Etihad Airways signed Citi as its international cash management bank partner this week.
The Abu Dhabi-based airline will be able to obtain better control of its cash management operations, while reducing costs, through the automated treasury tools offered by Citi’s financial technology.
“We are delighted to have entered into this agreement with Citi, which is designed to drive more cost benefits for our business on a global level,” Eithad Airways Chief Financial Officer James Rigney said. “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 cash management deal follows a supply chain finance agreement signed between the two companies last year, in which Etihad Airways can use funding from Citi to quickly pay its suppliers.
“At Citi, we value our strategic alliance with Etihad Airways — which is one of the world’s fastest growing airlines — and we’re proud to provide global cash management services that meet the exact needs of the carrier,” Emre Karter, Citi’s regional head of treasury and trade solutions for MENA, Pakistan and Turkey, said.
