Sanad, a prominent player in global aerospace engineering and leasing solutions under Abu Dhabi’s Mubadala Investment Company PJSC (Mubadala), has announced a significant transaction at the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong. The deal involves Sanad and CFM Materials, the world’s leading supplier of pre-owned serviceable components for CFM International engines, wherein two CFM56-7B* engines were sold to CFM Materials. This move underscores Sanad’s proactive approach and strategic pivot to strengthen its position in the aviation sector. By forging key partnerships with top aftermarket experts, Sanad not only reaffirms its dedication but also solidifies its critical role in shaping the industry’s landscape.
This strategic agreement represents a pivotal milestone for Sanad’s Leasing division’s ongoing strategy, initiated last year with a renewed emphasis on maximizing existing assets and utilizing the division to bolster Sanad’s MRO operations. The primary goal of this strategy is to drive the growth and success of Sanad’s MRO division.
Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, expressed his satisfaction with the successful sale of the two CFM56 engines to CFM Materials. He emphasized that this transaction underscores Sanad’s commitment to optimizing its portfolio and collaborating with industry leaders like CFM Materials. Furthermore, he expressed eagerness to explore further synergies between the two organizations and identify additional avenues for cooperation in the future.
This partnership opens up new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers, and various service providers on a global scale. The inclusion of two CFM56-7B engines in CFM Materials’ portfolio equips them to more effectively address the evolving needs of their customers.
Rudy Bryce, President and CEO of CFM Materials, commented on the agreement, highlighting its significance in strengthening CFM Materials’ commitment to supporting customers by expanding its lease pool and solidifying its position as a reliable partner to engine owners, operators, and CFM56 engine shops worldwide.
Sanad, with over 35 years of operational excellence, has established trusted relationships with over 30 customers across six continents. These include top international airlines and global OEMs, positioning Sanad as a leader in aerospace engineering and leasing solutions. The Sanad Leasing division, a cornerstone of Sanad’s offerings, is dedicated to delivering comprehensive solutions that align with the growth requirements of its partners. With a portfolio exceeding USD 700 million in assets, the Sanad Leasing division demonstrates robust capabilities and a unwavering commitment to supporting the ever-changing demands of the aviation industry.
