04 September 2011, Abu Dhabi:  Sanad Aero Solutions (Sanad), Mubadala Aerospace's component and engine financing solutions company, has entered into new component inventory agreements valued in excess of US$ 50 million with Mubadala-owned companies Abu Dhabi Aircraft Technologies (ADAT) and SR Technics..

The companies are working together to expand Mubadala Aerospace's global Maintenance, Repair, and Overhaul (MRO) offering by including spare components and engines in the integrated product solution.  The additional spare inventories will be utilized by ADAT and SR Technics to expand services for a number of key customers including Etihad Airways, Onur Air and Maximus Air Cargo.

Since its launch in early 2010, Sanad has signed a number of key agreements including an Integrated     Component Solution (ICS) with Virgin Australia for the carrier's A330 fleet, an Integrated Engine Solution (IES) with German carrier Air Berlin including the sale and lease back of twelve spare engines and an ICS with UAE carrier Etihad Airways for the airline's entire Airbus fleet.  The company has entered into asset leasing transactions valued in excess of US$ 200 million with associated long term MRO contracts valued in excess of US$ 1 billion.

Troy Lambeth, Sanad CEO, commented, "Working alongside ADAT and SR Technics to incorporate spare engines and components across our integrated product offerings, these new agreements expand our spare inventories in key growth regions.  We are working together to identify innovative opportunities to drive value for airlines and Original Equipment Manufacturers (OEMs) in partnership with our global MRO network."

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About Mubadala Aerospace
Mubadala Aerospace, a business unit of Mubadala Development Company, is driving the development of Abu Dhabi's aerospace industry to establish the Emirate as a global aerospace hub. Through partnerships with world leading companies such as Boeing, EADS, Finmeccanica and GE, Mubadala Aerospace has combined global expertise and local resources to develop an advanced, technology-driven global aerospace business based out of Abu Dhabi. Mubadala is building the industry around composite aerostructures and OEM manufacturing, maintenance, repair and overhaul (MRO) services and pilot training. These sectors are underpinned with education & training initiatives to create job opportunities for the local population and develop a highly skilled workforce, with research & development facilities being established to place Abu Dhabi at the forefront of the global aerospace industry. Flagship projects include Strata, the advanced composites aerostructures manufacturing plant and Sanad, the component and engine leasing company that works in partnership with Mubadala's Abu Dhabi Aircraft Technologies and SR Technics to deliver integrated MRO services to a global customer base. For more information please visit: www.mubadala.ae

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 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:
Maryam Imogen Ghouth
Mubadala Aerospace
Senior Communications Officer
M: +971 55 700 7592
ighouth@mubadala.ae

Alisdair Haythornthwaite
Bell Pottinger Middle East
M: +971 56 690 1725
ahaythornthwaite@bell-pottinger.co.uk

© Press Release 2011