Abu Dhabi's Sanad and Etihad Airways extend $900m deal for spare aircraft engines
New contractual terms also include sale and leaseback option for additional engines
Dubai: The Mubadala subsidiary Sanad has struck a deal with Etihad Airways on spare engines, which expands an existing, $900 million partnership between the two. The latest one includes a sale-and-leaseback (SLB) agreement for an additional GEnx engine and a Rolls Royce Trent XWB engine, with a second XWB spare option.
Troy Lambeth, Group CEO of Sanad, said in a statement: “Despite the extraordinary challenges the industry is facing, this deal confirms Sanad’s long-term commitment to support our industry partners. We remain fully committed to Etihad Airways, and this agreement expands and deepens our portfolio with more entry-into-service asset types including our ninth GEnx, and our first Rolls Royce XWB spare engine.”
Sanad will also provide access to increased B787 rotable components and extended terms for existing GEnx spare engine agreements. Adam Boukadida, Chief Financial Officer of Etihad Aviation Group, added: “This latest collaboration underlines the effectiveness of two leading Abu Dhabi aviation companies working together to achieve a successful and long-term result for Abu Dhabi as we continue in our shared mandate to further establish our home base as a global aviation hub."