Etihad Seals Component Spares Deal With SANAD
Etihad Airways has extended its relationship with Sanad Aero Solutions GmbH (Sanad), with a 10-year agreement for the sale and lease back of some of the airline’s key component spares.
The deal, valued at over US$125 million, will see Sanad, Mubadala Aerospace’s spare engine and components financing and leasing solutions company, purchasing and leasing back to Etihad Airways key rotable component spares.
The key component spares consist of aircraft spare parts for Etihad Airways’ entire fleet of passenger and cargo aircraft.
The transaction expands upon a similar sale and lease back deal between the two companies in late 2011 for the financing of 11 spare aircraft engines: five General Electric GE 90 and six Rolls Royce Trent 500.