Sanad Announces Strategic Engine Sale To CFM Materials, Bolstering Aviation Position

In a significant move within the aerospace sector, Sanad, a leader in aerospace engineering and leasing solutions and a subsidiary of Abu Dhabi's Mubadala Investment Company, has announced a strategic transaction with CFM Materials. This deal was unveiled during the International Society of Transport Aircraft Trading (ISTAT) Asia event in Hong Kong, marking a notable development in the industry.

The transaction involves the sale of two CFM56-7B engines to CFM Materials, the world's premier provider of used serviceable components for CFM International engines. This sale is a testament to Sanad's strategic pivot and proactive efforts to fortify its position in the aviation market. It represents a key achievement for the Sanad Leasing division, aligning with its strategy initiated last year focused on asset monetisation and leveraging its capabilities to support and enhance the Sanad MRO division.

Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, expressed satisfaction with this development, stating, "We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimising our portfolio collaborating with industry leaders like CFM Materials." This collaboration opens up new avenues for CFM Materials to bolster support for MRO networks, airlines, lessors, manufacturers, and other service providers globally. The addition of these engines significantly enhances CFM Materials' ability to meet growing customer demands.

Rudy Bryce, President and CEO of CFM Materials, also commented on the partnership, noting, "This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world." This statement underscores the mutual benefits anticipated from this strategic agreement.

The Sanad Leasing division stands as a crucial component of Sanad's comprehensive service offerings. With a portfolio exceeding US$700 million in assets, it showcases Sanad's strong capabilities and unwavering dedication to meeting the evolving needs of the aviation industry. This transaction not only highlights Sanad's strategic foresight but also its role in shaping the future of aerospace engineering and leasing solutions on a global scale.

With inputs from WAM