Sanad in financing, access deal with Virgin Australia

Sanad Aero Solutions, Mubadala Aerospace's component and engine financing solutions company, has executed a comprehensive financing and access agreement with Virgin Australia for the carrier's Boeing 737NG and Embraer E-Jet spare aircraft components. The new transaction follows the agreement signed in August 2011 between Virgin Australia, Sanad, and SR Technics, also part of Mubadala Aerospace. That agreement leverages the full scope of Mubadala Aerospace's global maintenance, repair and overhaul (MRO) capabilities and includes component maintenance and technical training agreements supporting the carrier's Airbus A330 fleet. It is complemented by a broad scope compon-ent financing solution from Sanad. The new transaction further expands Mubadala Aerospace's MRO relationship with Virgin Australia to cover its Boeing 737NG and Embraer E-Jet fleets.