Abu Dhabi sovereign wealth fund ADQ gets full ownership of the Etihad Aviation Group

According to a statement released on Tuesday, the Supreme Council for Financial and Economic Affairs has given the Abu Dhabi sovereign wealth fund ADQ complete ownership of the Etihad Aviation Group.
The transfer of EAG adds to ADQ’s efforts to transform Abu Dhabi into a global aviation hub. “ADQ’s 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,” the fund said in a statement.
“The aviation sector is critical to Abu Dhabi’s economic growth plans and prosperity,” said Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ. “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.”
Earlier this year, EAG’s ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company. 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.
Etihad Airways, the national airline of the UAE, was formed in 2003 and quickly went on to become one of the world’s leading airlines. From its home in Abu Dhabi, Etihad flies to passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America. Together with Etihad’s codeshare partners, Etihad’s network offers access to hundreds of international destinations. In recent years, Etihad has received numerous awards for its superior service and products, cargo offering, loyalty programme and more.
Etihad was named the Airline Ratings Environmental Airline of the Year 2022. The airline based in Abu Dhabi has established itself as one of the major intercontinental carriers in the region by placing sizable orders for widebody aircraft. Its use of the Airbus A380 beginning in 2014 served to emphasise this. At the 2008 Farnborough Airshow, Etihad made aviation history by placing a record-breaking $43 billion order for aircraft. This included 100 firm orders, 55 options, and 50 buy rights, according to Wings Magazine, and included both Airbus and Boeing aircraft.