Can you walk us through some of the recent milestones?
As the leader in engineering excellence and innovation for over three decades, Sanad Aerotech has added several historic milestones to its steadily growing list of achievements in 2019. We re-branded from Turbine Services & Solutions to Sanad, which signaled our readiness to embrace the future and re-enforced our unwavering commitment to placing our customers at the centre of our growth strategy. Our re-branding then got off to a flying start as we signed, within the same year, key agreements totaling more than AED24.5 billion. This considerable achievement has re-enforced our standing as a leader in the global maintenance, repair, and overhaul (MRO) industry and showed the global market's growing confidence in Abu Dhabi's and the UAE's leadership in the global aerospace sector. The signed contracts have also re-affirmed our status as a trusted, reliable and long-term partner for some of the world's largest OEMs, including Rolls-Royce, GE Aviation, and International Aero Engines (IAE), and the preferred aircraft engine MRO solutions provider for well-established and fastest growing international commercial airlines across the globe. Our standing as a Trent 700 Authorized Maintenance Center was confirmed through the nine-year AED24-billion deal we signed with Rolls-Royce at the Paris Airshow. This will effectively triple the number of Trent 700 engines we service annually from 25 to 75. We have diversified our product mix and added the most successful engine program in the history of commercial aviation into our portfolio as we signed a new landmark 15-year deal with GE valued at AED500 million. With around 18,000 LEAP engines designed for single-aisle aircraft in the delivery backlog, Sanad will become the first company to provide MRO solutions for the LEAP engine to the South Asian, Middle Eastern, and North African markets by 2021. We have also embarked on a digitalization strategy and early adoption of 4IR technologies at our 15,000-sqm state-of-the-art turbine repair facility at Abu Dhabi International Airport. By doing so, we are now the first aircraft engine MRO solutions provider in the world to employ several advanced technologies under one roof. Our future focus will be on delivering upon our commitments. To this end, we will further invest in our people, resources, and facilities, as well as deploy more cutting-edge 4IR technological innovations. This will increase our capacity to serve an increasingly competitive global market, as well as empower us to further expand and diversify our capabilities to support the growth and global operations of OEM partners and international commercial airline customers.
What are some of the ways that you work directly with airlines and OEMs?
Sanad Aerotech's strategy focuses on forming strong alliances with OEMs and leading global airlines. With our state-of-the-art capabilities, three and a half decades of engineering excellence, approvals from 17 civil aviation authorities, and confidence of OEMs, we will continue to strengthen our direct relationships with airlines across the world, such as TAP in Portugal, LATAM Airlines in Latin America, and Asiana in South Korea. Our partnerships with Ethiopian Airlines and Emirates Airline provide strategic opportunities that will support our business vision and growth. Our MoU with Emirates Airline through its leading aircraft engine MRO division, Emirates Engine Maintenance Centre (EEMC), is of great significance as it involves two homegrown aerospace giants. With a combined experience of over 60 years, opportunities are abound for the UAE aerospace industry to create aircraft engine MRO centers of excellence and build dedicated repair and training capabilities.
What indicators do you use to project the growth of your business?
Our business has experienced significant growth, and our future expansion is spurred by a growing global MRO market. We served 94 engines in 2018 and 125 in 2019. To support the delivery of the newly won contracts of AED24.5 billion, we will expand our engine MRO capacity from around 175 to 200 in the next two years. This means we need to double our output by end-2021.