Latest news with #Trent700
The Star
3 days ago
- Automotive
- The Star
Rolls-Royce to operate new aero engine facility in Beijing
Airbus showcases the model of its latest passenger aircraft at the 7th China International Import Expo in Shanghai in November. YIN LIQIN/CHINA NEWS SERVICE BEIJING: Rolls-Royce's first aero engine maintenance, repair and overhaul joint venture in the Chinese mainland is on track to begin operations by the end of 2025, said a senior executive of the British aircraft engine manufacturer. The new facility in the northeastern suburbs of Beijing marks the aero engine giant's significant expansion in one of the world's fastest-growing aviation markets, indicating the company's optimism about the Chinese market and its recognition of the country's supply chain. Beijing Aero Engine Services Ltd, a JV with Air China, is set to initially service Trent 700 engines for Airbus A330 aircraft before expanding to Trent XWB and Trent 1000 engines for Airbus A350 and Boeing 787 aircraft, respectively, said Troy Wang, executive vice-president for Greater China at Rolls-Royce, in an exclusive interview with Xinhua News Agency. "At its full capacity, which is expected to be achieved in the mid-2030s, BAESL will be able to support up to 250 shop visits per year," said Wang. The facility, which will employ up to 800 people at full capacity, represents a strategic growth initiative in China, Rolls-Royce's third-largest single-country market globally by revenue. Prior to BAESL, Rolls-Royce has been servicing Chinese mainland customers through its global MRO network, including HAESL in Hong Kong, which was established in 1997. The BAESL project is the latest in a series of investments by Rolls-Royce in China, including five JVs with Chinese partners. According to a report released by Aviation Industry Corporation of China, China's aviation sector is projected to require over 8,200 new passenger aircraft by 2043 to meet growing demand, including more than 1,500 wide-body jets. "China is not only a market, but also an important part of our supply chain," said Wang. He highlighted that Rolls-Royce has built a wide network of over 50 suppliers across the country, which manufacture key engine components and parts while "embedding digital and automation innovation capability". BAESL is being built as a "world-leading digitally enabled aero engine repair and overhaul shop" incorporating the latest digital technology. The JV is already partnering with leading digital solution providers in China to develop AI-enabled capabilities. China's aviation sector has shown remarkable resilience and growth potential despite global economic uncertainties as its industrial ecosystem continues to demonstrate competitiveness in "cost, quality and lead time", Wang said. Last year, Rolls-Royce expanded its JV in China with Guangxi Yuchai Machinery Co Ltd, a Chinese internal combustion engine manufacturer, to address the country's fast-growing market. - China Daily/ANN
Al Etihad
20-05-2025
- Automotive
- Al Etihad
Sanad, Etihad strengthen aviation supply chain with Trent 700 engine transaction
20 May 2025 16:37 ABU DHABI (WAM) Sanad, the global aerospace engineering and leasing solutions leader, wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala), has announced the acquisition of Rolls Royce Trent 700 engines from Etihad Airways (EY), the national airline of the United Arab agreement was signed by Kashish Kohli, Group Chief Financial Officer of Sanad, and Captain Majed Al Marzouqi, Interim Chief Operations and Guest Officer, during the third edition of the Make it in the Emirates Forum, underscoring both companies' alignment with the UAE's national industrial strategy and long-term vision for localised aerospace capabilitiesThis strategic acquisition marks a major milestone in Sanad's efforts to expand its global engine asset management and MRO capabilities. It also reinforces the UAE's ambition to establish a globally competitive aviation supply chain acquiring these engines, Sanad expands its ability to support airlines worldwide with cost-effective spare parts and flexible leasing solutions, enhancing turnaround times, reducing maintenance costs, and boosting operational efficiency across its global customer deal comes at a pivotal moment for the aviation industry. As operators continue to prioritise efficiency and fleet longevity amid persistent supply chain disruptions and delays in new aircraft deliveries, platforms like the Rolls-Royce Trent 700 remain in high designed for the Airbus A330, the Trent 700 has achieved a 60 percent market share, over 2,000 units delivered to date, and more than 60 million flight hours logged. Its proven efficiency and reliability make it a key platform for Sanad to deliver sustainable lifecycle solutions and long-term value to operators Janahi, Managing Director and Group CEO, highlighted the significance of the transaction, saying, 'This acquisition represents a strategic step forward in our two-decade