Sanad Achieves AED 4.92 Billion In Revenue For 2024, Marking A Significant 40% Increase

Sanad, a leader in aerospace engineering and leasing solutions owned by Mubadala Investment Company PJSC, achieved remarkable financial success in 2024. The company reported revenues of AED4.92 billion (US$1.34 billion), marking a 40% increase from the previous year. This growth highlights Sanad's strategic market positioning and expansion efforts.

Sanad's impressive performance was driven by strong global demand for engine maintenance, repair, and overhaul (MRO) services. The company expanded into key international markets and secured strategic agreements with major airlines and Original Engine Manufacturers (OEMs). These efforts have significantly contributed to its revenue growth.

The Leasing division at Sanad executed five major transactions in 2024, valued at over AED1.8 billion ($490 million) combined. These deals are part of the division's long-term growth strategy. Additionally, Sanad's order book grew to AED33 billion, thanks to partnerships with Air Mauritius, Deucalion Aviation, Asiana Airlines, and Lion Air.

To strengthen its presence in the Asia-Pacific region, Sanad established a dedicated sales office in Singapore. This move enhances its global sales network and supports its expansion strategy in high-growth markets.

Sanad's MRO division recorded 161 engine inductions in 2024, a 29% increase from the previous year. The demand for Trent 700, V2500, and LEAP engine maintenance fueled this growth. To meet this demand, Sanad invested over AED100 million to expand its MRO infrastructure.

The company's workforce grew by 20% in 2024, with over 130 new employees joining the team. Emiratisation remained a priority, with UAE Nationals now making up 32% of the workforce—a significant increase from the previous year.

Leadership Insights on Success

Amer Siddiqui, Group Chairman of Sanad, stated: "Sanad’s record-breaking performance in 2024 is a testament to our resilient strategy, operational excellence, and long-term investment plans. This achievement reinforces our pivotal role in Abu Dhabi’s vision of becoming a global aviation hub which solidifies Sanad’s position as a leader in the global aviation market."

Mansoor Janahi, Managing Director and Group CEO of Sanad, added: "2024 was a transformational year for Sanad. Surpassing US$1.34 billion in revenue reflects the strong market demand for our services... With strategic expansions... we are well-positioned to sustain this momentum..."

MRO Division Achievements

In 2024, Sanad's MRO division processed various engines: 54 V2500 engines, 40 Trent 700 engines, 28 GEnx engines, and 21 LEAP engines. The division conducted over 43,000-part inspections and completed 19,000 repairs internally.

This expansion of capacity has positioned Sanad as a preferred partner for airlines worldwide. Seven new customers joined Sanad in 2024, bringing its total customer base to over 40.

The company's achievements underscore its commitment to innovation and service delivery excellence while supporting Abu Dhabi's vision of becoming a global aviation hub.

With inputs from WAM