BLOOMBERG/BRENDON OHAGAN

BUSINESS

Mubadala Aerospace merges aero maintenance and capital businesses

SHARE THIS ARTICLE
In June 2019, Sanad Aerotech secured a $6.5 billion contract to service hundreds of engines that power the Airbus A330 jetliner from Rolls-Royce Holdings.
MONDAY 18, NOVEMBER 2019

Abu Dhabi-based Mubadala Investment Company has merged three of its aerospace and industrial companies to create a new industrial champion designed to foster the company’s long-term growth in the global aerospace and industrial services sectors, according to local newswire, WAM.

Mubadala said that Sanad Aerotech, an aircraft engine MRO (maintenance, repair and operations) business will be merged with industrial and energy MRO Sanad Powertech as well as with aero leasing and asset finance business Sanad Capital.

Badr Al Olama, the Head of Mubadala Aerospace, said, “Sanad will spearhead Mubadala’s strategic investments in key technologies and capabilities to enhance and strengthen its global positioning.”

Sanad Aerotech signed a landmark agreement with General Electric Aviation (GE) to provide maintenance services to GE for the next-generation of narrow body and wide body aircraft.

Under this agreement, the Abu Dhabi based company will provide performance restoration overhaul services on the GEnx-1B engine as well as continued time, or quick turn overhauls on CFM International’s LEAP engines for GE.

The deal will allow Sanad to expand its existing maintenance and repair services to include full overhaul on 315 GEnx engines until 2035 and quick turn on 237 LEAP engines until 2030 at its Abu Dhabi shop.

Other turbine types maintained are GE’s GEnx, which powers Boeing’s 787 Dreamliner and the International Aero Engines V2500 used on Airbus A320-series jets.

Currently, Sanad is now servicing 75 Trent 700 engines, which are used to power Airbus A330 jets, up from the 22.

TAGS: GENERAL ELECTRIC AVIATION MUBADALA INVESTMENT COMPANY SANAD AEROTECH BOEING’S 787 DREAMLINER CFM INTERNATIONAL
Print Friendly Version


RECOMMENDED NEWS


BRANDS MAGAZINES LATEST EDITION


CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.


Subscribe to our News Letter

Subscribe

© 2018 CPI Financial. All rights reserved.

No part of this website may be reproduced or used in any form of advertising without prior permission in writing from the editor.