Abu Dhabi-based airline Etihad Airways has signed a US$125m, ten-year agreement for the sale and lease back of some of its key component spares.
In a statement, the UAE’s flag carrier said Sanad Aero Solutions (SANAD), a part of Mubadala Aerospace, would purchase the unspecified spares, which consists of parts for Etihad’s entire fleet of passenger and cargo aircraft.
The deal expands on a similar sale and lease back deal signed between the two firms in 2011 for the financing of five General Electric GE90 and six Rolls Royce Trent 500 aircraft engines.
"This new sale and leaseback transaction provides the airline with a long-term financing solution for many of its key component spares while mitigating residual value risk and providing competitive cost of ownership over the long term,” said Etihad CEO James Hogan.
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