AerCap Acquires Five General Electric GE90 Engines from Sanad
DUBAI, UAE, Nov. 14, 2023 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap" or the "Company") (NYSE: AER) today announced the successful acquisition of five General Electric GE90-115B engines from Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala). This significant transaction was announced at the Dubai Airshow 2023.
"We are very pleased to work with Sanad on this transaction," said Tom Slattery, EVP AerCap Engines. "The addition of these GE-90 engines to our portfolio will enable us to support the strong demand in leasing activity we are seeing from our customers. We thank the team at Sanad for their partnership and look forward to future collaborations between our two companies."
"This transaction is in line with our portfolio management and capital allocation strategy," said Kashish Kohli, Sanad Group Chief Financial Officer, and SVP of the Sanad Leasing Division. "This successful deal not only strengthens our relationship with AerCap but also highlights the synergies between our organizations. We look forward to building on this momentum and exploring further avenues of cooperation with AerCap."
AerCap is the global leader in aviation leasing with one of the most attractive order books in the industry. AerCap serves approximately 300 customers around the world with comprehensive fleet solutions. AerCap is listed on the New York Stock Exchange (AER) and is based in Dublin with offices in Shannon, Miami, Singapore, Memphis, Amsterdam, Shanghai, Dubai, Seattle, Toulouse and other locations around the world.
Sanad Group (Sanad) is a global aerospace engineering and leasing solutions leader based in Abu Dhabi and wholly owned by Mubadala Investment Company PJSC. With more than 35 years of operational experience, Sanad supports leaders in commercial aviation with world-class maintenance, repair, and overhaul (MRO) services and financing solutions. Visit us at www.sanad.ae. Follow us on Instagram, Facebook and LinkedIn @TheSanadGroup
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SOURCE AerCap Holdings N.V.
Released November 14, 2023