Etihad Airways Enlists Additional Banks Ahead of IPO

Abu Dhabi-based long-haul operator Etihad Airways is ramping up preparations for a potential initial public offering (IPO) set to raise around $1 billion, Bloomberg reported, citing anonymous sources familiar with the matter.

The airline has expanded its list of financial partners, selecting BNP Paribas and Morgan Stanley as joint bookrunners for the anticipated share offering. The IPO is slated for the end of this year.

Previously, in March, Citigroup, HSBC Holdings, and First Abu Dhabi Bank were appointed as lead advisers for the IPO.

This move comes after Abu Dhabi's wealth fund, ADQ, assumed full ownership of Etihad Aviation Group in 2022.