UAE - Mubasher: Sanad, a wholly-owned subsidiary of Mubadala Investment Company (Mubadala), has entered an AED 1 billion deal with Pratt & Whitney and International Aero Engines (IAE), a multinational aero engine consortium.

Sanad Aerotech, a part of Sanad which is a provider of aerospace engineering and leasing solutions, will provide IAE with maintenance repair and overhaul (MRO) services for its V2500 engines that power the Airbus A320 family of aircraft, according to a press release on Monday.

This announcement was made during the Global Aerospace Summit in Abu Dhabi, being held on 28-29 September to highlight the impact of coronavirus (COVID-19) on the aerospace, defence, and space industries.

 Under the agreement, IAE will send the V2500 engines to Sanad’s facility in Abu Dhabi Airports Free Zone for MRO services.

The Deputy Group CEO of Sanad, Mansoor Janahi, said: "We are signing this new agreement at a critical stage in the history of the aviation industry. This agreement is another testament to Abu Dhabi’s established position as a reliable global centre for the aerospace industry and its state-of-the-art engineering services."

The Vice President of Commercial Aftermarket at Pratt & Whitney, Dave Emmerling, remarked: "We expect our V2500 customers will benefit greatly from the MRO services provided by Sanad."