Etihad Airways closes $367m engine deal with Sanad and ELF

Sanad Aero Solutions and Engine Lease Finance Corp (ELF) signed a deal with Abu Dhabi based Etihad Airways, to finance its 23 spare engines in a sale and lease-back deal valued at $367m, for a  ten-year operating lease term. Abu Dhabi’s Mubadala owned Sanad, will buy and lease back five GE90 and six Rolls Royce Trent 500 engines, while ELF will buy and lease back six Rolls Royce Trent 700 and six IAE V2500 engines to Ethihad.