Etihad Airline bags top honor

By Brian Yatich

International airline of the United Arab Emirates, Etihad has scooped an award at  Adam Smith Awards, a global award ceremony held in London recognising excellence and achievement in the corporate treasury space.

Etihad Airways’ treasury team collected the highest honour, winning the Top Treasury Team Award for overall excellence. The team also picked up the awards for Best Financing Solution and Best Cash Management Solution.

The airline’s treasury department was recognised for its innovative transformation and centralisation programmes that have made an outstanding contribution to the airline.

James Hogan, Etihad Aviation Group President and Chief Executive Officer said that these latest awards are a testimony to the talent in our finance team.

Also read: Etihad scoops airline of the year award

“Our strategy is clear and finance is a core enabler of that strategy – a business model that focuses on organic growth and minority investments in airlines around the world. Our equity partner strategy is creating a total which is greater than the sum of its parts, a grouping working together to improve revenues, reduce costs and uncover exciting new business synergies.” he said

James Rigney, EAG CFO, said that the performance of their treasury team last year has been remarkable.

“The success they have had is a catalyst for Etihad Aviation Group’s plans for further growth and investment.” He added

Angela Berry, Co-founder and Group Publisher at the Treasury Today Group, said: “The awards are the ultimate industry benchmark for achievement in corporate treasury, Etihad Airways is to be congratulated for sweeping so many of this year’s awards.”

The Best Financing Solution Award was in recognition of the landmark Etihad Airways Partners’ (EAP) USD 700 Million debt capital markets transaction completed in September 2015. Seen as the first joint financing deal of its kind in the airline industry, the ground-breaking transaction was aimed at funding EAP’s expansion.

A further USD 500 million has since been raised in a second transaction completed last month  reflecting the financial markets’ continued confidence in the Etihad Airways Partners story.

The implementation of an innovative global cash management solution that unlocked liquidity, introduced cost savings, and allowed Etihad Airways to manage, control and report global cash centrally, was recognised with the Best Cash Management Award.

The new solution brought about greater economies of scale, increased operational efficiency, enhanced financial returns and immediate solutions to local needs across the airline’s worldwide operations.

This award follows a string of other recent awards for Etihad Airways’ Treasury Department including;

Emerging Europe Middle East and Africa Bond of the Year from International Financing Review (IFR)

Debt Financing Deal of the Year Middle East from Global Transport Finance

Air Finance Journal’s Innovative Deal of the Year.

Large Treasury Team of the Year – Association of Corporate Treasurers Middle East (ACTME)

Treasury Innovation Award – Treasury Management International (TMI)

Corporate Finance Deal of the Year – Association of Corporate Treasurers’ Middle East (ACTME)