At the renowned 2022 Airline Economics Middle East, Africa & Islamic Aviation 100 Awards, Etihad Airways won the top prize.
Chief Financial Officer Adam Boukadida was awarded Middle East & Africa CFO of the Year for the second year in a row.
The Airline Economics awards, now in their eleventh year, are held yearly to recognise exemplary businesses, individuals, and financial transactions in the commercial aviation sector.
Mr. Boukadida stated, “We’re incredibly proud to be named Airline of the Year by Airline Economics, which comes just before our 19th birthday at Etihad Airways. This award goes to our entire organisation and stands as a testament to the success of our transformation, in which every member of the Etihad family played an important role. This is a great way to celebrate our fantastic performance over the first nine months of 2022.”
Etihad was recognised by Airline Economics for its excellent turnaround, which resulted in a record-breaking core operating profit of US$ 296 million for the first half of 2022 and an EBITDA increase of more than US$ 600 million to US$ 691 million for the same time. For the Airline of the Year award, the judges also assessed the profit, debt, load data, RPK, orders, and routes.
The CFO of the Year award criteria included financing deals over a 12-month period, consistency of performance and the deals book for Etihad Airways, as well as input from important regional and global counterparties and strategic partners on the company and finance department.
In October 2021, Etihad Airways secured the first sustainability-linked loan aligned to environmental, social, and governance (ESG) targets in global aviation, a US$ 1.2 billion loan.
The airline has received multiple accolades for this deal, including:
- Environmental Finance Airline Economics Aviation 100 Deals of the Year Awards 2022: Overall Deal of the Year
- ESG Loan Deal of the Year Middle East Awards 2022 for Bonds, Loans, and Sukuk
- Treasury Project of the Year – Sustainability Initiative at the Middle East Treasury Awards 2022 presented by the Association of Corporate Treasurers.
