Sign in
More aircraft engines for Etihad: Sovereign investment fund Mubadala’s aerospace engineering and leasing subsidiary Sanad finalized an agreement to sell 16 aircraft engines to Etihad Airways, valued at approximately AED 1.5 bn, according to a press release.
REMEMBER- Etihad Airways has been pushing forward with its expansion plans as it gears up for an IPO next year. The airline plans to double its fleet size and triple passenger numbers by 2030, adding 16 aircraft to its 92 fleet in 1H, and said it was expecting to add more than 20 new generation aircraft to its fleet in the next 18 months. Etihad’s parent company ADQ is reportedly going after both a traditional IPO and direct listing on ADX no sooner than in 2025, with the offering expected to raise as much as USD 1 bn.
Impact on Sanad: The company sees revenues reaching AED 4.5 bn by year-end, after seeing some AED 3.4 bn in revenues in 9M 2024, Sanad’s CEO Mansoor Janahi, told CNBC Arabia (watch, runtime: 6:55) in an interview.
WATCH THIS SPACE- The company is planning to launch a fifth maintenance line on 18 November with an investment of AED 100 mn, Janahi said. Sanad plans to boost its capacity to 172 engines this year, and more than 200 engines next year, he added.
Etihad Airways and Sanad go way back: Sanad provided maintenance, repair, and overhaul services (MRO) for over 400 aircraft engines in Etihad Airways’ fleet. To date, the total value of MRO transactions between Sanad and Etihad Airways exceeds AED 6 bn.
