Sanad, Etihad Airways ink $265-million agreement

Sanad Aero Solutions GmbH (Sanad), a wholly owned Abu Dhabi-based subsidiary of Mubadala Development Company, is expanding its relationship with Etihad Airways with a $265 million, 12-year sale and lease-back agreement.

Sanad has grown extensively since it was established in 2010.

“Since its launch, Sanad has provided a broad range of financial solutions for Etihad Airways’ spare inventories and has been a key enabler to our growth," James Hogan, Etihad Aviation Group president and CEO, said. "We look forward to furthering our relationship with Sanad as we continue to grow.” 

Sanad and Etihad Airways have worked together for five years on various deals; the first, in 2011, included the financing of GE90 and Rolls Royce Trent spare engines.

“Etihad Airways is an important partner and we are delighted to expand our relationship with them,” Sanad CEO Troy Lambeth said.