partnership with Etihad, enabling us to expand our capabilities and meet the evolving needs of the regional and global aviation markets. As the only independent MRO provider in the world with a long-term strategic partnership with Rolls-Royce for the Trent 700, Sanad currently services 25% of the global Trent 700 fleet."This acquisition not only deepens that capability, it reinforces Abu Dhabi's role as a global center for aerospace innovation and sustainable industrial growth. Our partnership with Etihad Airways continues to drive tangible value, demonstrating how collaboration between UAE national champions.'Antonoaldo Neves, Etihad Airways Chief Executive Officer, commented, 'This is a mutually beneficial agreement that reflects our commitment to optimising our fleet as we phased out the A330ceo. It supports a trusted UAE partner and contributes to the growth of the local aerospace sector.'Beyond meeting immediate market demand, this acquisition plays a critical role in advancing the UAE's national strategy to localise aerospace capabilities, accelerate sustainable economic growth, and position Abu Dhabi as a leading global aviation supply chain hub. By expanding its service portfolio, Sanad is driving international investment, cultivating local talent, and delivering world-class MRO and leasing solutions from Abu Dhabi to the global aviation market.
Trade Arabia
13-03-2025
- Automotive
- Trade Arabia
Sanad achieves $1.34bn revenue for 2024, up 40%
Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company (Mubadala), has announced exceptional financial results for 2024, with revenue surpassing the $1-billion milestone for the first time in its history. The company reported AED4.92 billion ($1.34 billion) in revenue, a 40 percent increase from AED3.4 billion ($925 million) in 2023, underscoring its rapid expansion and strategic market positioning, said a WAM news agency report. Sanad's exceptional performance was fuelled by unprecedented global demand for engine MRO services, expansion into key global markets, and transformative strategic agreements with leading airlines and global Original Engine Manufacturers (OEM). Sanad's leasing division witnessed significant achievements, executing five major transactions exceeding AED1.8 billion in combined value, positioning the division to develop its new long-term growth strategy. The company's AED33 billion order book was bolstered by major partnerships with Air Mauritius, Deucalion Aviation, Asiana Airlines, and Lion Air, propelling its contracted business by an additional AED4 billion in 2024, it said. Additionally, Sanad's global expansion strategy was reinforced by establishing a dedicated sales presence in Singapore, further strengthening its footprint in the high-growth APAC region and enhancing its global sales network. Amer Siddiqui, Group Chairman of Sanad, stated: 'Sanad's record-breaking performance in 2024 is a testament to our resilient strategy, operational excellence, and long-term investment plans. This achievement reinforces our pivotal role in Abu Dhabi's vision of becoming a global aviation hub which solidifies Sanad's position as a leader in the global aviation market. Our continued growth underscores the strength of our business model and our unwavering commitment to delivering world-class solutions to our partners from our home base in Abu Dhabi.' Mansoor Janahi, Managing Director and Group CEO of Sanad, said: '2024 was a transformational year for Sanad. Surpassing US$1.34 billion in revenue reflects the strong market demand for our services, our advanced engine MRO and leasing capabilities, and the dedication of our exceptional teams. With strategic expansions, new partnerships, and an unwavering focus on innovation and service-delivery, we are well-positioned to sustain this momentum and drive the future of the aerospace sector in Abu Dhabi.' Sanad further solidified its position as a leading independent engine MRO service provider, recording 161 engine inductions, a 29 percent increase from 2023. This surge was fueled by soaring demand for Trent 700, V2500, and LEAP engine maintenance. To accommodate this demand, Sanad invested over AED100 million to expand its MRO infrastructure, ensuring state-of-the-art engine repair and maintenance capabilities. In 2024, Sanad's MRO division processed 54 V2500 engines, 40 Trent 700 engines, 28 GEnx engines, and 21 LEAP engines, performing over 43,000-part inspections and 19,000 in-house repairs. Additionally, Sanad welcomed seven new customers in 2024, bringing its total customer base to over 40, including leading airlines and OEMs worldwide. This expansion of capacity and capabilities, combined with growing global air travel, positions Sanad as a preferred partner for airlines and OEMs worldwide. Sanad's workforce saw a 20 percent expansion in 2024, with over 130 new hires joining the company. Emiratisation remained a core focus, with UAE nationals now comprising 32 percent of the workforce, a 19 percent increase from 2023.
