Eti­had air­ways hon­ored with 3 trea­sury awards

Kuwait Times - - BUSINESS -

Eti­had Air­ways’ trea­sury team has once again been ac­knowl­edged for air­line trea­sury man­age­ment ex­cel­lence with three key ac­co­lades at the 2016 Mid­dle East, African& Is­lamic Finance Avi­a­tion 100 Awards pre­sented by Air­line Eco­nom­ics in Dubai this week. Fol­low­ing a string of suc­cesses in re­cent months with lead­ing awards from var­i­ous or­ga­ni­za­tions in Lon­don, Mi­ami and Dubai, Eti­had Air­ways won fur­ther hon­ors with:

The Mid­dle East & Africa Over­all Deal of the Year for Eti­had Air­ways Part­ners’ (EAP) bond trans­ac­tions to­tallingUS$1.2 bil­lion

The Mid­dle East & Africa Trea­sury Team of the Year

The Mid­dle East & Africa Trea­surer of the Year awarded to Group Trea­surer Ricky Thirion

A US$700m five-year land­mark finance trans­ac­tion com­pleted by EAP in Novem­ber 2015 was fol­lowed by a fur­ther US$500m is­suance in April 2016. The funds were raised to sup­port the re­quire­ments of Eti­had Air­ways, its sub­sidiary Eti­had Air­port Ser­vices, and five of the car­rier’s strate­gic air­line part­ners - air­ber­lin, Air Ser­bia, Air Sey­chelles, Al­i­talia and Jet Air­ways. The ground-break­ing fund­ing from in­sti­tu­tional in­vestors was the air­line in­dus­try’s first ever joint fi­nanc­ing in the debt cap­i­tal mar­kets.

Eti­had Air­ways’ multi-na­tional trea­sury team was able to de­liver th­ese sig­nif­i­cant re­sults by bring­ing to­gether a com­pre­hen­sive ar­ray of skill sets in­volv­ing cash and liq­uid­ity con­trol, risk man­age­ment and hedg­ing, fund­ing, and re­la­tion­ships with bank­ing part­ners, in­vestors and rat­ing agen­cies. The trea­sury team is also re­spon­si­ble for in­surance, di­rect cus­tomer pay­ments, as well as prop­erty and in­fra­struc­ture.

GGGRicky Thirion, who has led the trea­sury de­part­ment since join­ing the com­pany al­most 10 years ago, was hon­ored for his ster­ling work and lead­er­ship in build­ing a world class trea­sury or­gan­i­sa­tion. James Rigney, Eti­had Avi­a­tion Group Chief Fi­nan­cial Of­fi­cer, said: “Our trea­sury team un­der the lead­er­ship of Ricky has worked tire­lessly to de­liver a ro­bust global trea­sury man­age­ment ca­pa­bil­ity. Tremen­dous amount of time, ef­fort and re­source has been spent on cre­at­ing and de­vel­op­ing pro­cesses, and pre­par­ing trea­sury busi­ness plans to take the group to a new level.”

James Ho­gan, Eti­had Avi­a­tion Group Pres­i­dent and CEO, added: “Eti­had Air­ways is renowned for de­liv­er­ing ex­cel­lence and driv­ing in­no­va­tion across our busi­ness. Our unique bond trans­ac­tions con­tinue to be rec­og­nized by the in­ter­na­tional fi­nan­cial com­mu­nity that demon­strates our equity in­vest­ment strat­egy in air­lines is for­ward-think­ing and re­in­forces the level of mar­ket con­fi­dence in our busi­ness model.

“Credit to James Rigney and his trea­sury team led by Ricky Thirion for build­ing a strong trea­sury de­part­ment, and cre­at­ing the frame­work with our part­ners for com­plet­ing two suc­cess­ful bond trans­ac­tions, par­tic­u­larly in test­ing times dur­ing chal­leng­ing eco­nomic con­di­tions.”

Air­line Eco­nom­ics, part of the Avi­a­tion News sta­ble of avi­a­tion pub­li­ca­tions, is con­sid­ered among the lead­ing air­line in­dus­try ti­tles for in­sight­ful re­port­ing and anal­y­sis. The awards were pre­sented dur­ing Air­line Eco­nom­ics Growth Fron­tiers, Dubai’s pre­mier avi­a­tion finance event or­ga­nized by Air­line Eco­nom­ics for own­ers, in­vestors and op­er­a­tors of com­mer­cial air­craft across the avi­a­tion in­dus­try.

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