Sanad, a wholly owned subsidiary of Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala), has unveiled a strategic transaction with CFM Materials, the largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.
The sale of two CFM56-7B engines to CFM Materials highlights Sanad's strategic shift and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad reaffirms its commitment and solidifies its role as a key player in shaping the aviation landscape.
This strategic agreement marks a pivotal milestone for the Sanad Leasing division's ongoing strategy, which was initiated last year with a renewed focus on monetising existing assets and leveraging the Sanad Leasing division to empower the Sanad MRO division. The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.
Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, said: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimising our portfolio and collaborating with industry leaders like CFM Materials. We are eager to explore further synergies between our respective organisations and explore further avenues of cooperation in the future.”
This collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers and other service providers worldwide. Adding two CFM56-7B engines to CFM Materials' portfolio enables the company to meet the increasing demand from customers.
