Abu Dhabi's Sanad signs $145m MRO contract extension with Asiana Airlines

Mubadala Investment Company’s Sanad Group has signed a five-year contract extension to provide maintenance, repair and overhaul services for Asiana Airlines. Under the agreement, worth $145m, Sanad will maintain 30% of the V2500 engine fleet that powers the South Korean airline's Airbus A321 aircraft at its facilities in Abu Dhabi. Sanad first signed the agreement with Asiana Airlines in 2018. The V2500 engine, produced by International Aero Engines, powers a significant fleet of the 7,600 Airbus A320 and A321ceo aircraft worldwide. Sanad, which has provided maintenance, repair and overhaul (MRO) services for more than 35 years, has serviced more than 600 V2500 engines since 2012. Its current client base includes more than 30 airlines and 10 strategic partners from across the Middle East, Europe, Africa, the Americas and Asia. “Sanad's unique standing as the sole V2500 full overhaul MRO centre in the Middle East has been pivotal in supporting V2500 customers worldwide since 2012,” said Mansoor Janahi, managing director and group CE of Sanad. “With over 250 inductions in the past five years, we demonstrate our profound expertise in the aviation MRO sector.” Consulting firm Oliver Wyman said the global MRO sector will grow almost 3% in 2024, reaching $104b, and will expand 1.8% annually on average to 2034. In the Middle East, it is expected to grow at an annual rate of 2.3% to just over $15b by 2034, driven by order book growth and investment in MRO facilities.<br/>