Sanad’s MRO capabilities reach new heights with 161 engine inductions
Mubadala-owned aerospace engineering and leasing solutions leader Sanad has ambitious plans for expansion into India, Southeast Asia, and Africa in the pipeline, building on its record-breaking performance in 2024.
Sanad said Wednesday it surpassed the $1 billion milestone for the first time in its history after reporting Dh4.92 billion ($1.34 billion) in revenues. This is a 40 per cent increase from Dh3.4 billion ($ 925 million) earned in 2023.
Sanad said it is all set for further global expansion, with plans to increase engine MRO capacity within the UAE while targeting global growth in emerging markets in Africa, India, and Southeast Asia.
“The company is strengthening its human capital development,forging strategic industry collaborations, and continues to invest in MRO solutions, automation, and AI-driven initiatives to drive efficiency and innovation,” it said in a statement.
Mansoor Janahi, Managing Director and Group CEO of Sanad said, “Surpassing $1.34 billion in revenue reflects the strong market demand for our services, our advanced engine MRO and leasing capabilities, and the dedication of our exceptional teams.”
He added, “With strategic expansions, new partnerships, and an unwavering focus on innovation and service delivery, we are well-positioned to sustain this momentum and drive the future of the aerospace sector in Abu Dhabi.”
An exceptional 2024
The global aerospace supply chain faced significant disruptions throughout 2024, driven by ongoing challenges such as labour shortages, raw material shortages, and logistical bottlenecks. The industry saw increased demand for aircraft and engine parts; however, OEMs and suppliers struggled to meet delivery schedules, leading to production and maintenance service delays.
The Maintenance, repair, and overhaul (MRO) sector indirectly benefitted from the supply chain disruptions as airlines turned to them to extend the life of their fleets.
Sanad’s MRO division continued its growth trajectory with 161 engine inductions in 2024, marking a 29 per cent increase in activity compared to the previous year. The company invested over Dh 100 million to expand its MRO infrastructure.
The surge in demand for Trent 700, V2500, and LEAP engine maintenance prompted significant investments in expanding MRO infrastructure, including opening a new LEAP Engine MRO Center, which expanded its capabilities to include both LEAP-1A and LEAP-1B engines.
Sanad welcomed seven new customers in 2024, bringing its total customer base to over 40, including leading airlines and OEMs worldwide.
Amer Siddiqui, Group Chairman of Sanad, said, “This achievement reinforces our pivotal role in Abu Dhabi’s vision of becoming a global aviation hub, solidifying Sanad’s position as a leader in the global aviation market. Our continued growth underscores the strength of our business model and our unwavering commitment to delivering world-class solutions to our partners from our home base in Abu Dhabi.”
Leasing division growth
Sanad’s order book for 2024 surged to Dh33 billion, further strengthened by partnerships with airlines such as Air Mauritius, Asiana Airlines, and Lion Air, as well as OEM agreements.
These deals added Dh4 billion in new business to the company’s portfolio. Sanad also expanded its global footprint by establishing a dedicated sales presence in Singapore, reinforcing its position in the rapidly growing APAC region and enhancing its global sales network.
The company’s leasing division also played a critical role in driving revenue growth, executing five strategic deals with a combined value exceeding Dh1.8 billion, the company’s earnings statement explained. Notable achievements included the sale of 16 engines to Etihad Airways, valued at nearly Dh1.5 billion, and high-value engine transactions with CFM56 and AerSale.
Workforce growth
Janahi also said Sanad’s workforce saw a 20 per cent expansion in 2024, with over 130 new hires joining the company. Emiratization remained a core focus, with UAE Nationals now comprising 32 per cent of the workforce, a 19 per cent increase from 2023.
Source: gulfnews