Subscribe Free
in Events

Etihad Airways honoured with 2016 Treasury of the Year award

Posted 28 February 2017 · Add Comment

Etihad Airways has been honoured with the 2016 Treasury of the Year award by Treasury Management International (TMI) for a string of achievements over the past 12 months. The annual TMI Corporate Recognition Awards, held in London, reflect achievements in treasury and finance policy, practice and innovation.

The Abu Dhabi-based airline’s treasury department was once again recognised for excellence in capital raising and to drive efficiency across the business.

Etihad Airways secured landmark funding agreements from the international financial community that raised over US$2.7 billion in the debt capital markets, as well as evolving its treasury systems infrastructure and streamlining processes to improve productivity.

In 2016, Etihad Airways drove the issuance of a second Etihad Airways Partners bond transaction of US$500m, together with a debut US$1.5 billion five-year Sukuk issuance, the largest ever non-sovereign Sukuk.

Etihad Airways also implemented leading edge treasury systems technology to drive greater efficiency, and radically reduced the number of suppliers for the bulk of its global transactional banking services to just two following a thorough evaluation of cash management capabilities.

The National Bank of Abu Dhabi (NBAD) was chosen as the airline’s Middle East strategic partner and Citi was named Etihad Airways’ international cash management bank affiliate in all other global markets.

James Hogan, Etihad Aviation Group President and chief executive officer, said: “As we continue to look at ways to enhance cost efficiencies, drive more benefits and improve global leverage for the business, our Group Chief Financial Officer James Rigney and his treasury team led by Ricky Thirion have developed a stronger framework of innovative transactions and processes for the business to remain more competitive

“We have evolved from a small airline in 2003 to a world-leading aviation and tourism group today, meaning our treasury needs and challenges have grown significantly with scale and complexity.”

* required field

Post a comment

Other Stories
Advertisement
Latest News

Stratajet heads for the Middle East

A private jet online booking company is about to launch in the Middle East. But, before it does, the company's founder will be undertaking a unique recce. Dave Calderwood reports.

Yahsat enters long-term partnership with X SAT FZE

Yahsat has started a long-term strategic partnership with UAE communications solutions company X SAT FZE. Under the agreement, X SAT is committed to capacity on Yahsat's upcoming Ka-band satellite, Al Yah 3, to be launched later this

Travelport and Abu Dhabi's Bin Ham Travel Group sign long term partnership

Travelport has announced a new, multi-year agreement with Bin Ham Travel Group.

FlightSafety starts only factory-authorised Gulfstream G650 training programme

FlightSafety International has announced the start of the only factory-authorised Gulfstream G650 training programme located close to operators in Europe, the Middle East, and surrounding regions.

BAA Training and IFTC sign a FFS lease agreement

BAA Training has signed a cooperation contract with International Flight Training Center (IFTC). The agreement covers lease of Airbus A320 and Boeing 737NG FFS for BAA Training students' training in Turkey.

Turkey in pilot crisis after failed coup attempt

After a failed coup attempt and a series of subsequent purges, Turkey's air force has undergone a major reorganisation, with several units disbanded and large numbers of personnel arrested. As a result, the force now faces serious pilot

TAA
See us at
EBACE17 BT0103240517Kuwait APADS BT1602270317Aeropodium BT2802240417