Dubai-Mubasher: Etihad Airways announced an enhanced agreement with Citi as its international cash management bank partner, according to the airline’s statement on Wednesday.
The new deal will enable the airline to leverage Citi's big investments in financial technology to further develop its cash management operations and help reduce costs.
The agreement comes a year after the 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.
"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,” according to James Rigney, the airline’s Chief Financial Officer.
