PO Box 35566, Head Office, Khalifa City A,
Abu Dhabi, United Arab Emirates
Etihad Airways' Vice President Treasury, Ricky Thirion, has been named GT News Magazine's 'Corporate Treasurer of the Year' at a gala dinner ceremony in Amsterdam. Ricky was honoured with the prestigious award for his role at Etihad Airways, in which he oversees the airline's treasury and financial market risk management, investment and financing activities.
The award is recognition of Etihad's successful financial strategy which was developed and embarked upon in early 2007. The strategy has seen Etihad consistently build its financing to become one of the most fiscally astute airlines in the region.
Against a backdrop of the credit crisis and subsequent global recession, Etihad has raised over unprecedented USD $3 billion in external finance over the past three years.
Etihad Airways' Chief Financial Officer, James Rigney, said: "Ricky is an outstanding Corporate Treasurer and this award is a reflection of his team's successful implementation of Etihad's financial and treasury strategy.
"Part of Etihad's financial strategy included diversification of financing options and the introduction of additional world-class commercial institutions into Etihad's financing structure. The Treasury team, under Ricky's stewardship, has created relationships with over 40 leading financial institutions from all around the world – including a number of new regions for Etihad: France, Germany Japan and China."
Over the past three years, Etihad's team has also embarked upon a major risk mitigation and cost control program with fuel hedging and foreign-exchange hedging protecting the airline from rising operating costs during the economic downturn.
"This award, achieved during one of the worst global economic crises in recent history, demonstrates the strength of our long-term financial strategy, our innovative approach to financing and the quality of Etihad's treasury professionals," Mr Rigney continued.
The Corporate Treasurer of the Year award is the latest in a number of awards for Etihad Airways' treasury and finance team including Global Trade Review 'Deals of the Year' in 2009; Air Finance Middle East Deal of the Year in 2007 and 2008; as well as the 2009 Treasury Team of the Year by the Association of Corporate Treasurers Middle East (ACTME).
Ricky Thirion joined Etihad Airways as Vice President Treasury in July, 2007. He is an active member of the Editorial Board of Journal of Corporate Treasury Management and a founding committee member of the Association of Corporate Treasurers – Middle East.