Sanad signs one billion dirham agreement with Pratt & Whitney, IAE
Sanad, an aerospace engineering and leasing solutions company, owned subsidiary of Mubadala Investment Company (Mubadala), announced today a new one billion dirhams deal with Pratt & Whitney and International Aero Engines (IAE). The new agreement will see Sanad Aerotech providing IAE with expanded MRO services for its V2500 engines, which powers the Airbus A320 family of aircraft.
The announcement of the new deal came during the Global Aerospace Summit in Abu Dhabi, where industry leaders convened to discuss the impact of COVID-19 on the aerospace, defence and space industries. This agreement expands the cooperation between Sanad and IAE in the field of maintenance, repair and overhaul (MRO) of aircraft engines. Under the agreement, IAE, the manufacturer of V2500 engines, will offload V2500 engines for MRO services to Sanad’s state-of-the-art facility in Abu Dhabi Airports Free Zone. This step reaffirms the confidence of major global OEMs to collaborate with Abu Dhabi’s resilient aerospace sector especially during turbulent times.
Commenting on this new agreement, Mansoor Janahi, deputy group CEO, Sanad, said, “We are signing this new agreement at a critical stage in the history of the aviation industry. This agreement is another testament on Abu Dhabi’s established position as a reliable global centre for the aerospace industry and its state-of-the-art engineering services. With many global companies reformulating their relationships with their partners in line with the lessons learned from the pandemic, it seems that flexibility, sustainability and the capacity to deal with crises qualifies aerospace sector in the UAE to re-enforce its position as a preferred partner for major international companies. Sanad Aerotech has demonstrated the distinction of its engineering teams that were able to meet customer needs in addition to dealing efficiently with the disruptions that resulted from the pandemic.”
Dave Emmerling, vice president, Commercial Aftermarket at Pratt & Whitney, said, "The relationship between Pratt & Whitney, IAE and Sanad is strong and we look forward to continuing to strengthen it for years to come. We expect our V2500 customers will benefit greatly from the MRO services provided by Sanad."
Sanad has been providing its services to more than 300 V2500 engines since 2012 with year-on-year growth of over 19 per cent. The V2500 engine on the popular Airbus A320 aircraft has sold over 7,000 engines worldwide and is in service with 190 leading airlines and leasing companies in every corner of the globe. It is a trusted partner of original engine manufacturers (OEMs) such as Rolls-Royce, GE Aviation, and Pratt & Whitney. These relationships have enabled it to provide competitive MRO services for various aircraft engines.
The highly reliable V2500 engine is offered through IAE International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney, a unit of Raytheon Technologies Corp, which carries out the design, manufacture and service of aircraft and helicopter engines, and auxiliary power units, Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines.