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

CCD to create control rooms for Abu Dhabi’s new Midfield Terminal

CCD Design and Ergonomics has been appointed to design and create four new control rooms at the new Midfield Terminal at Abu Dhabi International Airport.

Ras Al Khaimah wins Middle East’s Leading Adventure Destination 2018’ award

Ras Al Khaimah Tourism Development Authority (RAKTDA) has celebrated two major wins at The World Travel Awards 2018.

Etihad Airways to host AI Robot Sophia at ATM

Etihad Airways will introduce Humanoid Robot Sophia to the UAE as a spokesperson for the future of innovation and technology in aviation at ATM.

İstanbul New Airport will house 451-room hotel to be operated by YOTEL

İGA, the constructer and operator of İstanbul New Airport (İNA) for 25 years,and YOTEL, the London based hotel group, have signed an exclusive hotel management contract.

Emirates wins four gongs at World Travel Awards Middle East 2018

Emirates has been recognised at the World Travel Awards Middle East 2018 with four awards - Middle East’s Leading Airline, Middle East’s Leading Airline Brand, Middle East’s Leading Business Class Airport Lounge and Middle East’s

Emirates Aviation University receives official visit from Dubai Police

Emirates Aviation University has welcomed Major-General Abdullah Khalifa Al Marri, commander-in-chief of Dubai Police at its main campus at Dubai Academic City.

SOFEX SK2018
See us at
ASDubai BT1004091018ArabianTravelMkBT250418Cargo BT1004091018Istanbul Airshow BT22018BIAS BT271017161118GATM BT1004061118Global Aerospace BT2018MEBAA BT1004121218AirportShow BT1502090518SOFEX BT2018