Abu Dhabi considers “Etihad Airways” IPO

ADQ, an investment arm of the Abu Dhabi government, is considering offering Etihad Airways for an IPO, as Bloomberg quoted officials as saying.

The wealth fund has held discussions with banks about a potential deal this year, the sources said, asking not to be identified because the information is not public.

The sources added that the sovereign fund is evaluating whether to pursue a traditional initial public offering in addition to a direct listing.

Etihad Airways is the national airline of the Emirates. It is owned by the ADQ Holding Company, wholly owned by the Abu Dhabi government. It started with a capital of half a billion dirhams. Its headquarters is located in the capital, Abu Dhabi, and it uses Abu Dhabi International Airport as its operations center. By the end of 2019, the number of the company’s aircraft reached 101 aircraft. It consists of 95 passenger aircraft and 6 cargo aircraft with an average age of 5.3 years, while the number of the company’s destinations reached 76 destinations. The company also increased the number of its regular flights to major destinations.