Sanad, which is currently the only independent Trent 700 MRO facility globally, works in partnership with original engine manufacturers. Photo: EDGE Group
Sanad, which is currently the only independent Trent 700 MRO facility globally, works in partnership with original engine manufacturers. Photo: EDGE Group
Sanad, which is currently the only independent Trent 700 MRO facility globally, works in partnership with original engine manufacturers. Photo: EDGE Group
Sanad, which is currently the only independent Trent 700 MRO facility globally, works in partnership with original engine manufacturers. Photo: EDGE Group

Dubai Airshow 2021: Edge collaborates with Sanad to service Rolls-Royce Trent 700 engines


Shweta Jain
  • English
  • Arabic

Abu Dhabi's Sanad, the aerospace engineering and leasing solutions unit of Mubadala Investment Company, signed an agreement with GAL, the maintenance, repair and overhaul (MRO) unit of the UAE defence conglomerate Edge, to support it to provide maintenance services for Rolls-Royce’s Trent 700 engines.

The partnership will support GAL’s three-year performance-based logistics (PBL) contract it secured from the UAE Air Force Air Defence (AFAD) on Sunday.

GAL and Sanad will provide MRO support to service the engines, reducing the current turnaround time and shop visit costs by eliminating the need to ship engines outside the UAE, the companies said on Monday.

Rolls-Royce Trent 700 engines power the UAE’s Airbus A330 Multi Role Tanker Transport (MRTT) fleet.

“This agreement marks a major step in our strategic long-term collaboration with GAL and Edge,” Mansoor Janahi, deputy group chief executive of Sanad, said.

Sanad’s extensive engine MRO infrastructure and capabilities, “including the unique capabilities that we have on Trent 700 for more than 10 years" is expected to help the partnership.

The global aviation industry suffered a major blow because of the Covid-19 pandemic as movement restrictions led airlines to ground their fleet.

Although this had a spillover effect on related industries, the MRO industry is projected to grow at a compound annual growth rate of 3 per cent between 2019 and 2031, according to OliverWyman’s estimates.

“While the market is beginning to recover, the long-term MRO growth trend is now roughly half of pre-Covid expectations. The combination of near-term lower demand and long-term growth prospects has created an attractive environment for private equity investors, and interest in MRO is high,” the consultancy said in its report.

Sanad, which is currently the only independent Trent 700 MRO facility globally, works in partnership with original engine manufacturers including Rolls-Royce, GE Aviation and International Aero Engines. The company provides engine maintenance services across several major aircraft platforms, including Airbus and Boeing.

“This is a strategically important partnership between two national entities, which have great significance for indigenous future technologies, supporting local talent and capabilities, and ultimately contributing to the UAE economy,” said Khalid Al Breiki, president of Mission Support at Edge, and managing director of GAL.

“Sanad’s contributions to GAL will be another key component in delivering cutting-edge maintenance capabilities within the region.”

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Dubai Airshow 2021 day two - in pictures

