Mubadala Development has signed a ten-year contract with Air Berlin to finance spare engines and provide engine maintenance for the airline’s fleet of aircraft.
The company will finance 12 spare engines, each worth $100m, in a sale-and-lease-back agreement with Air Berlin, according to Aviation Week.
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Mubadala will also provide maintenance of the spares for Air Berlin’s 13 Airbus A330s, 55 A320s and 55 Boeing 737 NGs.
SR Technics, the firm’s MRO subsidiary, will provide services including scheduled overhaul support and field team assistance for the CF56-7B, CF56-5B and PW4168 engines.
