Sanad closes out 1H with record revenue

Sanad posts record 1H revenue: Mubadala’s aerospace engineering and leasing arm Sanad Group reported 1H revenue of AED 4.31 bn, up 35% y-o-y, in a press release. International customers accounted for 99% of the total, and the company signed eight new commercial agreements worth AED 95.5 mn during the period.

The maintenance business drove the numbers: Sanad inducted 120 engines, up 33.3% y-o-y, and lifted engine deliveries 53.8%, putting it on track for about 300 shop visits a year by the end of 2026. In its first full operating period, Sanad’s new Asset Management division deployed around AED 165 mn and expanded its portfolio to 17 engines following 11 new acquisitions, alongside launching a Trent 700 rebuild program.

Behind the results: Sanad invested more than AED 800 mn over the past two years, including a AED 480 mn repair center in Al Ain due to open by 2030 and a GTF engine MRO center set for late 2028 that it says will be the world’s second largest. It also extended its Trent 700 work with Rolls-Royce to 2031 and added Lion Air and Air Canada as engine maintenance customers.