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Sanad strikes Dh1b MRO services deal

Issac John /Dubai
issacjohn@khaleejtimes.com Filed on September 28, 2020
The V2500 customers will benefit greatly from the MRO services provided by Sanad.

The new agreement will see Sanad Aerotech providing IAE with expanded MRO services for its V2500 engines.

Sanad, an industry leader in aerospace engineering and leasing solutions, announced on Monday a Dh1 billion deal with Pratt & Whitney and International Aero Engines, IAE.

The new agreement will see Sanad Aerotech providing IAE with expanded maintenance, repair and overhaul, MRO, services for its V2500 engines, which powers the Airbus A320 family of aircraft.

Sanad Group, a wholly-owned subsidiary of Mubadala Investment Company which came into being following the consolidation of Mubadala's financing, leasing and MRO businesses in 2019, provides financing, leasing and maintenance services to the global aerospace, energy and industrial sectors.

The announcement of the new deal came during the Global Aerospace Summit in Abu Dhabi, where industry leaders convened to discuss the impact of Covid-19 on the aerospace, defence and space industries.

Under the agreement, IAE, the manufacturer of V2500 engines, will offload V2500 engines for MRO services to Sanad's state-of-the-art facility in Abu Dhabi Airports Free Zone.

Mansoor Janahi, deputy Group CEO, Sanad, said the new agreement was signed at a critical stage in the history of the aviation industry. "This agreement is another testament to Abu Dhabi's established position as a reliable global centre for the aerospace industry and its state-of-the-art engineering services."

With many global companies reformulating their relationships with their partners in line with the lessons learned from the pandemic, it seems that flexibility, sustainability and the capacity to deal with crises qualifies aerospace sector in the UAE to reinforce its position as a preferred partner for major international companies."

Dave Emmerling, vice president, Commercial Aftermarket at Pratt & Whitney, said the relationship between Pratt & Whitney, IAE and Sanad is strong. "We look forward to continuing to strengthen it for years to come. We expect our V2500 customers will benefit greatly from the MRO services provided by Sanad." - issacjohn@khaleejtimes.com

author

Issac John

Editorial Director of Khaleej Times, is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years, including 23 years with Khaleej Times. A post-graduate in English and graduate in economics, he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends, he is respected for his astute understanding of the local business scene.


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