Sanad Aero Solutions (Sanad), a wholly-owned subsidiary of Mubadala Development Company, has announced that its spare engine and component leasing portfolio has reached $1 billion worth of assets, just five years since its inception.

Over the past year, the company has added a mix of new engine and components assets to its business, further enhancing the scope of its portfolio, and its position in the global aviation leasing space, said a statement from Sanad.

Sanad’s engine leasing portfolio now includes a growing number of GEnx, GE90, CFM56, GP7200, and Trent engine types, while the company’s spare components business is now actively supporting nearly all production and entry into service Airbus and Boeing fleets, it added.

Troy Lambeth, chief executive officer of Sanad, said: “In the past two years, we have grown by over 30 per cent, bringing our global spares portfolio to over $1 billion in assets.”  

“Our continued growth reflects the strength of our product offering and the trust the market continues to place in our team.  We are extremely proud to have achieved this important milestone in such a short period of time and we are confident that our positioning will continue to drive value to our customers and deliver exceptional results,” he added. – TradeArabia News Service