Abu Dhabi-based Sanad, a leader in aerospace engineering and leasing solutions owned by Mubadala, is set to expand into India, Southeast Asia, and Africa following a remarkable performance in 2024. The company reported revenues of Dh4.92 billion ($1.34 billion), marking a 40 percent increase from Dh3.4 billion ($925 million) in 2023, and surpassing the $1 billion milestone for the first time in its history.

Sanad is preparing for further global growth by enhancing its engine maintenance, repair, and overhaul (MRO) capacity within the UAE while targeting emerging markets. In a company statement, Sanad emphasized its commitment to developing human capital, forming strategic industry partnerships, and investing in innovative MRO solutions, automation, and artificial intelligence to increase efficiency.

Mansoor Janahi, Managing Director and Group CEO of Sanad, highlighted that the revenue achievement reflects strong market demand for their services and the advanced capabilities of their engine MRO and leasing operations. He noted that through strategic expansions and new partnerships, Sanad is well-positioned to continue driving the future of the aerospace sector in Abu Dhabi.

Despite significant disruptions in the global aerospace supply chain throughout 2024, which included labor shortages and logistical challenges, the MRO sector benefited as airlines sought to extend the life of their fleets. Sanad’s MRO division reported 161 engine inductions in 2024, a 29 percent increase from the previous year, and invested over Dh100 million to enhance its MRO infrastructure.

The rise in demand for maintaining engines like the Trent 700, V2500, and LEAP prompted Sanad to open a new LEAP Engine MRO Center, expanding its capabilities to service both LEAP-1A and LEAP-1B engines. The company welcomed seven new customers in 2024, bringing its total to over 40, including prominent airlines and original equipment manufacturers.

Amer Siddiqui, Group Chairman of Sanad, stated that the company’s achievements reinforce its role in Abu Dhabi’s vision of becoming a global aviation hub. He emphasized that their continued growth showcases the strength of their business model and dedication to delivering world-class solutions from Abu Dhabi.

In addition to MRO growth, Sanad’s order book for 2024 reached Dh33 billion, bolstered by partnerships with airlines like Air Mauritius, Asiana Airlines, and Lion Air. These agreements contributed an additional Dh4 billion to the company’s business portfolio. Sanad also strengthened its global presence by establishing a sales office in Singapore, which enhances its footprint in the rapidly growing Asia-Pacific region.

The leasing division significantly contributed to revenue growth, completing five strategic deals valued at over Dh1.8 billion. Notable transactions included the sale of 16 engines to Etihad Airways, worth nearly Dh1.5 billion, along with high-value engine deals involving CFM56 and AerSale.

Sanad’s workforce grew by 20 percent in 2024, with over 130 new hires. The company remains focused on Emiratization, with UAE Nationals now making up 32 percent of the workforce, reflecting a 19 percent increase since 2023.