UAE - Mubasher: Sanad, a leader in aerospace engineering and leasing solutions, has inked a new deal with Etihad Airways to provide the UAE's national carrier with a new spare engine, according to the Emirates News Agency (WAM).

The deal between Sanad, a wholly-owned subsidiary of Mubadala Investment Company (Mubadala), and Etihad Airways was announced during the Global Aerospace Summit, being held on 28-29 September in Abu Dhabi.

Through the new deal, the $900 million-plus partnership between Sanad and Etihad is expanded to include additional spare engines and rotatable components and a sale-and-leaseback agreement for an additional GEnx engine and a Rolls Royce Trent XWB engine.

In addition, Sanad will enable Etihad Airways to have access to increased B787 rotatable components and extended terms for existing GEnx spare engine agreements.

The group CEO of Sanad, Troy Lambeth, commented: "We remain fully committed to Etihad Airways, and this agreement expands and deepens our portfolio with more entry-into-service asset types including our ninth GEnx, and our first Rolls Royce XWB spare engine."

The Chief Financial Officer of Etihad Aviation Group, Adam Boukadida, said: "Sanad continues to be a trusted and reliable partner for Etihad Airways and its continued support is well aligned with our long-term plans and fleet strategy."