Ricky Thirion, Etihad Aviation Group Interim Group Chief Financial Officer, said: “These awards are testament to the great work by the treasury team in finding solutions to further strengthen the business in a challenging environment.
“Our treasury team has worked very hard over the years to deliver a best in class global treasury department, and the fact that we were nominated by our key financial partners demonstrates their confidence in our business.”
The Best in Class Treasury in the Middle East award was for a number of innovative practices, including raising US$1.5billion through a debut Sukuk, the largest ever in Abu Dhabi, as well as a Murabaha programme for US$145 million – the airline’s first Islamic private placement.
The Best Trade/Supply Chain Finance Solution accolade acknowledged EAG’s agenda to centralise treasury operations in the UAE by overhauling processes using technology and reducing manual intervention with its growing supply chain network.
The Best Funding Solution award recognised Etihad’s treasury team for leading a short-term, cost effective bridging solution of US$230 million over a six-month period for two new A380s in the wake of the suspension of European credit agency support for Airbus aircraft deliveries.
The Best Risk Management Solution award reflected the high level of investment in technology aimed at reducing manual processing of all key treasury requirements.
Etihad Airways’ treasury team, hailing from a variety of backgrounds and nationalities, leveraged off each other’s skills to make a positive impact to the business. The team manages and oversees cash and liquidity, risk management and hedging funding, as well as relationships with banking partners, investors and rating agencies. The treasury team is also responsible for insurance, direct customer payments, as well as group wide tax management.
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