Subscribe Free
in Maintenance

Sanad ties with Abu Dhabi National Leasing to finance new global spares platform

Posted 4 February 2013 · Add Comment

Sanad Aero Solutions the Mubadala Aerospace engines and components financing and leasing solutions company, is expanding its relationship with Abu Dhabi National Leasing (ADNL), the wholly owned lease financing arm of the National Bank of Abu Dhabi (NBAD) to develop a global spares platform.

They have been working together since late 2011 with an initial focus on spare engines, with the latest global spares platform expanding the scope further to aircraft components.   The value of closed transactions to date are in excess of $300 million and will further strengthen the synergies between Sanad’s asset management expertise and ADNL’s commercial banking and lease finance product offerings. Both companies are seeking to expand the platform in the near term with a strong pipeline of new opportunities.

The integrated spares financing activities are being conducted in collaboration with Mubadala Aerospace’s global MRO businesses, ADAT and SR Technics,.
The commercial airline industry holds an estimated $35 billion in spare engines and rotable components today supporting existing fleets. Sanad estimates that the industry will require an additional $20 billion in new spares to support new aircraft deliveries forecast over the next 20 years.   The global spares platform will ensure Sanad and ADNL are well positioned to serve this need with a range of products.
Troy Lambeth, CEO of Sanad, said:  “We are thrilled to see our relationship with ADNL expand through this new platform. This sets a strong foundation for growth for both companies as we continue to expand globally and further our shared mandate to establish Abu Dhabi as a global aerospace hub. This is another significant milestone for the company.”
Individual financings closed through the relationship include $169 million of lease financing for Sanad’s sale-and-leaseback of spare engines with Etihad Airways in December 2011, and a further $155 million in lease financing in December 2012, supporting a number of Sanad transactions in Europe, the MENA region and Asia.
Yousef Abdulla Yousef, the Managing Director of ADNL, said: “Our growing relationship with Sanad is evidence of our confidence in both the economic potential of the aerospace industry for the UAE, and Sanad’s important role in taking advantage of this exciting and growing market opportunity.   We look forward to working with Sanad and its investors to support more global airlines and contribute to Abu Dhabi’s economic vision.
“The strong collaboration between ADNL and Sanad has witnessed three transactions closing in a short period of time. It is an ideal blend of financial capabilities alongside strong technical skills and industry expertise for a complex MRO business.”
Since its launch in 2010, Sanad has grown its portfolio to over $550 million in assets under management supporting a growing number of industry leading airlines including Etihad Airways, Virgin Australia, Finnair, Air Berlin and others.

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

AW609 TiltRotor completes ground run

Finmeccanica has announced that third prototype (A/C3) of the AgustaWestland AW609 TiltRotor has completed its first ground run.

Etihad Airways representatives visit flight EY474 passengers in hospital

A specialist team from Etihad Airways has today visited the nine passengers, hospitalised after Etihad Airways flight EY474 encountered severe and unexpected clear air turbulence, to provide ongoing care, support and assistance.

LCI increases freighter fleet and signs new deal with Turkey's ACT Airlines

LCI, the aviation leasing arm of the Libra Group, continues to increase its fleet of dedicated maindeck freighter aircraft. Two additional Boeing 747-400F aircraft are now flying for Qatar Airways and Saudia, Saudi Arabian Airlines,

Abu Dhabi Airports awards F&B contracts for Midfield Terminal Building to four global retailers

Abu Dhabi Airports announced today that Emirates Leisure Retail (ELR), HMSHost International, Lagardère Capital, and SSP, four world-class food and beverage (F&B) retailers, have been awarded the concessionaire contracts for Abu

Emirates Space Innovation Group kicks off with inaugural workshop

The UAE Space Agency held the opening workshop of the Emirates Space Innovation Group (ESIG).

Large-scale airport projects attract French companies to Dubai's Airport Show

Business France, the national agency supporting the international development of the French economy, is organising its 5th France pavilion at the Airport Show in Dubai from 9 to 11 May 2016.

Ebace 2016 SK 18F26MY16
See us at
ACAC_BT3MY19MY16_Arabian_AerospaceWorld_Space_Congress_BT4MY23N16_Arabian_AerospaceAviation Africa 2017 BT 23F17Istanbul Airshow BT 2016Airport Show Dubai BT 2016Ebace 2016 BT 18F26MY16