Etihad Airways partners with CITI

WTTEN- international cash management bank partner.

The new mandate, covering the airline’s worldwide operations outside the GCC, will enable the airline to leverage Citi’s substantial investment in financial technology to further develop its cash management operations and help reduce costs.

Etihad Airways will now be able to utilise Citi’s Liquidity Management solution to achieve substantial cash optimisation and competitive market rates through automated treasury tools, resulting in significant transaction cost savings.

James Rigney, Etihad Airways chief financial officer, said: “The agreement with Citi is designed to drive more cost benefits for our business on a global level. As Etihad Airways continues to grow, this partnership will help bring about greater economies of scale, increased operational efficiency, enhanced financial procedures and immediate solutions to local needs across our worldwide operations.”

The enhanced partnership comes a year after signing of an innovative Supply Chain Finance (SCF) agreement between Etihad Airways and Citi enabling the airline to unlock liquidity and pay its suppliers almost immediately through funding provided by the bank.