The FINANCIAL — Etihad Airways’ Treasury department has won three major awards in June – two in the United Arab Emirates at the Association of Corporate Treasurers Middle East (ACT ME) annual awards, and one in the United Kingdom at the Adam Smith awards.
The Abu Dhabi-based airline received the top ACT ME award for Large Enterprise Treasury Team of the year, gaining praise for the implementation of best practice operations, the scale, scope and depth of its activities, and the professional development of team members.
The second award was for Treasury Funding Deal of the year which was given for the recently implemented supply chain finance programme that Etihad launched at the end of 2014. Etihad was the first airline outside of the USA to launch a programme of this nature and one of the first organizations in the Middle East, according to Etihad Airways.
ACT ME is identified as the Middle East’s only professional body for treasury and both awards were voted for by other corporate entities and banks in the region.
The third title that the airline’s Treasury department received this month was at the Adam Smith Awards for Best Practice and Innovation in London, one of the leading UK treasury awards.
Etihad Airways gained the award for highly commended Best-in-Class Treasury Solution in the Middle East. The airline was credited for the geographic spread of its treasury activities, the depth of its operations in a complex and volatile marketplace, and the innovation of its finance operations, including the recently launched supply chain finance programme.
James Rigney, Etihad Airways’ Chief Finance Officer, said: “Etihad Airways is proud to have a reputation for operational and treasury excellence and we are delighted to receive these awards from our industry peers which recognise the work we do in corporate treasury, corporate and asset financing, group insurance and payment solutions.”
Etihad Airways continues to diversify its portfolio of global funding sources and last year expanded its range of borrowing relationships to over 75 lenders, investors and lessors. During 2014 Etihad Airways secured US$ 3.5 billion of debt funding in the financial markets.