Abu Dhabi’s Sanad reports AED 2.3 billion in revenue in first half of 2024

The group has expanded its global presence and generated new business outside the UAE | Supplied Image

Abu Dhabi’s global aerospace engineering and leasing solutions company Sanad Group has reported AED 2.3 billion in revenue for the first half of 2024.

Owned by Mubadala Investment Company PJSC, Sanad projects full-year revenues of AED 4.5 billion, an achievement underscoring the company’s strategic initiatives and growth trajectory within the global aviation industry.

“Our robust performance reflects our steadfast commitment to our strategic vision, which supports the UAE’s aviation ambitions on the global stage,” said Amer Siddiqui, Group Chairman of Sanad.

The company has projected continued growth in its topline and is expecting to generate revenues of AED 4.5 billion by the end of this year, marking a 28% increase over 2023 and doubling the revenue of 2022.

The group has also expanded its global presence and generated new business outside the UAE, elevating the services of the business to an export-driven establishment, with approximately 96% of the Group’s revenue generated from outside the UAE.

During the first half of the year, the company bolstered its backlog through new agreements with major international airlines like Asiana Airlines and Deucalion Aviation, increasing Sanad’s global order book to AED 33 billion.

Sanad has solidified its market position with strategic agreements and partnerships, enhancing current operations and paving the way for future aerospace sector agreements.

Aviation 360