Sanad Aero Solutions signs engine deal with Air Berlin

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Sanad Aero Solutions has acquired three new CFM International CFM56 engines under a purchase and leaseback agreement with Air Berlin.

"The addition of these engines [is] to ensure Air Berlin's operational requirements are fully met during peak maintenance periods," says Sanad's chief commercial officer, Phil Carroll.

"Coupled with the creation of a lease pool arrangement utilising spare capacity to support our MRO customer base, [this] is a genuine example of our ability to create value for our customers."

Sanad now has 11 spare engines in its portfolio. Since its launch in 2010, the Mubadala Aerospace subsidiary has grown its portfolio to cover more than $550 million in assets under management.

Other airline partners which it supports include Etihad Airways, Finnair, Garuda Indonesia and Virgin Australia.