In 2016, Etihad Aviation Group (Etihad) was awarded the coveted Treasury of the Year in TMI’s Corporate Recognition Awards, with particular reference to initiatives in banking and cash management, technology and collateralised loan obligation (CLO). In this feature, Adam Boukadida, Acting Group Treasurer of Etihad Aviation Group, describes the project and its outcomes in more detail.
At 13 years old, Etihad Airways is still young in corporate terms, and treasury was only established a decade ago, as a key strategic corporate function. Asa young business with an historic average annual growth rate of above 20%, establishing a formal or structured approach to banking and cash management had not been a priority in the past. As we expanded our geographical reach and complexity over the years, we built up over 100 bank relationships, with too many accounts, and disparate commercial terms and service levels.