UAE – Mubasher: The Supreme Council for Financial and Economic Affairs has transferred full ownership of Etihad Aviation Group (EAG), the parent of Etihad Airways, to the Abu Dhabi-based investment and holding firm ADQ.
The transaction comes in line with ADQ’s objective to transform Abu Dhabi into a global aviation hub, according to a press release.
ADQ is focused on delivering a developed customer experience by launching Abu Dhabi Airports’ new Midfield Terminal.
Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said: “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.”
Last week, ADQ submitted an offer to Abu Dhabi Aviation (ADA) to merge its full 100% shareholding of Etihad Engineering and AMMROC, in addition to its 50% ownership of GAL, into ADA.
Earlier in 2022, the ancillary businesses of Etihad Aviation were transferred into ADQ to set up a new integrated aviation support services firm that boosts the sector's growth.
