Engineering and leasing company Sanad, a wholly owned subsidiary of Mubadala Investment Company, and Etihad Airways, the UAE’s national carrier, have closed a new spare engine deal as part of their US$900 million partnership. The deal covers 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.
Troy Lambeth, group CEO of Sanad, said: “Despite the extraordinary challenges the industry is currently facing, this deal confirms Sanad’s long-term commitment to support our industry partners. 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.”