Subscribe Free
in Business & Finance

Etihad Airways signs CITI as international cash management bank partner

Posted 24 February 2016 · Add Comment

Etihad Airways has announced an enhanced agreement with Citi as its international cash management bank partner.

The new mandate, covering Etihad Airways' worldwide operations outside the GCC, will enable the airline to leverage Citi’s substantial investment in financial technology to further develop its cash management operations and help reduce costs. 

Etihad Airways will now be able to utilise Citi’s Liquidity Management solution to achieve substantial cash optimisation and competitive market rates through automated treasury tools, resulting in significant transaction cost savings. 

Citi's cash management solution rationalises account opening processes and moves the Abu Dhabi-based carrier to a fully automated and centralised account administration, and automated account payable and account receivable management tools to achieve better control and minimise transactional risks. 

The enhanced partnership comes a year after the signing of an innovative Supply Chain Finance (SCF) agreement between Etihad Airways and Citi enabling the airline to unlock liquidity and pay its suppliers almost immediately through funding provided by the bank. 

James Rigney, Etihad Airways chief financial officer, said: “We are delighted to have entered into this agreement with Citi which is designed to drive more cost benefits for our business on a global level. As Etihad Airways continues to grow, this partnership will help bring about greater economies of scale, increased operational efficiency, enhanced financial procedures and immediate solutions to local needs across our worldwide operations.” 

Emre Karter, managing director and regional head – treasury and trade solutions (Middle East, North Africa, Pakistan & Turkey), said: “At Citi, we value our strategic alliance with Etihad Airways which is one of the world’s fastest growing airlines, and we're proud to provide global cash management services that meet the exact needs of the carrier.  This is demonstrative of our ability to offer clients worldwide, local and regional solutions with global service standards.” 

* required field

Post a comment

Other Stories
Advertisement
Latest News

Safran breakthrough channels communication to a new level

Communications technology provides answers for improving the safety, efficiency and cost of line and base maintenance operations. Chuck Grieve has been finding out more.

Emirates Airline Foundation recognised for its global humanitarian efforts

The Emirates Airline Foundation has been recognised by the UAE Ministry of Foreign Affairs and International Cooperation (MoFAIC) for its outstanding humanitarian and outreach projects and work that spans the globe.

Embraer to make impact with debuts at EBACE

Embraer will debut the Phenom 100EV business jet at the European Business Aviation Conference and Exhibition (EBACE) in Geneva, Switzerland, from May 29 to May 31.

Qatar Airways touches down at London Gatwick Airport

Qatar Airways has commenced flights to London Gatwick Airport.

Dubai Airports rolls out first cloud based Flight Information Display Solution

Dubai Airports, in partnership with Samsung Electronics and AirportLabs has rolled out an advanced cloud-based Flight Information Display solution along with System on Chip (SoC) display technology at Dubai International (DXB) and

The delayed Muscat International Airport has now arrived

Oman Airports Management Company (OAMC) successfully opened the new passenger terminal building at New Muscat International Airport last month, as it overcame a plethora of delays over the last two years.

TAA SK0902311218
See us at
Cargo BT1004091018MEBAA BT1004121218EBACE 2018BIAS BT271017161118ASDubai BT1004091018GATM BT1004061118Istanbul Airshow BT22018