Sanad Announces Strategic Sale Transaction with CFM Materials

Source: www.gulfoilandgas.com 5/10/2024, Location: Asia

- Sanad's sale of two CFM56-7B engines to CFM Materials highlights its ongoing commitment to strengthening industry partnerships
- By partnering with leading aftermarket specialists, Sanad reaffirms its commitment to proactive portfolio management and strategic capital allocation

Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala), unveiled a strategic transaction between Sanad and CFM Materials, the world's largest provider of used serviceable components for CFM International engines, during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.

The sale of two CFM56-7B* engines to CFM Materials underscores Sanad's strategic shift and proactive approach to strengthening its market position in the aviation industry. Through strategic partnerships with leading aftermarket specialists, Sanad not only reaffirms its commitment but also solidifies its vital role as a key player in shaping the aviation landscape.

This strategic agreement marks a pivotal milestone for the Sanad Leasing division's ongoing strategy, which was initiated last year with a renewed focus on monetizing existing assets and leveraging the Sanad Leasing division to empower the Sanad MRO division. The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.

Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad, said: "We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. This transaction reaffirms our commitment to optimizing our portfolio collaborating with industry leaders like CFM Materials. We are eager to explore further synergies between our respective organizations to explore further avenues of cooperation in the future."

This collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers, and other service providers worldwide. Adding two CFM56-7B engines to CFM Materials portfolio enables them to meet the increasing demand from customers.

Rudy Bryce, President and CEO of CFM Materials, commented: "This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world."

With over 35 years of operational excellence and trusted partnerships with over 30 customers across six continents, including world-leading international airlines and global OEMs, Sanad remains at the forefront of aerospace engineering and leasing solutions. The Sanad Leasing division, a key pillar of Sanad's comprehensive offerings, is committed to providing integrated solutions that address the growth requirements of its partners. Currently, the Sanad Leasing division boasts a substantial portfolio exceeding USD 700 million in assets, showcasing its robust capabilities and dedication to supporting the aviation industry's evolving needs.





Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.