- Approximately AED 1.5 Billion Engine Sale Strengthens Abu Dhabi’s Position as a Global Aviation Hub: The sale of 16 aircraft engines to Etihad Airways reinforces Sanad’s position as leading provider of integrated aviation services, supporting the continued growth of the UAE’s national carrier, Etihad Airways.
- Strategic Collaboration Between Abu Dhabi’s Aviation Leaders: This transaction showcases the longstanding relationship between Sanad and Etihad Airways which began in 2003, emphasizing a partnership that enhances the local aviation ecosystem, fosters long-term operational excellence, and in-country value.
- Legacy of Partnership and Global Aviation Growth: Sanad’s two decade-long collaboration with Etihad Airways continues to drive innovation and growth in the aviation industry, contributing to about AED 3 billion to the GDP of Abu Dhabi. With nearly AED 10 billion in transactions, it highlights their shared commitment to Abu Dhabi’s diversification agenda ambitions.
TTT NEWS NETWOK
KOLKATA, 26 OCTOBER 2024:
Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company PJSC (Mubadala), today announced the sale of 16 aircraft engines to Etihad Airways (EY), the national carrier of the United Arab Emirates, a landmark agreement valued at approximately AED 1.5 billion. This transaction, between two of Abu Dhabi’s foremost aviation players, underscores the emirate’s position as a global aviation hub and supports the continued expansion of Etihad Airways and the strength of the Abu Dhabi aviation ecosystem.
The sale includes a range of next-generation aircraft engines that power Etihad’s modern fleet of aircraft comprising nine GEnx engines for the Boeing 787 aircraft, five GP7200 engines for the Airbus A380, one Trent XWB engine for the Airbus A350, and one V2500 engine for the Airbus A320. This transaction underscores the strong synergy between Sanad and Etihad Airways, further strengthening Abu Dhabi’s aviation landscape and advancing the emirate’s strategic ambitions as the sector plays an integral role in bolstering the non-oil trade whilst driving economic growth.
Strengthening Abu Dhabi’s Aviation Ecosystem:
Mansoor Janahi, Managing Director and group CEO of Sanad highlighted the significance of the deal: “This transaction reaffirms Sanad’s long-term commitment to proactive portfolio management and optimizing our assets while strategically investing in future growth initiatives. It highlights the strength of Abu Dhabi’s aviation sector and our dedication to driving its continued growth. Our collaboration with Etihad Airways reflects the remarkable growth the airline is experiencing, and we are proud to be supporting the airline’s ambitious 2030 journey. Together, we are strengthening the synergies within Abu Dhabi’s thriving aviation ecosystem.”
Antonoaldo Neves, CEO of Etihad Airways, commented: “The acquisition of these engines marks a key milestone for Etihad as we continue maintaining a world-class fleet that drives our growth, honouring Abu Dhabi’s rich aviation heritage. This transaction is also a reminder of the strong synergy between Sanad and Etihad Airways spanning two decades.”
A Legacy of Collaboration:
Sanad’s partnership with Etihad Airways dates back to 2003. Since then Sanad has played a crucial role in maintaining Etihad’s fleet of aircraft engines, with Sanad conducting MRO services on over 400 engines, including V2500, Trent 700, which power the Airbus Aircraft family and GEnx models that power Boeing aircraft.
Since the launch of the V2500 and Trent 700 engine maintenance capabilities in 2012, Sanad has provided engine overhaul support to Etihad Airways, further cementing the strong relationship between the two Abu Dhabi companies. This long-standing partnership has played a pivotal role in enabling Sanad to become the leading and largest independent engine maintenance provider in the MENA region, serving over 30 global airline customers and all major engine manufacturers.
What began as a local collaboration has now expanded globally. To date, Sanad’s MRO transactions with Etihad Airways have exceeded AED 6 billion, reflecting a relationship built on trust, operational excellence, and shared commitment to long-term success.
This collaboration strengthened significantly in 2011 when the Sanad Capital division began providing further financing, expanding in 2013 with additional component spare-part leasing. To date, the total value of financing transactions between Sanad and Etihad has exceeded AED 3 billion.
Empowering Global and Local Growth:
Building on more than 37 years of operational excellence, and trusted partnerships with over 30 leading airlines across all six continents of the globe, Sanad remains a key player in delivering integrated maintenance solutions to world-leading airlines and OEMs. As a cornerstone of its comprehensive offerings, Sanad is committed to providing solutions that meet the evolving growth requirements of its global and UAE-based partners, reflecting its dedication to supporting the aviation industry’s needs globally.
This latest approximately AED 1.5 billion engine sale reflects Sanad’s ability to navigate the competitive landscape while providing strategic value to its partners.
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