  • A visitor looks at a Chinook helicopter on the second day of the Dubai Airshow 2021. All photos: Chris Whiteoak/ The National
    A visitor looks at a Chinook helicopter on the second day of the Dubai Airshow 2021. All photos: Chris Whiteoak/ The National
  • Visitors attend day two of the Airshow.
    Visitors attend day two of the Airshow.
  • A Chinook helicopter.
    A Chinook helicopter.
  • Drones on display at the Mubadala stand.
    Drones on display at the Mubadala stand.
  • Cary Jacobson sits at the controls of a full scale mock-up of the F-35.
    Cary Jacobson sits at the controls of a full scale mock-up of the F-35.
  • A visitor takes a picture of a Boeing T-7.
    A visitor takes a picture of a Boeing T-7.
  • Plane cufflinks for sale at the Airshow.
    Plane cufflinks for sale at the Airshow.
  • An Airbus Zero E model on display.
    An Airbus Zero E model on display.
  • A QX 5 drone.
    A QX 5 drone.
  • Bellwether Volar, the private urban aircraft, on display.
    Bellwether Volar, the private urban aircraft, on display.
  • A Golden Eagle CR500A unmanned helicopter system.
    A Golden Eagle CR500A unmanned helicopter system.
  • GeoDrones on display.
    GeoDrones on display.
  • Private urban aircraft Bellwether Volar.
    Private urban aircraft Bellwether Volar.
  • Chief executive and founder of GeoDrones Mohamed Shawky.
    Chief executive and founder of GeoDrones Mohamed Shawky.
  • Sheikh Ahmed bin Saeed, Emirates' chairman and chief executive.
    Sheikh Ahmed bin Saeed, Emirates' chairman and chief executive.
  • An air display by Surya Kiran.
    An air display by Surya Kiran.
  • An air display by the Airbus A350.
    An air display by the Airbus A350.
  • Visitors enjoy the second day of Dubai Airshow 2021.
    Visitors enjoy the second day of Dubai Airshow 2021.
  • Dubai Airshow 2021.
    Dubai Airshow 2021.
  • The second day of Dubai Airshow 2021.
    The second day of Dubai Airshow 2021.
  • An air display by Super Mushak.
    An air display by Super Mushak.
  • The Airbus A350.
    The Airbus A350.
  • Sheikh Mohammed bin Rashid and Sheikh Hamdan bin Mohammed tour the Edge stand at the Airshow.
    Sheikh Mohammed bin Rashid and Sheikh Hamdan bin Mohammed tour the Edge stand at the Airshow.
  • The Aura UAV, which is used for fighting fires, search and rescue and agriculture.
    The Aura UAV, which is used for fighting fires, search and rescue and agriculture.
  • The Etihad A350 on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
    The Etihad A350 on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
  • Sheikh Mohammed bin Rashid and Sheikh Hamdan bin Mohammed tour the Edge stand on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
    Sheikh Mohammed bin Rashid and Sheikh Hamdan bin Mohammed tour the Edge stand on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
  • Apollo 16 astronaut Charles Duke in conversation with UAE astronauts Hazza Al Mansouri (R) and Sultan Al Neyadi on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
    Apollo 16 astronaut Charles Duke in conversation with UAE astronauts Hazza Al Mansouri (R) and Sultan Al Neyadi on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
  • Apollo 16 astronaut Charles Duke in conversation with UAE astronauts Hazza Al Mansouri (M) and Sultan Al Neyadi on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
    Apollo 16 astronaut Charles Duke in conversation with UAE astronauts Hazza Al Mansouri (M) and Sultan Al Neyadi on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
  • A QX 3 drone on display on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
    A QX 3 drone on display on the second day of the Dubai airshow 2021. Chris Whiteoak/ The National
COMPANY PROFILE

Name: Cofe

Year started: 2018

Based: UAE

Employees: 80-100

Amount raised: $13m

Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group 

Museum of the Future in numbers
  •  78 metres is the height of the museum
  •  30,000 square metres is its total area
  •  17,000 square metres is the length of the stainless steel facade
  •  14 kilometres is the length of LED lights used on the facade
  •  1,024 individual pieces make up the exterior 
  •  7 floors in all, with one for administrative offices
  •  2,400 diagonally intersecting steel members frame the torus shape
  •  100 species of trees and plants dot the gardens
  •  Dh145 is the price of a ticket
Company profile

Company: Verity

Date started: May 2021

Founders: Kamal Al-Samarrai, Dina Shoman and Omar Al Sharif

Based: Dubai

Sector: FinTech

Size: four team members

Stage: Intially bootstrapped but recently closed its first pre-seed round of $800,000

Investors: Wamda, VentureSouq, Beyond Capital and regional angel investors

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
%E2%80%98White%20Elephant%E2%80%99
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Jesse%20V%20Johnson%3Cbr%3E%3Cstrong%3EStars%3A%3C%2Fstrong%3E%20Michael%20Rooker%2C%20Bruce%20Willis%2C%20John%20Malkovich%2C%20Olga%20Kurylenko%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203%2F5%3C%2Fp%3E%0A
Company Profile

Name: JustClean

Based: Kuwait with offices in other GCC countries

Launch year: 2016

Number of employees: 130

Sector: online laundry service

Funding: $12.9m from Kuwait-based Faith Capital Holding

The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%204.0-litre%20twin-turbo%20V8%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E680hp%20at%206%2C000rpm%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E800Nm%20at%202%2C750-6%2C000rpm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ERear-mounted%20eight-speed%20auto%3Cbr%3E%3Cstrong%3EFuel%20consumption%3A%20%3C%2Fstrong%3E13.6L%2F100km%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Orderbook%20open%3B%20deliveries%20start%20end%20of%20year%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh970%2C000%3C%2Fp%3E%0A

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Marathon results

Men:

 1. Titus Ekiru(KEN) 2:06:13 

2. Alphonce Simbu(TAN) 2:07:50 

3. Reuben Kipyego(KEN) 2:08:25 

4. Abel Kirui(KEN) 2:08:46 

5. Felix Kemutai(KEN) 2:10:48  

Women:

1. Judith Korir(KEN) 2:22:30 

2. Eunice Chumba(BHR) 2:26:01 

3. Immaculate Chemutai(UGA) 2:28:30 

4. Abebech Bekele(ETH) 2:29:43 

5. Aleksandra Morozova(RUS) 2:33:01  

Updated: November 15, 2021, 5:29 PM