Citi has renewed its cash management mandate with Etihad Airways, the flag carrier of the United Arab Emirates, further supporting the airline in a comprehensive finance transformation, helping to improve its automation, digitization and overall efficiency.
Etihad will have access to Citi’s breadth of digital capabilities across working capital and liquidity management, payments and collections, reconciliation and transparency, and will work closely with Citi’s Innovation Lab to deliver a range of innovations in treasury management using AI-based and use API technology.
Etihad Airways implemented a range of new features in 2021 using robotic process automation, machine learning and AI through its in-house digital innovation lab, saving 73,000 man-hours as a productivity benefit that the company will continue to build on through this partnership.
Etihad will also explore opportunities to further strengthen its global leadership in sustainable aviation finance by working with Citi’s ESG team.
Adam Boukadida, Etihad Aviation Group Chief Financial Officer: “Etihad is committed to driving innovation and developing global best practices, and our finance teams are always looking for ways to leverage new technologies to improve our operations. We look forward to working together and implementing more cutting-edge treasury solutions with Citi as our global partner.”
Daniel Tromans, Group Treasurer, Etihad Aviation Group: “This partnership with Citi marks the next stage in Etihad’s treasury transformation roadmap. We believe Citi is the right partner to help Etihad’s treasury team achieve best-in-class treasury performance through the deployment of their industry-leading digital and multi-banking solutions.”
Elissar Farah Antonios, CEO of Citi UAE and Head of the MENA Cluster, commented: “We are delighted to continue working with Etihad on this transformational journey. We have a long standing relationship with the airline, having been their cash management bank in 40+ countries for the last 5+ years and have watched them grow from strength to strength. We believe they are in a good position to take this growth to the next level and we look forward to being able to help.”
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