Etihad Airways has appointed National Bank of Abu Dhabi, NBAD, to establish an innovative and fully automated Supply Chain Finance programme, which will allow the national airline to extend a range of benefits to its strategic suppliers, while strengthening its supply chain.

Supply Chain Finance is a set of solutions that optimises cash flow by allowing companies to extend payment terms to their suppliers, while enabling suppliers – generally small and medium enterprises – to get paid earlier.

The invoices received by Etihad Airways’ suppliers will be electronically transmitted to NBAD for the bank to arrange the payment immediately.

James Rigney, Group Chief Financial Officer of Etihad Aviation Group, said, "Etihad Airways has always been at the frontline of driving efficiencies and creating an empowering environment for stakeholders. We are happy to be the first users of NBAD’s supply chain programme. As the airline continues to innovate and grow, this solution will help us support and drive liquidity throughout our supply chain. We are looking forward to pursuing our partnership with NBAD in order to serve the interests of our customers across the world."

Mark Yassin, NBAD’s Head of Global Banking, said, "This is a sophisticated value-added product that shows that NBAD is on the forefront of innovation in the region and able to bring global standard products to the market. Our product is customised for the commercial conditions in the Middle East. It will give clients support from a bank that has both local experience and the required depth of business in the region."

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