Etihad raises funds for eco residence

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Abu Dhabi, Aviation, Business, Etihad Airways, News, Sustainability, UAE, UN Sustainable Development Goals

Andy Cairns of First Abu Dhabi Bank, Khaled Khalfan Al Suwaidi of Abu Dhabi Global Market and Adam Boukadida of Etihad Aviation Group at the signing ceremony.

Etihad Airways has raised 100 million euros to support the expansion of its eco residence in Abu Dhabi, a sustainable residential complex for the airline’s cabin crew.

In doing so, the national carrier of the United Arab Emirates has become the first airline to secure funding for a project based on the UN’s Sustainable Development Goals, the company said Sunday.

First Abu Dhabi Bank and Abu Dhabi Global Market will finance the project.

“We are proud to be the first airline globally, and one of the first companies in the UAE, to obtain commercial funding based on our commitment to the Sustainable Development Goals of the United Nations,” said Adam Boukadida, senior vice-president, treasury, tax and finance at Etihad Aviation Group.

He said the process to secure the loan hinged on a detailed international verification of the airline’s sustainability credentials.

“This assessment will enable us to fund long-term leases of the new eco residence complex, located in Abu Dhabi’s Masdar City innovation precinct, and will serve as the foundation for Etihad to fund future sustainable initiatives.”

Financing for these type projects must be linked to one or more of the goals, and the Etihad project met two, the company said.

To support the financing, Etihad established a framework.

The airline then engaged Sustainalytics to review the framework, and confirm alignment with the Sustainability Bond Principles of the International Capital Markets Association.

The company issued a Second Party Opinion verifying Etihad’s sustainability credentials, a key condition to raising capital, Etihad said.

Images are courtesy of Etihad.

 

Emirates hits back in Open Skies battle

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Dubai’s Emirates airline has released a 400-page rebuttal to claims by three major U.S. airlines that it is enjoying an unfair advantage through state subsidies.

In a white paper issued in January, U.S. legacy airlines Delta, United and American had accused Emirates of receiving more than $6 billion in subsidies from the Dubai government.

On Tuesday, Emirates hit back.

“Their argument is nothing more than a mess of legal distortions and factual errors,” the U.A.E. national carrier said in the document posted on its website.

“What the legacy carriers want is protection from competition. Such protection would do irreparable harm to U.S. cities and airports, America’s world-leading aerospace industry, U.S. exports and jobs, U.S. air cargo carriers, and most of all, U.S. consumers, including passengers and shippers,” the document said.

“It would also undermine America’s leadership in international aviation — leadership that has made Open Skies the global template for air services.”

The document was also presented to U.S. officials in Washington by Emirates president Sir Tim Clark.

“The legacy carriers have received more than $100 billion in government support since 2002,” Clark told reporters after his meeting.

“In sum, there is no factual or legal justification for U.S. unilateral action against Emirates,” the document said.

“Such a step by the United States would seriously disadvantage other U.S. stakeholders, sound the death knell for Open Skies, and send a very negative signal about the value of U.S. trade, diplomatic, and security commitments,” the airline warned.

“For these reasons, the legacy carriers’ demands for protection should be firmly rejected.”

Images are courtesy of Emirates.

Etihad’s ‘Facets of Abu Dhabi’ livery beautiful

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Less than a week after unveiling its first Airbus A380 in the beautiful “Facets of Abu Dhabi” livery, Etihad Airways has revealed its first Boeing 787-9 Dreamliner in the same colours.

The airline says the new livery is inspired by the culture, landscapes and the modern architecture of the UAE’s capital.

While the A380 rolled out of the Airbus paint hangar in Germany last week, the Dreamliner rolled out of its paint hangar in the United States on Sunday.

Etihad has ordered a total of 10 Superjumbos and the first A380 will operate on the Abu Dhabi-London route from December. Sydney and New York are other planned A380 routes.

Etihad, which has ordered 71 Dreamliners including 41 787-9s, will get its first aircraft later this year.

They will be introduced on six of the airline’s routes: Dusseldorf, Doha, Washington, Mumbai, Brisbane, Australia and Moscow.

The airline hopes to paint its entire fleet of more than 100 aircraft in the new livery over the next three years.

Images are courtesy of Airbus and Boeing

 

Abu Dhabi to produce aviation biofuel

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Abu Dhabi, Aircraft, Airlines, Aviation, Biofuel, Boeing, Business, Cities, Environment, Etihad Airways, Masdar City, News, Oil & Gas, Technology, Transport

 

An artist’s impression of Masdar City. Masdar City photo.

Abu Dhabi, one of the world’s largest oil producers, is also a leader in environmental initiatives.

Its most ambitious project is the solar-powered Masdar City, which is being built about 20 kilometres east of the United Arab Emirates capital.

One of the institutes behind the project, the Masdar Institute of Science and Technology, is now joining state-owned Etihad Airways, U.S. aircraft maker Boeing and French oil giant Total to produce aviation biofuel in the UAE.

Oil refiner Takreer will also be a partner in BIOjet Abu Dhabi.

“BIOjet Abu Dhabi will engage a broad range of stakeholders to develop a comprehensive framework for a UAE biofuel supply chain, including research and development and expanded investment in feedstock production and refining capability in the UAE and globally,” the companies said Sunday.

A day earlier, an Etihad Boeing 777 took off on a 45-minute demonstration flight, powered in part by biofuel produced in Abu Dhabi.

“Our goal is to support and help drive the commercialization of sustainable aviation fuel in Abu Dhabi, the region and also globally,” said James Hogan, president and CEO of Etihad.

The BIOjet Abu Dhabi initiative comes just days after Boeing said it was awaiting regulatory approvals to use green diesel on its airplanes.

“Boeing works with partners around the world to advance sustainable biofuel development and sees great opportunity for BIOjet Abu Dhabi to have a positive impact in the UAE and globally,” said Jeffrey Johnson, president, Boeing Middle East.