Exceeding 30% growth over the past two years, air financing firm’s assets now top $1 billion
Abu Dhabi, UAE: Sanad Aero Solutions GmbH (Sanad), a wholly-owned subsidiary of Mubadala Development Company, has announced that its spare engine and component leasing portfolio has reached US$ 1 billion worth of assets, just 5 years since the company’s inception.
Over the past twelve months, Sanad has added a mix of new engine and components assets to its business, further enhancing the scope of its portfolio, and its position in the global aviation leasing space.
Troy Lambeth, Chief Executive Officer of Sanad, commented: “In the past two years, we have grown by over 30%, bringing our global spares portfolio to over $1 billion in assets. Our continued growth reflects the strength of our product offering and the trust the market continues to place in our team. We are extremely proud to have achieved this important milestone in such a short period of time and we are confident that our positioning will continue to drive value to our customers and deliver exceptional results.”
Sanad’s engine leasing portfolio now includes a growing number of GEnx, GE90, CFM56, GP7200, and Trent engine types, while the company’s spare components business is now actively supporting nearly all production and entry into service Airbus and Boeing fleets.
Sanad Aero Solutions (Sanad) is an industry leader in integrated financing and leasing solutions for spare engine and aircraft components, wholly owned by Mubadala, the Abu Dhabi-based investment and development company. Sanad’s portfolio exceeds $1 billion of assets supporting a broad range of modern commercial fleet types for a growing number of industry leading global airlines. Launched in 2010 and headquartered in Switzerland, Sanad has offices in Zurich and Abu Dhabi.
About Mubadala Development Company
Established and owned by the Government of Abu Dhabi, the company’s strategy is built on the creation of partnerships and on long-term, capital-intensive investments that deliver strong financial returns, contribute to the growth and diversification of Abu Dhabi’s economy, and create opportunities for current and future generations in the United Arab Emirates.
Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include aerospace, semiconductors, metals & mining, oil & gas, renewables, information & communications technology, healthcare, real estate & infrastructure, utilities, and defense services.
For more information about Mubadala please visit www.mubadala.com.
For more information contact:
Leah Tucker, Edelman
Tel:+971 (0) 50 613 9356