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Etihad Airways and ADQ, one of the largest holding companies in the region, today announced a proposed transaction that will support the continued transformation of Etihad Airways and the future development of Abu Dhabi’s civil aviation industry. As part of the proposed transaction, some businesses of Etihad’s airline support services will become part of a new ADQ airline.
After the transaction is completed, the airline support services business will benefit from being part of ADQ’s extensive mobility and logistics portfolio, which includes Abu Dhabi Airport and AD Ports Group.
The businesses included in the proposed transaction include Etihad Engineering, Etihad Airport Service Cargo, Etihad Airport Service Ground, Etihad Aviation Training, Etihad Security Logistics and Etihad Technical Training.
In addition, the proposed transaction will allow two Etihad companies to join the Abu Dhabi National Exhibition Corporation (ADNEC). Etihad Airport Service Catering will be merged with ADNEC’s catering business Capital Hospitality, and Etihad Holidays will join ADNEC’s tourism promotion business Tourism 365.
The proposed agreement marks the beginning of a new chapter for Etihad Airways. As global travel demand rebounds from COVID-19, the airline can further focus on its core business and respond to market opportunities with greater flexibility.
ADQ CEO HE Mohamed Hassan Alsuwaidi said: “With the proposal of Etihad Airways’ experienced aviation support business to join our newly established dedicated airline, ADQ is ready to develop an integrated aviation platform driven by performance and a sound financial foundation through its new company. With an integrated transportation and logistics portfolio that plays a leading role in the development of Abu Dhabi’s global connectivity, we are well-positioned to unlock the growth potential of these aviation services businesses. We see the potential to capitalize on growth opportunities, attract a wider airline customer base, and drive the future expansion of Abu Dhabi’s aviation industry. “
According to Tony Douglas, CEO of Etihad Aviation Group“We are very pleased to work with ADQ in the next phase of transformation. The aviation industry has changed the face of the past two years, and the proposed agreement marks an important part of our repositioning of Etihad Airways and its subsidiaries for long-term success. Milestones. This agreement will allow us to focus 100% on Etihad Airways to take advantage of the renewed travel needs, and enable our employees, the millions of passengers who fly on Etihad Airways each year, and Abu Dhabi’s wider aviation industry benefits. We are working closely with ADQ to ensure that the transition is as smooth as possible. With a new focus on our aviation business, we will continue to provide what our guests expect from Etihad Airways A top-notch and sustainable travel experience.”
Said Humaid Matar Al Dhaheri, Managing Director and Group CEO of Abu Dhabi National Exhibition Corporation (ADNEC)“The addition of Etihad Airport Service Catering and Etihad Holidays supports Abu Dhabi’s strategy, which aims to achieve the integration of various business units across the exciting economic sector. This move will enable We are able to exceed our customers’ expectations on the basis of the work that has been done. Our focus remains on achieving milestones and continuing our efforts to improve competitiveness at the regional and international levels, as well as increase our contribution to Abu Dhabi’s economy and support sustainable development.”
The new airlines joining ADQ and the companies of ADNEC will remain important long-term strategic partners of Etihad Airways.
The transaction is subject to customary closing conditions, including regulatory approval. The terms of the transaction were not disclosed.
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