Khaleej Times
12-03-2025
- Business
- Khaleej Times
Sanad surpasses Dh4.92 billion in revenues for 2024
Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company, on Wednesday announced Dh4.92 billion ($1.34 billion) in revenue for 2024, a 40 per cent increase from Dh3.4 billion in 2023. Sanad's performance was fueled by strong global demand for engine MRO services, expansion into key global markets, and strategic agreements with leading airlines and global original engine manufacturers (OEM). Sanad's leasing division witnessed significant achievements, executing five major transactions exceeding Dh1.8 billion ($490 million) in combined value, positioning the division to develop its new long-term growth strategy. The company's Dh33 billion order book was bolstered by major partnerships with Air Mauritius, Deucalion Aviation, Asiana Airlines, and Lion Air, propelling its contracted business by an additional Dh4 billion in 2024. Additionally, Sanad's global expansion strategy was reinforced by establishing a dedicated sales presence in Singapore, further strengthening its footprint in the high-growth APAC region and enhancing its global sales network. Amer Siddiqui, group chairman of Sanad, said: 'Sanad's record-breaking performance in 2024 is a testament to our resilient strategy, operational excellence, and long-term investment plans. This achievement reinforces our pivotal role in Abu Dhabi's vision of becoming a global aviation hub which solidifies Sanad's position as a leader in the global aviation market. Our continued growth underscores the strength of our business model and our unwavering commitment to delivering world-class solutions to our partners from our home base in Abu Dhabi.' Mansoor Janahi, managing director and group CEO of Sanad, said: '2024 was a transformational year for Sanad. Surpassing $1.34 billion in revenue reflects the strong market demand for our services, our advanced engine MRO and leasing capabilities, and the dedication of our exceptional teams. With strategic expansions, new partnerships, and an unwavering focus on innovation and service-delivery, we are well-positioned to sustain this momentum and drive the future of the aerospace sector in Abu Dhabi.' MRO capabilities to meet unprecedented demand During the year, Sanad recorded 161 engine inductions, a 29 per cent increase from 2023. This surge was fueled by soaring demand for Trent 700, V2500, and LEAP engine maintenance. To accommodate this demand, Sanad invested over Dh100 million to expand its MRO infrastructure, ensuring state-of-the-art engine repair and maintenance capabilities. In 2024, Sanad's MRO division processed 54 V2500 engines, 40 Trent 700 engines, 28 GEnx engines, and 21 LEAP engines, performing over 43,000-part inspections and 19,000 in-house repairs. Additionally, Sanad welcomed seven new customers in 2024, bringing its total customer base to over 40, including leading airlines and OEMs worldwide. Sanad's leasing division played a pivotal role in revenue growth executing a total of five strategic deals, with a combined capital value exceeding Dh1.8 billion. Among the division's standout achievements was the sale of 16 engines to Etihad Airways, valued at nearly Dh1.5 billion. 'Additionally, high-value CFM56 engine transactions with CFM Materials and component sales to AerSale, further bolstered Sanad's financial position, demonstrating its ability to extract maximum value from its leasing assets,' a statement said. Sanad also completed the sale of a GE90 engine and key component transactions with AerCap, executed the sale of two CFM56-7B26 engines to CFM Materials. 'These strategic asset monetisation efforts further enhanced Sanad's financial position and supported its long-term growth strategy,' the statement said. Sanad's workforce saw a 20 per cent expansion in 2024, with over 130 new hires joining the company. Emiratisation remained a core focus, with UAE nationals now comprising 32 per cent of the workforce, a 19 per cent increase from 2023. Looking ahead Sanad plans to increase engine MRO capacity within the UAE while targeting global growth in emerging markets in Africa, India, and Southeast Asia. 'The company is strengthening its human capital development, forging strategic industry collaborations, and continues to invest in cutting-edge MRO solutions, automation, and AI-driven initiatives to drive efficiency and innovation,' the statement said.
