20 October, 2022

Antonoaldo Neves named as new CEO of Etihad Aviation Group as ownership transfered to ADQ

The Supreme Council for Financial and Economic Affairs in Abu Dhabi has announced this week that it has transferred ownership of Etihad Aviation Group to the ADQ, the nation's sovereign wealth fund's holding company.  The transfer is part of a wider operation to develop Abu Dhabi as a major global aviation hub.

ADQ already holds stakes in Wizz Air's Abu Dhabi operation, ADQ Aviation, Abu Dhabi Aviation, and Abu Dhabi Airport.  'The transfer of EAG complements ADQ’s efforts to realise Abu Dhabi’s vision to strengthen the emirate’s position as a global aviation hub delivering integrated and competitive aviation services.' the council said in a statement. 

Earlier this year, EAG’s ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company, ushering in a new wave of growth for the sector. EAG will continue its aspiration to be a leading global airline that delivers a best-in-class customer experience, unrivalled services and care for its guests, as part of ADQ’s aviation portfolio.

Etihad’s Board of Directors, announce the appointment of Antonoaldo Neves as Group Chief Executive Officer of Etihad Aviation Group, succeeding Tony Douglas as Group CEO, who has decided to pursue an opportunity elsewhere, and will serve during his transition period as an advisor to the Board of ADQ Aviation and Aerospace Services Company.

Antonoaldo Neves was CEO and Board Member of TAP, the National Airline of Portugal, where he successfully led a major turnaround that resulted in a more valuable company, with better customer service and more passengers, significantly contributing to tourism development in Portugal. Prior to TAP, Antonoaldo was the President of Azul Airlines in Brazil, where he successfully led the company to IPO in the NYSE. Antonoaldo was also a partner at McKinsey and Company, where he developed the long-term plan for the aviation sector development in Brazil.

His Excellency Mohammed Ali Al Shorafa, Chairman of Etihad Aviation Group, said: “Tony has led Etihad through some of its most challenging times and has successfully turned the airline into a profitable and sustainable business over the past five years as part of its initial transformation program. As we’re entering our next phase of sustainable growth, we are confident that Antonoaldo will build on Tony’s legacy. We thank Tony for all the hard work he has delivered. Etihad will continue to serve Abu Dhabi as the national airline of the UAE, delivering world class services and exceeding global benchmarks in the near future.”