(MENAFN- PR Newswire) Agreement adds over 6,000 OEM tagged LRU's for exchange
CHANDLER, Ariz., Jan. 23, 2023 /PRNewswire/ --
avair , an industry-leading inventory solutions provider for the aviation aftermarket, has completed an agreement with sanad , a global industrial services leader and a wholly owned subsidiary of Mubadala Investment Company (Mubadala), to provide asset management solutions for a vast array of Airbus, Boeing, and Embraer components. All material will be made available for exchange to AvAir's network of customers worldwide.
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AvAir and Sanad
With this agreement, AvAir and the Sanad Group will create one of the world's largest component exchange pools, allowing customers access to overhauled and serviceable components, when and where they are needed.
'We are pleased to announce this new program with Sanad that will greatly increase the inventory that we are able to offer to our customers on an exchange basis,' said Steven Solomon, AvAir Vice President of Sales. 'The aviation industry needs a viable solution to address the long lead times on component repairs caused by the recent disruption in global supply chains. The material made available through our pool will keep our customers flying while their components undergo the lengthy repair process.'
'Sanad has played a pivotal role in the global aviation sector for over 35 years and is now expanding its services beyond the aerospace sector,' said Kashish Kohli, Group Chief Financial Officer of Sanad Group. 'Through our agreement with AvAir, we aim to optimize our inventory and continue to support the growing need for components for the operators globally. This arrangement provides us additional liquidity to support our customers across various industrial sectors.'
AvAir, now in its 22 year in business, offers customized solutions for customers and suppliers to buy, sell, exchange, loan, lease, or consign inventories with more than 26 million in-stock components. The company is ISO 9001, AS9120, and ASA 100 certified and adheres to the highest quality standards in all phases: purchasing, receiving, stocking, sales, and shipping.
For more information about AvAir, visit avair.aero. For more information about Sanad, visit sanad group
About AvAir
Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir has been named Parts Supplier of the Year for 2021, 2022, and 2023 by Airline Economics, the leading industry trade publication. It has also been recognized for its work in sustainability by The Aviation 100 two years in a row, AvAir received the Environmental Sustainability award.
For more about AvAir, visit avair.aero .
About Sanad:
A wholly owned subsidiary of Mubadala Investment Company and a global aerospace engineering and leasing solutions leader, Sanad builds on more than three decades of aviation experience. With its name derived from the Arabic word for support, Sanad supports its customers where and when it matters most. Through engineering and leasing excellence, Sanad is underpinned by industry-leading reliability, innovation, and technology. As a leading integrated industrial service provider, Sanad is well positioned to maintain aircraft engines to the highest standards using the latest Fourth Industrial Revolution technologies and provide lease finance solutions that create value and flexibility for its customers and partners. Headquartered in Abu Dhabi with offices in
Abu
Dhabi
and Zurich, Sanad has a global customer base working closely with major OEMs and industry leading airlines.
For more information, please visit
Contact:
Claire Natale
[email protected]
202.294.5999
SOURCE AvAir