Abu Dhabi's Etihad Airways plans to make its stock market debut no sooner than 2025, two people familiar with the matter said, in potentially the first IPO...
DUBAI/LONDON - Abu Dhabi 's Etihad Airways plans to make its stock market debut no sooner than 2025, two people familiar with the matter said, in potentially the first IPO of a major Gulf airline as the UAE's capital ramps up effort to become a global travel hub.However, it wants to present investors with 2024 financial results that will show a strong performance, one of the people said. Geopolitical instability in the region has also weighed on timing, the second person said.
After a management shake-up and years of paring back operations, Etihad has expanded under new CEO Antonoaldo Neves. Abu Dhabi's Zayed International Airport opened a multibillion-dollar new terminal last year that tripled annual capacity to 45 million passengers. Etihad also faces delays in receiving new aircraft from planemakers Airbus and Boeing, which have forced some airlines to scale back growth plans.
The president of bigger rival Emirates said in 2021 the Dubai government was considering an IPO of the airline, and Flynas in Saudi Arabia is looking to list as soon as this year, Bloomberg reported. Flynas was not immediately available for comment.Spanish Prime Minister Pedro Sanchez's government will not take into account an anticipated parliamentary vote to recognise Venezuelan opposition candidate Edmundo Gonzalez as winner of a disputed presidential election, the premier said.
Abu Dhabi ADQ Qatar Airways Gulf Airline Stock Market Debut
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