Hongkong (ots/PRNewswire) – Sanad, the global leader in aerospace engineering and leasing solutions, wholly owned by Abu Dhabi state-owned investor Mubadala Investment Company PJSC (Mubadala), announced at the International Society of Transport Aircraft Trading ( ISTAT) Asia announced a strategic transaction in Hong Kong between Sanad and CFM Materials, the world’s largest supplier of used, serviceable engine components from CFM International.
- The sale of two CFM56-7B engines to CFM Materials underscores Sanad’s ongoing commitment to strengthening industry partnerships.
- By partnering with leading aftermarket specialists, Sanad reinforces its commitment to proactive portfolio management and strategic capital allocation.
The sale of two CFM56-7B* engines to CFM Materials underscores Sanad’s strategic realignment and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad not only reaffirms its commitment but also underscores its essential role as a key player in shaping the aviation landscape.
This strategic agreement is a key milestone in Sanad’s leasing division’s strategy, which last year saw a renewed focus on monetizing existing assets and leveraging the leasing division
Strengthening Sanad’s MRO division was initiated. The primary objective of this strategy is to drive and strengthen the growth of Sanad’s MRO business.
Kashish Kohli, Group Head of Finance and Senior Vice President of Leasing at Sanad, said: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reinforces our commitment to optimizing our portfolio by collaborating with industry leaders such as CFM Materials. We are keen to explore further synergies between our various companies to explore further collaboration opportunities.”
This collaboration opens up new opportunities for CFM Materials to support MRO networks, airlines, rental companies, manufacturers and other service providers worldwide. With the addition of two CFM56-7B engines to CFM Materials’ portfolio, the company can meet increasing demand from its customers.
Rudy Bryce, President and CEO of CFM Materials, commented: “This agreement with Sanad strengthens our commitment to supporting our customers by expanding our leasing pool and solidifying our position as a trusted partner for engine owners, operators and CFM56 engine shops around the world.”
With over 35 years of operational excellence and trusted partnerships with over 30 customers across six continents, including the world’s leading international airlines and global OEMs, Sanad remains at the forefront of aerospace engineering and leasing solutions. Sanad’s Leasing Division, one of the key pillars of Sanad’s comprehensive offering, is committed to providing integrated solutions that meet the growth needs of its partners. Currently, Sanad’s leasing division has an extensive portfolio valued at more than $700 million, demonstrating its solid capabilities and commitment to supporting the evolving needs of the aviation industry.
Information about Sanad
Sanad Group (Sanad) is a global leader in aerospace engineering and leasing solutions company in Abu Dhabi, wholly owned by Mubadala Investment Company PJSC. With more than 35 years of operating experience, Sanad supports leading commercial aviation companies with world-class maintenance, repair and overhaul (MRO) services and financing solutions.
Visit us at www.sanad.ae. Follow us on Instagram, Facebook and LinkedIn @TheSanadGroup
Information about CFM Materials
CFM Materials, a joint venture between GE Aerospace and Safran Aircraft Engines based near Dallas/Fort Worth Airport in Texas, is the world’s largest supplier of used, serviceable components for CFM International’s engines that power the Airbus A320 and Boeing commercial aircraft 737 and the Boeing KC-135R tanker aircraft operated by the US Air Force.
In addition to its core business, the company also sells excess inventory for CFM International and supplies inventory to the parent companies’ global MRO (Maintenance, Repair and Overhaul) network. CFM Materials has a global presence with warehouse facilities near Dallas/Fort Worth Airport in Texas, as well as in Amsterdam, Hamburg and Singapore, as well as sales offices in Singapore and Cardiff, Wales. www.cfmmaterials.com
For further information please contact: Raneem Khatib
Edelman
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