UAE national carrier confirms new SLB agreement for XWB and GEnx spare engines
Sanad, a wholly owned subsidiary of Mubadala Investment Company, and Etihad Airways, have closed a new spare engine deal which further cements Abu Dhabi’s position as a self-sustaining international aviation sector hub.
The announcement of the new deal came during the Global Aerospace Summit in Abu Dhabi, where industry leaders convened to discuss the impact of the pandemic on the aerospace, defence and space industries.
The new deal, which expands the US$ 900mn-plus partnership between Sanad and Etihad Airways for additional spare engines and rotable components, includes a sale-and-leaseback (SLB) agreement for an additional GEnx engine and a Rolls Royce Trent XWB engine, with a second XWB spare option.
Sanad will also provide access to increased B787 rotable components and extended terms for existing GEnx spare engine agreements.
“We remain fully committed to Etihad Airways, and this agreement expands and deepens our portfolio with more entry-into-service asset types including our ninth GEnx, and our first Rolls Royce XWB spare engine,” commented Troy Lambeth, Group CEO, Sanad.
“Sanad continues to be a trusted and reliable partner for Etihad Airways and its continued support is well aligned with our long-term plans and fleet strategy,” remarked Adam Boukadida, CFO, Etihad Aviation Group.
