Citi has renewed its cash management mandate with UAE flag carrier Etihad Airways, further assisting the airline with a major treasury transformation journey, helping to enhance its automation, digitalisation and overall efficiency.
Etihad will gain access to Citi’s breadth of digital capabilities across working capital and liquidity management, payments and collections, reconciliation and visibility, as well as working closely with Citi’s Innovation Lab to deploy a number of innovations in treasury management using AI-based and API technology.
Etihad Airways has implemented a number of new capabilities using robotic process automation, machine learning and AI through its internal digital innovation lab in 2021, saving 73,000 manhours as productivity benefits, which it will continue to build on through this partnership.
Etihad will also explore opportunities to further strengthen its global leadership in sustainable aviation finance through collaboration with Citi’s ESG team.
Adam Boukadida, Chief Financial Officer of Etihad Aviation Group, said: “Etihad is committed to driving innovation and developing global best practices, and our finance teams are always looking for opportunities to use new technologies to enhance 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 of Etihad Aviation Group, said: “This partnership with Citi marks the next stage in Etihad’s Treasury Transformation Roadmap. We believe that Citi is the right partner to support Etihad’s treasury team to achieve best in class treasury performance through the use of their industry-leading digital and multi-banking solutions.”
Elissar Farah Antonios, CEO of Citi UAE and MENA Cluster Head said: “We are delighted to continue to partner with Etihad on this transformation journey. We have a longstanding relationship with the airline, having been its cash management bank in more than 40 countries over the past 5+ years, and have watched it grow from strength to strength. We believe that they are in a good position to take this growth to the next level and we are thrilled to be able to assist with this.”