Abu Dhabi and London – April 27, 2016 – OpenLink, the global leader in trading and risk management solutions to the energy, commodities, corporate, and financial services industries, today announces its selection by Etihad Airways for commodities, treasury and enterprise risk management.
Driving the deal was the airline’s move to consolidate its fuel risk management and treasury business into a single strategic platform. Managing these functions in one system instead of its previous two, provides senior managers with a consolidated view of operations, and treasury activities such as; dealing (management of interest, currency and commodity risks), risk management, cash liquidity and working capital management, back office operations, corporate finance and insurance.
Adam Boukadida, Etihad Airways Deputy Treasurer, said: “As we expand, aligning with a partner who has a proven track record of success is essential. OpenLink was the standout choice as a ‘one-stop’ solution to cater for and support the daily Treasury core functions in the most efficient manner, i.e. cash management or funding, in-house banking, trade capture and settlement of Foreign Exchange, Money Market, Loan, Lease, IRS and Fuel Hedging payments and Islamic equivalents.”
Claudio Capozzi, OpenLink Managing Director for EMEA, added: "Our comprehensive solution fully supports Etihad Airways’ growth goals. Working with an airline group of this calibre is a testament to OpenLink's ability to support global corporates where efficient systems and return on investment are paramount."
Amer Attar, Director of Business Development, Middle East and Africa at OpenLink commented: "Working with Etihad Airways is a sign of our commitment to the region. This commitment is supported by our expanding presence with a larger team and offices in Dubai, which allows us to develop closer partnerships and additional engagements in the region.”
Etihad Airways began operations in 2003, and in 2015 carried 17.4 million passengers. From its Abu Dhabi base, Etihad Airways flies to, or has announced plans to serve, 116 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and the Americas. The airline has a fleet of 120 Airbus and Boeing aircraft, with 204 aircraft on firm order, including 71 Boeing 787s, 25 Boeing 777Xs, 62 Airbus A350s and 10 Airbus A380s.
Etihad Airways holds equity investments in airberlin, Air Serbia, Air Seychelles, Alitalia, Jet Airways, Virgin Australia, and Swiss-based Darwin Airline, trading as Etihad Regional. Etihad Airways, along with airberlin, Air Serbia, Air Seychelles, Alitalia, Etihad Regional, Jet Airways and NIKI, also participate in Etihad Airways Partners, a brand that brings together partner airlines to offer customers more choice through improved networks and schedules and enhanced frequent flyer benefits. For more information, please visit: www.etihad.com