Rasha Tabila (Abu Dhabi)
Adam Boukadida, Chief Financial Officer of Etihad Aviation Group, said: “Sustainability is at the heart of our work at Etihad Airways, and we are committed to the “Together towards a Better Environment” approach, which represents a clear statement that expresses our commitment to reduce our impact on the environment, by integrating sustainability in All our daily operations.
Etihad Airways recently announced the raising of $1.2 billion in its first sustainability-related loan related to environmental, social and corporate governance objectives in the global aviation sector. The deal is the largest sustainable financing deal in aviation history, and comes on the heels of two innovative aviation financing deals, The first sustainability-linked transitional sukuk in 2020, and the first in the aviation sector linked to the United Nations Sustainable Development Goals in 2019.
Boukadida added to Al-Ittihad, “Through this financing deal, we will work to strengthen all our operations to support the health of our planet and local communities, as our performance indicators will be linked to a number of initiatives and standards of environment, society, corporate governance and the promotion of women’s presence.”
Boukadida said, “We seek to have our goals have a real impact on the world, and to emphasize our accountability, we have committed to imposing penalties and incentives amounting to $5.5 million, linked to our progress against key performance indicators.”
He added: “Through our Greenliner programme, we are keen to achieve multiple sustainability initiatives in Etihad Airways to improve the environmental footprint of the aviation sector, and green finance plays an important and significant role in our strategy.”
On the conversion of a large part of the company’s fleet to sustainable aircraft, he stressed: “All of our 787 Dreamliner fleet represents a test platform for sustainability initiatives in the aviation sector, and we distinguish this fleet as the Etihad Greenliner fleet, which is the result of our global strategic partnership for the environment with leading airlines. Boeing and General Electric are part of the Greenliner Program.
Boukadida stressed: “We aim to challenge the norm and accepted practices and transform the aviation sector into a more sustainable sector.”
He said: “Etihad owns 39 Boeing 787 aircraft, which form the backbone of the company’s fleet, and it is one of the most fuel-efficient aircraft models.”
With regard to the impact of the sustainability program and the loan on achieving other financial goals of the company by saving expenses and achieving the desired profits.