Dubai: One of two flag carriers of the UAE, Etihad Airways has bagged top honors at the 2022 Airline Economics Middle East, Africa & Islamic Aviation 100 Awards.
The Airline won the much-admired Middle East & Africa Airline of the Year Award, with Chief Financial Officer Mr. Adam Boukadida receiving the Middle East & Africa CFO of the Year award for the 2nd consecutive year.
AIRLINE ECONOMICS
Currently into its 11th Year, the Airline Economics awards are held annually to celebrate exceptional businesses, individuals and financial transactions in the commercial aviation industry.
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 organization and stands as a testament to the success of our transformation, in which every member of the Etihad family played an important role.
Mr. Adam Boukadida remarked while sharing his delight on securing the honor.
REMARKABLE FINANCIAL PERFORMANCE
Etihad was recognized for its successful turnaround, which led to the airline posting a record-breaking core operating profit of $296 million for H1 2022, with EBITDA improving by more than $600 million to $691 million in the same period.
The judges also considered the profit, debt, load figures, RPK, orders and routes for the Airline of the Year award.
CFO OF THE YEAR
The CFO of the Year award criteria included financing deals over 12 months, consistency of performance and the deals book for Etihad Airways, as well as feedback on the company and finance function from key regional and global counterparties and strategic partners.
Earlier in October, Etihad Airways had raised a groundbreaking $1.2 billion loan, the 1st sustainability-linked loan tied to environmental, social and governance (ESG) targets in global aviation.