KHALEEJ TIMES, Tuesday, Sep 29, 2020 | Safar 12, 1442
Sanad strikes Dh1b MRO services deal
Emirates:
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."
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