Al Etihad
12-03-2025
- Automotive
- Al Etihad
Sanad achieves Dh4.92 billion in revenues for 2024, marking 40 percent surge
12 Mar 2025 16:46 ABU DHABI (ALETIHAD)Sanad, the global aerospace engineering and leasing solutions leader wholly owned by Abu Dhabi's sovereign investor Mubadala Investment Company PJSC (Mubadala), has announced exceptional financial results for 2024, surpassing the US$1 billion milestone for the first time in its company reported Dh4.92 billion (US$1.34 billion) in revenue, a 40 percent increase from Dh3.4 billion (US$925 million) in 2023, underscoring its rapid expansion and strategic market exceptional performance was fueled by unprecedented global demand for engine MRO services, expansion into key global markets, and transformative strategic agreements with leading airlines and global Original Engine Manufacturers (OEM).Sanad's Leasing division witnessed significant achievements, executing five major transactions exceeding Dh1.8 billion ($490 million) in combined value, positioning the division to develop its new long-term growth strategy. The company's Dh33 billion order book was bolstered by major partnerships with Air Mauritius, Deucalion Aviation, Asiana Airlines, and Lion Air, propelling its contracted business by an additional Dh4 billion in Sanad's global expansion strategy was reinforced by establishing a dedicated sales presence in Singapore, further strengthening its footprint in the high-growth APAC region and enhancing its global sales Siddiqui, Group Chairman of Sanad, stated, 'Sanad's record-breaking performance in 2024 is a testament to our resilient strategy, operational excellence, and long-term investment plans. This achievement reinforces our pivotal role in Abu Dhabi's vision of becoming a global aviation hub which solidifies Sanad's position as a leader in the global aviation market. Our continued growth underscores the strength of our business model and our unwavering commitment to delivering world-class solutions to our partners from our home base in Abu Dhabi.'Mansoor Janahi, Managing Director and Group CEO of Sanad, said, '2024 was a transformational year for Sanad. Surpassing US$1.34 billion in revenue reflects the strong market demand for our services, our advanced engine MRO and leasing capabilities, and the dedication of our exceptional teams. With strategic expansions, new partnerships, and an unwavering focus on innovation and service-delivery, we are well-positioned to sustain this momentum and drive the future of the aerospace sector in Abu Dhabi.'Sanad further solidified its position as a leading independent engine MRO service provider, recording 161 engine inductions, a 29 percent increase from 2023. This surge was fueled by soaring demand for Trent 700, V2500, and LEAP engine maintenance. To accommodate this demand, Sanad invested over Dh100 million to expand its MRO infrastructure, ensuring state-of-the-art engine repair and maintenance 2024, Sanad's MRO division processed 54 V2500 engines, 40 Trent 700 engines, 28 GEnx engines, and 21 LEAP engines, performing over 43,000-part inspections and 19,000 in-house repairs. Additionally, Sanad welcomed seven new customers in 2024, bringing its total customer base to over 40, including leading airlines and OEMs worldwide. This expansion of capacity and capabilities, combined with growing global air travel, positions Sanad as a preferred partner for airlines and OEMs worldwide. Sanad's workforce saw a 20 percent expansion in 2024, with over 130 new hires joining the company. Emiratisation remained a core focus, with UAE Nationals now comprising 32 percent of the workforce, a 19 percent increase from 2023.
