Plans to support the growth of the aviation sector in Abu...

Plans to support the growth of the aviation sector in Abu...
Plans to support the growth of the aviation sector in Abu...

Etihad Airways and ADQ Holding, one of the largest holding companies in the region, announced yesterday a proposed deal that will support the transformation plans of Etihad Airways as well as future growth projects for the civil aviation sector in Abu Dhabi.

As part of the proposed deal, a number of support aviation services affiliated to the “Etihad” will become part of a newly established company affiliated to the “Holding” specialized in aviation services.

Once the transaction is completed, the carrier’s subsidiaries will benefit from joining an extensive logistics portfolio that includes: Abu Dhabi Airports and Abu Dhabi Ports Group.

The deal will include the following companies: Etihad Engineering, Etihad Airport Services – Cargo, Etihad Airport Services – Ground Handling, Etihad Aviation Training, Etihad Secure Logistics and Etihad Technical Training.

In addition, the proposed deal will include the joining of two companies from “Etihad Airways” to the Abu Dhabi National Exhibitions Company (ADNEC), namely, Etihad Airport Services – Catering, which will join Capital Hospitality, and Etihad Holidays, which will join “Tourism 365”, the tourism promotion company. Affiliate of ADNEC.

The proposed deal will be the beginning of a new chapter for “Etihad Airways”, as it will allow the company more scope to focus on its core business, and respond faster to market opportunities, with global travel demand recovering from the consequences of the “Covid-19” pandemic.

Cases and news

Through its extensive network, resources and expertise, the “Holding” will support the future growth of these companies, which will benefit “Etihad Airways” and other airlines at Abu Dhabi International Airport, as well as strengthening the aviation ecosystem in Abu Dhabi.

In this regard, the CEO of “ADQ” holding, Mohammed Hassan Al-Suwaidi, spoke: “With the proposed addition of the highly experienced aviation support services of (Etihad) to our new company specialized in the aviation sector, (ADQ Holding) will be fully prepared. To develop an integrated platform for air services, based on performance and a solid financial foundation.”

He added: “Thanks to the transportation and logistics portfolio that plays a leading role in developing Abu Dhabi’s global connectivity network and enhancing its strategic position, we are ready to take advantage of the new opportunities available in the aviation services business.”

He continued, “There are many potential opportunities for growth and to attract a wider segment of customers from airlines, while seeking further expansion in the aviation sector in Abu Dhabi.”

transformation process

In turn, Tony Douglas, Group Chief Executive Officer of Etihad Aviation Group, said: “We are delighted to enter into this partnership with (Holding) in the next phase of the transformation of our business. The past two years have had a significant impact on the sector, and the proposed agreement will play an important role in the way Etihad Airways is reorganized and prioritized along with its subsidiaries to ensure long-term success.”

He added: “This agreement will allow us to focus more on (Etihad Airways) and benefit from the recovery in air travel demand, which will also benefit our employees and the millions of our guests who fly with us annually, as well as the benefit that will accrue to the broader air sector. in Abu Dhabi”.

He continued, “Today we are working closely with (the holding) to make sure that the transfer process is completed as easily as possible. Focusing on the airline’s business today will allow us to continue to deliver the sustainable and differentiated travel experiences across the industry, as our customers (Etihad Airways) have come to expect of us.”

business units

Humaid Matar Al Dhaheri, Managing Director and CEO of Abu Dhabi National Exhibitions Company (ADNEC) and its group companies, said: “The inclusion of Etihad Airport Services – Catering Division, and Etihad Holidays supports Abu Dhabi’s strategy of achieving integration between various business units across sectors. important economic.

He said: “This step will allow us to exceed the expectations of our customers and develop what has been achieved to date. It remains for us to focus on achievements and continue hard work, to enhance competitiveness at the regional and international levels, as well as increase our contributions to Abu Dhabi’s economy and support sustainable development.”

Transferred companies

The transferred companies will remain a long-term strategic partner of Etihad Airways. The transaction is subject to the usual closing conditions, including regulatory approvals. It is noteworthy that the terms of the deal have not yet been disclosed.

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I have been an independent financial adviser for over 11 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community. Address: 2077 Sharon Lane Mishawaka, IN 46544, USA Phone: (+1) 574-255-1083 Email: [email protected]