Announcement comes during the ongoing Global Aerospace Summit in Abu Dhabi
Sanad, an industry leader in aerospace engineering and leasing solutions, and a wholly owned subsidiary of Mubadala Investment Company (Mubadala), announced today a new $272 million deal with Pratt & Whitney and International Aero Engines (IAE).
The new agreement will see Sanad Aerotech providing IAE with expanded MRO services for its V2500 engines, which powers the Airbus A320 family of aircraft.
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.
This agreement expands the cooperation between Sanad and IAE in the field of maintenance, repair and overhaul (MRO) of aircraft engines. 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.
Sanad is a leading provider of aerospace engineering and leasing solutions for customers around the world, providing its services to more than 300 V2500 engines since 2012 with year-on-year growth of over 19%.
The V2500 engine on the popular Airbus A320 aircraft has sold over 7,000 engines worldwide and is in service with 190 leading airlines and leasing companies in every corner of the globe.
Sanad is a trusted partner of original engine manufacturers (OEMs) such as Rolls-Royce, GE Aviation, and Pratt & Whitney.
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