Abu Dhabi, UNITED ARAB EMIRATES – Etihad Aviation Group’s (EAG) treasury team has once again been acknowledged for airline treasury management excellence with four key accolades at the 2017 Adam Smith Awards presented by Treasury Today magazine.
string of successes in recent months with leading awards from various international
organisations, the group took home further honours at the annual event held in
London. For the third consecutive year, Etihad Aviation Group has been
recognised by the leading publication for its ongoing commitment to Treasury
EAG won the award for Best
in Class Treasury in the Middle East, and was Highly Commended in three further
categories – Best Funding Solution, Best Risk Management Solution and Best
Trade/Supply Chain Finance Solution. The awards were nominated by EAG partners,
including Openlink, First
Abu Dhabi Bank, ADCB, Citibank and MUFG.
More than 200
entries spanning 30 countries were received for the prestigious Adam Smith
Awards, now in their 10th year and firmly established as the
ultimate industry benchmark for exceptional achievement in corporate treasury.
said this year proved particularly challenging
against a backdrop of a tough operating environment, as innovation and creativity
within treasury departments were key criteria for the winning entries.
Etihad Aviation Group Interim Group Chief Financial Officer, said: “These
awards are testament to the great work by the treasury team in finding
solutions to further strengthen the business in a challenging environment.
“Our treasury team has worked very hard over the
years to deliver a best
in class global treasury department, and the fact that we
were nominated by our key financial partners demonstrates their confidence in
The Best in Class Treasury in the
Middle East award was for a number of innovative practices, including
raising US$1.5billion through a debut Sukuk, the largest ever in Abu Dhabi, as
well as a Murabaha programme for US$145 million – the airline’s first Islamic
Best Trade/Supply Chain Finance Solution accolade acknowledged EAG’s agenda to centralise
treasury operations in the UAE by overhauling processes using technology and
reducing manual intervention with its growing supply chain network.
The Best Funding Solution award recognised Etihad’s
treasury team for leading a short-term, cost effective
bridging solution of US$230 million over a six-month period for two new A380s
in the wake of the suspension of European credit agency support for Airbus
Best Risk Management Solution award reflected the high level of investment in
technology aimed at reducing manual processing of all key treasury
Etihad Airways’ treasury team, hailing from a variety
of backgrounds and nationalities, leveraged off
each other’s skills to make a positive impact to the business. The team manages
and oversees cash and
liquidity, risk management and hedging funding, as well as relationships with banking partners, investors and rating agencies. The treasury team is also responsible for insurance, direct customer payments, as well
as group wide tax management.
Treasury Today is considered
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insightful reporting and indepth analysis of corporate financial practice.