4.92 billion dirhams revenues "support" In 2024 a growth of 40%

Abu Dhabi, March 12 / WAM / Sanad Group, the global company specialized in the field of aviation engineering and financing solutions entirely owned by the company “Mubadala”, announced the achievement of exceptional financial results for the year 2024, bypassing the US billion dollar barrier for the first time in the history of the group.

“Sanad” stated that during the year 2024, it achieved revenues of 4.92 billion dirhams “1.34 billion dollars”, an increase of 40% compared to 3.4 billion dirhams “925 million dollars” in 2023, confirming its rapid expansion and strategic position.

It attributed the exceptional performance to unprecedented global demand for maintenance, reform and age services, expansion of major global markets and strategic agreements with major airlines and original equipment manufacturers in the world.

Sanad also achieved remarkable financial successes through the unit of its financing solutions, which completed major deals with a total value of 1.8 billion dirhams “490 million US dollars”, which establishes the status of the unit and paved the way for the development of its strategy for sustainable growth in the long term.

Sanad strengthened her requests of 33 billion dirhams with prominent partnerships with Mauritius, Diokloon Air and ASANA air lines and Lion Air, to raise the value of her contracted business by 4 billion dirhams in 2024.

The group worked to expand its global strategy through a specialized sales team in Singapore, which contributed to the consolidation of its presence in the Asia Pacific region, and the enhancement of the expansion of its global sales network.

Amer Siddiqui, Chairman of the Sanad Group, said that Sanad’s record in 2024 reflects the success of its adoption of a flexible business strategy, and its distinction in operating performance in addition to its long -term investment plans, and this achievement supports Abu Dhabi’s vision in becoming a global airline center, which establishes the position of the pioneer in the global aviation market, and our continuous growth reflects the durability of our business model and our commitment to providing innovative global levels Our partners from our headquarters in Abu Dhabi.

For his part, Mansour Janahi, Managing Director, CEO of Sanad Group, said that the year 2024 constituted a milestone in the Sanad march, and our revenues exceeded 4.92 billion dirhams as evidence of the strength of demand by the global airline market on our services, and our advanced capabilities in the field of maintenance, reform and age of engines and financing solutions and thanks to our strategic expansions and new partnerships with engines and airlines factories and our focus on Innovation and providing distinguished services to our customers, we are in a strong position to maintain our progress and leadership of the aviation sector in Abu Dhabi.

The support of its position strengthened a leading and independent provider in providing maintenance, repair and age services, recording 161 engines maintenance, an increase of 29% compared to 2023.

This rise came with the increasing demand for the maintenance of TRENT 700, V2500, and Leap engines. To keep pace with this demand, it has invested the support of more than 100 million dirhams in its maintenance and age services to ensure the provision of the latest technologies in the field.

In 2024, the Maintenance, Repair and Umrah Unit in Sanad maintained 54 V2500 engines, 40 TRENT 700 engines, 28 “Genx” engines, and 21 “LEAP” engines, in addition to carrying out more than 43 thousand engines cutting and 19,000 internal repair operations.

In addition, the bond of seven new customers received in 2024, bringing the total customer base to more than 40 customers, including leading airlines and original equipment manufacturers worldwide.

Sanad witnessed a remarkable growth in its operating forces during 2024, after the number of its employees increased by 20%, with more than 130 new employees joining.

The group continued its commitment to enhance its resettlement strategy, as the percentage of Emiratis in the workforce increased to 32% of the total number of employees, recording a 19% increase compared to the previous year.

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