Etihad transfers its units to the new ADQ company
Etihad Airways and ADQ, one of the largest holding companies in the Middle East, have announced a proposed transaction that will see a number of Etihad companies providing support services to airlines become part of a new ADQ aviation company. Upon completion of the transaction, airline support services activities will benefit from being part of ADQ’s broad mobility and logistics portfolio, which includes Abu Dhabi Airports and AD Ports Group. The companies included in the proposed transaction are Etihad Engineering, Etihad Airport Services Cargo, Etihad Airport Services Ground, Etihad Aviation Training, Etihad Secure Logistics and Etihad Technical Training.
Additionally, the proposed transaction will see two Etihad companies join the Abu Dhabi National Exhibition Company (ADNEC). Etihad Airport Services Catering will combine with ADNEC Capital Hospitality’s catering business, and Etihad Holidays will join ADNEC’s tourism promotion business, Tourism 365.
The proposed deal marks the start of a new chapter for Etihad Airways, allowing the airline to focus more on its core business and respond with greater agility to market opportunities as global travel demand rebounds after COVID-19.
Mohamed Hassan Alsuwaidi, CEO of ADQ, said: âWith the proposed addition of Etihad’s experienced aviation support activities to our new dedicated aviation company, ADQ is poised to develop a platform of Integrated performance-oriented aviation and a solid financial base through its new business. With an integrated mobility and logistics portfolio playing a leading role in the development of Abu Dhabi’s global connectivity, we are well positioned to unleash the growth potential of these aviation services businesses. We see the potential to capitalize on growth opportunities, attract a broader airline customer base, and drive the future expansion of Abu Dhabi’s aviation sector.
Tony Douglas, CEO of Etihad Aviation Group, said: âWe are delighted to partner with ADQ for the next step in our transformation. The past two years have changed the face of aviation and the proposed deal marks an important milestone in how we are repositioning Etihad Airways and our subsidiaries for long term success. This agreement will allow us to focus 100% on Etihad Airways to capitalize on the recovery in travel demand and will benefit our staff, the millions of guests who travel with Etihad Airways each year, and the aviation industry in Canada. broad sense of Abu Dhabi. We are working closely with the ADQ to ensure the smoothest possible transition. By focusing on our airline business, we will continue to deliver the best-in-class sustainable travel experience that our customers expect from Etihad Airways. “
Humaid Matar Al Dhaheri, Managing Director and CEO of Abu Dhabi National Exhibitions Company (ADNEC) Group said: âThe inclusion of Etihad Airport Services Catering and Etihad Holidays supports Abu Dhabi’s strategy to achieve integration between various business units in exciting economic sectors. This approach will allow us to go beyond customer expectations by building on what has already been done. Our goal remains to reach milestones and continue working to improve competitiveness at regional and international levels, as well as increase contributions to Abu Dhabi’s economy and support sustainable development. “
The companies joining the new ADQ airline and ADNEC will remain key long-term strategic partners for Etihad Airways. The transaction is subject to customary closing conditions, including regulatory approvals. Terms of the transaction were not disclosed.
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