Mubadala increases Sanad's component stock

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Mubadala's engine and component leasing arm, Sanad Aero Solutions, has expanded its business with Abu Dhabi's national bank via a spare-parts supply deal with Etihad Airways.

A "recent transaction" for the components agreement increased transaction volume with Abu Dhabi National Lease (ADNL) - a wholly owned subsidiary of the National Bank of Abu Dhabi - to "over $400 million", says Sanad.

Since they began working together in late 2011, Sanad and ADNL have concluded four transactions.

Investment company Mubadala is wholly owned by Abu Dhabi's government.