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– Sanad announces strategic sales transaction with CFM Materials, further fostering collaborations in the aviation sector
HONG KONG, May 18, 2024 /PRNewswire/ — Sanad, the global leader in aerospace engineering and leasing solutions, wholly owned by Abu Dhabi sovereign investor Mubadala Investment Company PJSC (Mubadala), has revealed a strategic transaction between Sanad and CFM Materials, the world’s largest supplier of useful components used for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.
The sale of two CFM56-7B* engines to CFM Materials underlines Sanad’s strategic shift and proactive approach to strengthen its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad not only reaffirms its commitment but also cements its vital role as a key player in shaping the aviation landscape.
This strategic agreement marks a key milestone for the Sanad Leasing division’s ongoing strategy, which was initiated last year with a renewed focus on monetizing existing assets and leveraging the Sanad Leasing division to boost the Sanad MRO division. The main objective of this strategy is to drive and strengthen the growth of Sanad’s MRO division.
Kashish Kohli, Chief Financial Officer and Senior Vice President of Sanad Leasing Division, explained: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimize our portfolio and collaborate with industry leaders such as CFM Materials. We look forward to exploring new synergies between our organizations and exploring new avenues of cooperation.”
This collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers and other service providers around the world. The addition of two CFM56-7B engines to CFM Materials’ portfolio allows them to meet growing customer demand.
Rudy Bryce, President and CEO of CFM Materials, commented: “This agreement with Sanad reinforces our commitment to supporting our customers by expanding our leasing fleet and strengthening our position as a reliable partner for CFM56 engine owners, operators and workshops. Worldwide”.
With more than 35 years of operational excellence and trusted partnerships with more than 30 customers across six continents, including leading international airlines and original equipment manufacturers around the world, Sanad remains at the forefront of engineering. aerospace and leasing solutions. The Sanad Leasing division, a key pillar of Sanad’s comprehensive offering, is committed to providing integrated solutions that address the growth requirements of its partners. Today, the Sanad Leasing division has a substantial portfolio exceeding $700 million in assets, demonstrating its strong capabilities and dedication to supporting the evolving needs of the aviation industry.
About Sanad
Sanad Group (Sanad) is a global leader in aerospace engineering and leasing solutions in Abu Dhabi, 100% owned by Mubadala Investment Company PJSC. With more than 35 years of operational experience, Sanad supports commercial aviation leaders 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
About CFM Materials
Headquartered near DFW Airport, Texas, CFM Materials, a joint venture of GE Aerospace and Safran Aircraft Engines, is the world’s largest supplier of used and repairable components for the CFM International engines that power Airbus A320 and Boeing 737 commercial aircraft. , as well as the Boeing KC-135R tanker aircraft operated by the United States Air Force.
In addition to its core business, the company also sells surplus inventory for CFM International and supplies inventory to the MRO (maintenance, repair and overhaul) network of its parent companies around the world. CFM Materials is present worldwide with warehouses located near DFW Airport (Texas), Amsterdam, Hamburg and Singapore, as well as sales offices in Singapore and Cardiff (Wales). www.cfmmaterials.com
For more information contact:Raneem KhatibEdelmansanad@edelman.com 971 50 204 9791
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