Sanad, an industry leader in aerospace engineering and leasing solutions, and a wholly owned subsidiary of Mubadala Investment Company, and Etihad Airways, the UAE's national carrier, have closed a new spare engine deal.
The new deal, which expands the US$900 million-plus partnership between Sanad and Etihad Airways for additional spare engines and rotable components, includes a sale-and-leaseback (SLB) agreement for an additional GEnx engine and a Rolls Royce Trent XWB engine, with a second XWB spare option. Sanad will also provide access to increased B787 rotable components and extended terms for existing GEnx spare engine agreements.
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, defencs and space industries.
