Aircraft Engine
The Sanad-Etihad Airways deal extends to additional spare engines, as well as a leaseback provision. Image Credit: Gulf News Archive

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.”

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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."