Sanad, wholly owned by Abu Dhabi’s Mubadala Investment Company PJSC (Mubadala), has unveiled a strategic transaction between itself and CFM Materials, the world’s largest provider of used serviceable components for CFM International engines. The agreement was signed during the International Society of Transport Aircraft Trading (ISTAT) Asia in Hong Kong.
“This transaction reaffirms our commitment to optimizing our portfolio collaborating with industry leaders like CFM Materials,” said Kashish Kohli, Group Chief Financial Officer and SVP Leasing Division at Sanad. “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials. We are eager to explore further synergies between our respective organizations to explore further avenues of cooperation in the future.”
“This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world,” said Rudy Bryce, President and CEO of CFM Materials.
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