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UAE’s global aerospace engineering firm Sanad extends $145m deal with Asiana Airlines

UAE’s global aerospace engineering firm Sanad extends $145m deal with Asiana Airlines
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UAE – Mubasher: Global aerospace engineering and leasing solutions leader Sanad, which is wholly owned by Abu Dhabi’s sovereign investor Mubadala Investment Company, has renewed a five-year contract with Asiana Airlines, the second largest airline in South Korea.

The deal is valued at $145 million (AED 532 million), solidifying the partnership between the two sides which was initiated in 2018 while highlighting the UAE company’s global industry leadership and commitment to providing elite Maintenance, Repair, and Overhaul (MRO) services for V2500 engines.

Upon the contract extension, Sanad will maintain 30% of Asiana Airlines’ V2500 engine fleet powering the South Korean airline’s Airbus A321 aircraft fleet, according to a press release.

Asiana Airlines has a fleet exceeding 80 aircraft, while it operates a wide range of local and international passenger and cargo services that cover a network of more than 80 global destinations.

Managing Director and Group CEO of Sanad, Mansoor Janahi, said: “Sanad's unique standing as the sole V2500 full overhaul MRO center in the Middle East has been pivotal in supporting V2500 customers worldwide since 2012.”

Janahi added: “With over 250 inductions in the past five years, we demonstrate our profound expertise in the aviation MRO sector.”

The Group CEO concluded: “This collaboration reaffirms our unwavering commitment to excellence within the aerospace industry, positioning Abu Dhabi as an innovative and leading hub for aviation solutions and solidifying its reputation as a premier destination for cutting-edge aviation services to top global airline.”

Meanwhile, Principal General Manager Purchasing of Asiana Airlines, Hoon Bae, said: “We have selected Sanad as our V2500 MRO service provider for another five years because we are convinced it is qualified to satisfy our requirement to support our A320 and A321ceo fleet.”

It is worth mentioning that part of the ties between the GCC and the Asian airline industry was Saudi Arabia General Authority of Civil Aviation’s (GACA) recent partnership with China Southern Airlines.