Sanad, an industry leader in aerospace engineering and leasing solutions, and a wholly owned subsidiary of Mubadala Investment Company (Mubadala), announced a new one billion dirhams deal with Pratt & Whitney and International Aero Engines (IAE). The new agreement will see Sanad Aerotech providing IAE with expanded MRO services for its V2500 engines, which powers the Airbus A320 family of aircraft.
The announcement of the new deal came during the Global Aerospace Summit in Abu Dhabi, where industry leaders convened to discuss the impact of COVID-19 on the aerospace, defence and space industries. This agreement expands the cooperation between Sanad and IAE in the field of maintenance, repair and overhaul (MRO) of aircraft engines. Under the agreement IAE, the manufacturer of V2500 engines, will offload V2500 engines for MRO services to Sanad’s state-of-the-art facility in Abu Dhabi Airports Free Zone. This step reaffirms the confidence of major global OEMs to collaborate with Abu Dhabi’s resilient aerospace sector especially during turbulent times.
Commenting on this new agreement, Mansoor Janahi, Deputy Group CEO, Sanad, said, “We are signing this new agreement at a critical stage in the history of the aviation industry. This agreement is another testament on Abu Dhabi’s established position as a reliable global centre for the aerospace industry and its state-of-the-art engineering services. With many global companies reformulating their relationships with their partners in line with the lessons learned from the pandemic, it seems that flexibility, sustainability and the capacity to deal with crises qualifies the aerospace sector in the UAE to re-enforce its position as a preferred partner for major international companies. Sanad Aerotech has demonstrated the distinction of its engineering teams that were able to meet customer needs in addition to dealing efficiently with the disruptions that resulted from the pandemic.”
Dave Emmerling, Vice President, Commercial Aftermarket at Pratt & Whitney, said, “The relationship between Pratt & Whitney, IAE and Sanad is strong and we look forward to continuing to strengthen it for years to come. We expect our V2500 customers will benefit greatly from the MRO services provided by Sanad.”