Abu Dhabi-based aerospace services company Sanad has reported a 35% jump in its revenue for the first half which soared to hit AED4.31 billion ($1.17 billion), driven by strong demand for engine maintenance services and the expansion of its asset management business.
Sanad, a company wholly owned by Mubadala Investment Company, said international customers accounted for 99% of revenue during the six months, while the company signed eight new commercial agreements worth AED95.5 million.
The company said airlines' growing demand for integrated engine support services helped drive growth as it expanded beyond traditional maintenance, repair and overhaul (MRO) operations into asset management, engine testing and material support.
Sanad has invested more than AED800 million over the past two years to expand repair capabilities, engine testing infrastructure and maintenance capacity in the UAE.
Among its recent investments is a 480 million-dirham Repair Center of Excellence in Al Ain, scheduled to begin operations by 2030, alongside a new geared turbofan (GTF) engine MRO facility expected to start operations in late 2028. The company is also developing twin engine test cells in Al Ain that it said will become the region's largest civil aircraft engine testing facility.-TradeArabia News Service
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