Etihad Airways to divest several entities to ADQ’s new company and to ADNEC
Abu Dhabi’s Etihad Airways and ADQ recently announced a proposed transaction that will support the ongoing transformation of Etihad Airways and the future growth of the civil aviation sector in Abu Dhabi.
As part of the proposed transaction, a number of Etihad’s businesses providing airline support services will become part of a new ADQ aviation company.
Once the transaction is complete, the airline support services businesses will benefit from being part of ADQ’s broad mobility and logistics portfolio, which includes Abu Dhabi Airports and AD Ports Group, a press communiqué stated. .
The businesses 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 businesses join Abu Dhabi National Exhibition Company (ADNEC). Etihad Airport Services Catering will combine with ADNEC’s catering business Capital Hospitality, and Etihad Holidays will join ADNEC’s tourism promotion business, Tourism 365.
“ADQ is primed to develop an integrated aviation platform that is driven by performance and a robust financial foundation through its new company. We see potential to capitalise on growth opportunities, attract a wider client base of airlines and drive the future expansion of Abu Dhabi’s aviation sector,” asserted Mohamed Hassan Alsuwaidi, CEO, ADQ.
“This agreement will allow us to place 100% of our focus on Etihad Airways to capitalise on recovering travel demand and will benefit our staff, the millions of guests who fly with Etihad Airways,” remarked Tony Douglas, Group CEO, Etihad Aviation Group.
“Our focus remains on achieving milestones and continuing to work to enhance competitiveness at the regional and international levels, as well as increase contributions to the economy of Abu Dhabi and support sustainable development,” commented Humaid Matar Al Dhaheri, Managing Director and Group CEO, ADNEC.