Abu Dhabi transfers full ownership of Etihad Aviation Group to wealth fund ADQ
Transfer of EAG adds to ADQ’s efforts to transform Abu Dhabi into a global aviation hub
Dubai: The Supreme Council for Financial and Economic Affairs has transferred Etihad Aviation Group’s full ownership to the Abu Dhabi sovereign wealth fund ADQ, it said on Tuesday.
The transfer of EAG adds to ADQ’s efforts to transform Abu Dhabi into a global aviation hub. “ADQ’s aviation strategy is focused on delivering airlines and passengers a globally competitive value proposition specializing in aircraft engineering, cargo and ground handling services and an unrivaled customer experience through the anticipated opening of Abu Dhabi Airports’ new Midfield Terminal,” the fund said in a statement.
“The aviation sector is critical to Abu Dhabi’s economic growth plans and prosperity,” said Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ. “With Etihad joining ADQ’s mobility and logistics cluster, we are well positioned to develop a globally competitive and integrated aviation portfolio to enhance Abu Dhabi’s connectivity and overall value proposition.”
Earlier this year, EAG’s ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company. With the addition of EAG, ADQ’s aviation portfolio includes major enterprises which support Abu Dhabi’s vision to create an integrated aviation hub, which include Abu Dhabi Airports, Wizz Air Abu Dhabi and ADQ Aviation & Aerospace Services Company.
Etihad Airways' journey
Etihad Airways, the national airline of the UAE, was formed in 2003 and quickly went on to become one of the world’s leading airlines. From its home in Abu Dhabi, Etihad flies to passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America. Together with Etihad’s codeshare partners, Etihad’s network offers access to hundreds of international destinations. In recent years, Etihad has received numerous awards for its superior service and products, cargo offering, loyalty programme and more.
Etihad was named the Airline Ratings Environmental Airline of the Year 2022.
By placing huge orders for widebody aircraft, the Abu Dhabi-based carrier has established itself as one of the region’s key intercontinental carriers. This was underlined by its operation of the Airbus A380 from 2014. Etihad made history by ordering a whopping $43 billion worth of aircraft at 2008 Farnborough Airshow. Wings Magazine reported that this featured both Airbus and Boeing jets, and comprised 100 firm orders, 55 options, and 50 purchase rights.
The Finance division is responsible for the management of all financial matters at Etihad Aviation Group including Procurement and Supply Chain management. In addition to this, Fleet Planning, Corporate Strategy, Investor Relations and the Group Business Shared Services team sit within Finance.
Human Resources & Organisational Development
The division supports Etihad’s strategic and operational agenda with a centralised HR delivery model, focusing on customer service and employee engagement. With a growing focus on transformation and digital technology, the team are also driving the adoption of cloud-based HR systems and working to build a mobile-enabled workforce.
Operation
The division’s responsibilities cover all aspects of the airline’s operation from network planning, sales, and ticket pricing, to flight operations, network operations, airport operations, aircraft maintenance, and training. As well as overseeing Etihad’s global network of airport handlers, the division also manages passenger, cargo and catering services at Etihad’s hub in Abu Dhabi for Etihad and for third party airlines.
The division includes the wholly-owned ground handling company, Etihad Airport Services, and the wholly-owned approved training organisation, Etihad Aviation Training.
Guest Experience, Brand & Marketing
This division oversees the customer-facing aspects of the business - the airline’s Customer Experience & Service Delivery department, the Marketing, Brand and Sponsorship department, Etihad Guest, the airline’s award-winning loyalty programme, and its global Contact Centres.
Digital Technology & Innovation
The Digital Technology & Innovation division is responsible for all aspects of digital, innovation and technology, as well as planning, developing and operating the infrastructure and application portfolio for the whole group.
Digital Technology & Innovation works with various incubators and start-ups to bring leading-edge technology and concepts into the group and works with all key divisions to streamline and digitise processes in the front and back offices.