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Sanad posts $300 million transactions
DUBAI - Sanad Aero Solutions (Sanad), Mubadala Aerospace’s component and engine financing solutions company, has announced that since its launch in early 2010, it has contracted over $300 million in long-term engine and component access transactions.
Remaining a separate entity, but working closely with the Mubadala Aerospace’s Maintenance Repair and Overhaul (MRO) network – Abu Dhabi Aircraft Technologies (ADAT) and SR Technics – Sanad has secured major contracts with some of the industry’s leading carriers including Etihad Airways, Onur Air, Air Berlin, Maximus Air Cargo, Virgin Australia and Garuda.
Sanad also recently finalised an agreement to provide financing of rotable components for Hamilton Sundstrand products on the Boeing 787 Dreamliner, as part of a wider arrangement with ADAT and SR Technics.
Key agreements signed since 2010 include an Integrated Engine Solution deal (IES) with German carrier Air Berlin including the purchase and long term lease of twelve spare engines, and Integrated Component Solution (ICS) deals with UAE carrier Etihad Airways for the carrier’s entire Airbus fleet and Virgin Australia for the carrier’s A330 fleet.
Recently, Sanad has also signed a comprehensive financing and access agreement with Virgin Australia for the carrier’s Boeing 737NG and Embraer E-Jet spare aircraft components. Furthermore, Sanad is supporting ADAT’s comprehensive ICS agreement to service flydubai’s entire fleet, announced at the Dubai Airshow yesterday, Tuesday 15th November, 2011.
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