Abu Dhabi's Supreme Council for Financial and Economic Affairs has transferred full ownership of Etihad Aviation Group (EAG) to ADQ, an Abu Dhabi based investment and holding company.
The transfer of EAG complements ADQ’s efforts to transform Abu Dhabi into a global aviation hub.
Its aviation strategy is focused on delivering airlines and passengers a globally competitive value proposition specializing in aircraft engineering, cargo and ground handling services and an unrivaled customer experience through the anticipated opening of Abu Dhabi Airports’ new Midfield Terminal.
"With Etihad joining ADQ’s mobility and logistics cluster, we are well positioned to develop a globally competitive and integrated aviation portfolio to enhance Abu Dhabi’s connectivity and overall value proposition," said Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ.
Earlier this year, EAG’s ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company, ushering in a new wave of growth for the sector.
With the addition of EAG, ADQ’s aviation portfolio includes major enterprises which support Abu Dhabi’s vision to create an integrated aviation hub, which include Abu Dhabi Airports, Wizz Air Abu Dhabi and ADQ Aviation & Aerospace Services Company.
Abu Dhabi Supreme Council for Financial and Economic Affairs issues a decision to transfer ownership of Etihad Aviation Group to ADQ, strengthening ADQ’s competitive and integrated aviation portfolio. pic.twitter.com/JZ54l15Cj8
— مكتب أبوظبي الإعلامي (@ADMediaOffice) October 18, 2022
Russian gas flows to EU down 3% from normal levels
OPEC Fund signs loan to boost agriculture in Africa
UAE gains observer status in Eurasian Group to combat money laundering
WTO chief Okonjo-Iweala reinstated for second term as trade wars loom
Ukraine imposes first wartime tax hikes
