Nov 16 2011 |
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Sanad Aero Solutions announces transactions have totaled US$ 300 million since 2010 launch
Wednesday 16th November, 2011: Sanad Aero Solutions (Sanad), Mubadala Aerospace's component and engine financing solutions company, has announced that since its launch in early 2010, it has contracted over US$ 300 million in long term engine and component access transactions.
Remaining a separate entity, but working closely with the Mubadala Aerospace's Maintenance Repair and Overhaul (MRO) network - Abu Dhabi Aircraft Technologies ( ADAT ) and SR Technics - Sanad has secured major contracts with some of the industry's leading carriers, including; Etihad Airways , Onur Air, Air Berlin, Maximus Air Cargo, Virgin Australia and Garuda. Sanad also recently finalized an agreement to provide financing of rotable components for Hamilton Sundstrand products on the Boeing 787 Dreamliner, as part of a wider arrangement with ADAT and SR Technics.
Key agreements signed since 2010 include an Integrated Engine Solution deal (IES) with German carrier Air Berlin including the purchase and long term lease of twelve spare engines, and Integrated Component Solution (ICS) deals with UAE carrier Etihad Airways for the carrier's entire Airbus fleet and Virgin Australia for the carrier's A330 fleet.
Troy Lambeth, Chief Executive Officer (CEO) of Sanad said: "The Virgin Australia deal was our largest so far and another big milestone for the company. Since we launched in early 2010, we have entered into a number of asset transactions valued now in excess of US$ 300 million with associated long-term MRO contracts valued now in excess of US$ 2 billion."
Troy Lambeth, CEO of Sanad continued: "We are delighted with our progress to-date and continue to work closely with the
Mubadala
Aerospace MRO network to identify innovative and new opportunities to drive value for both airlines and Original Equipment Manufacturers (OEMs). We continue to be encouraged by the market's appetite in our integrated financing solutions as they unlock and preserve valuable capital for our customers, which is vital in the challenging economic environment faced by the industry."
-Ends-
About Sanad Aero Solutions
Sanad provides purchase, leasing and management solutions for spare components and engines to the commercial airline industry.
Owned by Mubadala Development Company , Sanad was launched in early 2010 and has offices in Abu Dhabi and Zurich.
The company provides innovative opportunities for airlines to monetize existing assets, secure scalable inventory solutions to support growth, and access the full spectrum of world class MRO and technical services offered by Mubadala 's global MRO network including Abu Dhabi Aircraft Technologies and SR Technics.
Serving the global market, Sanad has a growing base of customers and partners in Europe, Asia-Pacific, and the Middle East.
About
Mubadala
Aerospace
Mubadala
Aerospace, a business unit of
Mubadala Development Company
, is a global network of aerospace businesses that demonstrates world-class performance, and delivers value-added services and products to its customers with the highest standards of safety, quality, and efficiency.
Mubadala
Aerospace intelligently invests in a network of international businesses developing mutually-beneficial partnerships, and capitalizing on market opportunities to ensure sustainable value to its stakeholders, nurture the local Emirati talent, and drive innovative solutions for the aerospace industry.
Mubadala Aerospace has forged collaborative agreements with world-class aerospace and aviation companies leveraging global expertise for advanced, end-to-end technologies, and manufacturing bases that offer state-of-the-art facilities as well as a global customer base. Creating and sustaining value for its businesses, Mubadala Aerospace has developed strategic partnerships with leading organizations such as EADS/Airbus, Finmeccanica/Alenia Aeronautica, GE, Sikorsky Aerospace Services, and Lockheed Martin Corporation to build and maintain a globally competitive advantage.
The portfolio of businesses include: Abu Dhabi Aircraft Technologies ( ADAT ), Advanced Military Maintenance Repair and Overhaul Centre (AMMROC), SR Technics, Sanad Aero Solutions, Strata Manufacturing, Horizon International Flight Academy , and Piaggio Aero. Each of these companies has proven expertise in its field and performs with a mutual endeavor to be best-in-class.
Mubadala Aerospace is hosting, in partnership with Abu Dhabi Airports Company (ADAC), Al Yah Satellite Communications Company (Yahsat) and Etihad Airways , the Global Aerospace Summit 2012, a select, invitation-only gathering of global industry leaders across the aerospace, aviation and space sectors that aims to promote cross industry thought leadership. This event takes place from 16 to 19 of April 2012 in Abu Dhabi - the capital of the United Arab Emirates, marking the emergence of the Emirate as an aerospace and aviation powerhouse in the global arena. For further information on the Global Aerospace Summit 2012, please visit www.aerospacesummit.ae.
About
Mubadala
Development Company
Mubadala Development Company
(
Mubadala
) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company's strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi, and that contribute to the growth and diversification of its economy.
Mubadala
brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures. For more information about
Mubadala
please visit http://www.mubadala.ae.
For further information please contact:
Alisdair Haythornthwaite
Bell Pottinger Middle East
M: +971 56 690 1725
ahaythornthwaite@bell-pottinger.co.uk
© Press Release 2011
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