Sanad Aero Solutions GMBH (Sanad), Mubadala's aircraft engine and components financing and leasing solutions company, is extending its relationship with Abu Dhabi National Leasing (ADNL), the wholly owned lease financing arm of the National Bank of Abu Dhabi (NBAD), to over US$400 million with the most recent transaction supporting Etihad Airways' long term spare component programme.
Sanad and ADNL have been working together since late 2011 in providing innovative spare engine and component leasing solutions to an expanding number of industry leading airlines globally. This is the fourth transaction executed by the companies, extending direct and indirect support to a growing number of airlines in collaboration with Mubadala's Maintenance, Repair, and Overhaul (MRO) service providers, SR Technics and Abu Dhabi Aircraft Technologies (ADAT).
Troy Lambeth, CEO of Sanad, said, "Expanding our relationship with ADNL through this transaction is evidence of our ongoing commitment to growing the spares platform and our shared ambition to expand locally and globally. The relationship continues to strengthen our capacity to serve a rapidly growing global spares market." Yousef Abdulla Yousef, Managing Director of ADNL, said, "At ADNL, we remain excited about the economic potential of the aerospace industry, and working closely with Sanad allows us take advantage of this growing market opportunity. By maximising financial capabilities alongside MRO industry expertise, we look forward to building further upon this relationship to support our national airline, grow our business and contribute to Abu Dhabi's economic vision."