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Sanad sells two CFM56-7B engines to CFM Materials

Aerospace engineering and leasing solutions provider, Sanad, has announced a strategic transaction with CFM Materials during the International Society of Transport Aircraft Trading (ISTAT) Asia event in Hong Kong.
photo_camera Kashish Kohli, Sanad, and Rudy Bryce, CFM Materials

Aerospace engineering and leasing solutions provider, Sanad, has announced it has sold two CFM56-7B engines to CFM Materials.

Sanad says the agreement underscores its strategic shift and proactive approach to strengthening the company’s market position in the aviation industry.

Announced during the International Society of Transport Aircraft Trading (ISTAT) Asia event in Hong Kong, Sanad says the agreement marks a pivotal milestone for the Sanad Leasing Division’s ongoing strategy, which was initiated last year with a renewed focus on monetising existing assets and leveraging the Sanad Leasing Division to empower the Sanad MRO division.

The primary goal of this strategy is to drive and bolster the growth of the MRO division of Sanad.

The organisations claim the collaboration presents new opportunities for CFM Materials to support MRO networks, airlines, lessors, manufacturers, and other service providers worldwide.

Adding two CFM56-7B engines to CFM Materials portfolio enables them to meet the increasing demand from customers.

Kashish Kohli, group chief financial officer and senior vice president of the leasing division at Sanad, said: “We are pleased to announce the successful sale of two CFM56 engines to CFM Materials.

“This transaction reaffirms our commitment to optimising our portfolio collaborating with industry leaders like CFM Materials.

“We are eager to explore further synergies between our respective organisations to explore further avenues of cooperation in the future.”

Rudy Bryce, president and chief executive of CFM Materials – the world’s largest provider of used serviceable components for CFM International engines – said: “This agreement with Sanad strengthens our commitment to support our customers by expanding our lease pool and bolstering our position as a reliable partner to engine owners, operators and CFM56 engine shops around the world.”

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