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Etihad Airways took top honours at the prestigious 2022 Middle East, Africa and Islamic Aviation Economy 100 Awards.
The airline won the coveted Middle East and Africa Airline of the Year award, with CFO Adam Bucadida winning the Middle East and Africa CFO of the Year award for the second year in a row.
Now in its 11th year, the Airline Economics Awards are held annually to recognize outstanding corporate, personal and financial transactions in the commercial aviation industry.
Boukadida said: “We are very proud to be named Airline of the Year by Airline Economics, which coincides with our 19th birthday at Etihad Airways. The award goes to our entire organisation and is the result of our successful transformation Proof that every member of the Etihad family has played an important role in it. It’s a great way to celebrate our impressive first nine months of 2022.”
Airline Economics recognized Etihad Airways’ successful turnaround, which resulted in the airline posting a record core operating profit of $296 million in the first half of 2022, while EBITDA rose by more than $600 million to $691 million over the same period. The judges also considered profit, debt, passenger capacity, RPK, orders and routes for the Airline of the Year awards.
The CFO of the Year was selected based on funding transactions within a 12-month period, consistency of performance and Etihad Airways’ transactional track record, and feedback on the corporate and finance functions from key regional and global counterparties and strategic partners.
In October 2021, Etihad Airways raised a groundbreaking US$1.2 billion loan, the first sustainability-related loan linked to the environmental, social and governance (ESG) goals of the global aviation industry.
The airline has won numerous awards for the deal, including:
• Sustainability Finance Overall Deal of the Year in the Airline Economy 100 Deals of the Year Awards 2022
• ESG Lending Deal of the Year at Bonds, Loans and Sukuk Middle East Awards 2022
• Treasury Project of the Year – Sustainability Initiative at the Corporate Treasury Institute Middle East Treasury Awards 2022. -TradeArabia News Service
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