Etihad Airways wins top honours at the prestigious Adam Smith Awards
Following a string of recent awards for its funding activities and treasury practice, Etihad Airways swept top honours at the Treasury Today Adam Smith Awards in London.
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.
Winning the Top Treasury Team Award, against a field of strong international competition, Etihad Airways’ Treasury Department was recognised for its innovative transformation and centralisation programmes that have made an outstanding contribution to the airline.
Presented at a gala luncheon in The City of London’s historic Gibson Hall, the awards were collected by Ricky Thirion, Etihad Airways’ Group Treasurer; and Deputy Treasurer, Adam Boukadida.
James Hogan, Etihad Aviation Group President and Chief Executive Officer, said: “Innovation is at the heart of everything we do at Etihad Airways. These latest awards are a testimony to the talent in our finance team. 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.”
James Rigney, Etihad Aviation Group Chief Financial Officer, said: “The performance of our treasury team this last year has been remarkable. These highly coveted awards, especially the team of the year award, are very well deserved. The success they have had is a catalyst for Etihad Aviation Group’s plans for further growth and investment.”
Angela Berry, Co-founder and Group Publisher at the Treasury Today Group, said: “The Adam Smith 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) US$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 US$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.