PH: Tony, you're predominantly a hub carrier, I presume that's still the case. In particular, is you find it's one part of the world that will do it and many other parts don't. Theres still some way to go but the progress made in 2019, and cumulatively since 2017, has instilled in us a renewed vigor and determination to push ahead and implement the changes needed to continue this positive trajectory., Mikael Houari, President of Airbus Africa Middle East, and Tony Douglas at the 2021 Dubai Airshow. PIF is reportedly investing $30 billion in the new airline, which is expected to launch modestly with a narrowbody fleet and regional operations. PH: Right, and on the demand side, Tony, it's obviously very early days and it's very dependent on markets, but we're going into the business season, as leisure and holidays are over pretty much in the northern hemisphere anyway, are you getting any inklings of what the corporate demand might be like? 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 programme, Mohammed Ali Al Shorafa, chairman of Etihad Aviation Group, said. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Instagram, Facebook, Twitter and much more. TD: Yeah, I think, revenue management used to be a heavy degree of science and a sprinkle of art. With a core operating profit of $296 milliondespite an almost 60% increase in fuel costs, in comparison to the same period last year," Douglas says, attributing the "incredible achievement," to the hard work and commitment of the "Etihad family.". I think there's probably an important balance here to look at the carrot side of it. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. Particularly if we go back to where this one started, if you look at SAF, two and a half times and more, the cost of A1 jet fuel. Keep abreast of significant corporate, financial and political developments around the world. organisation Saudi Arabias wealth fund has named former Etihad Aviation Group boss Tony Douglas chief executive officer of a new national airline, as the country looks to boost tourism and diversify the economy from oil. Weve got about 10 seconds left though, in one word, given that background, are you anticipating there will be taxes fairly widespread? He left in 2015 to take on the role with the British government and will return to Abu Dhabi with the opening of that terminal now delayed until 2019. I think what that probably signals to everybody is the absolute latent demand. Douglas' decision to quit the ministry, two years after being appointed by then Prime Minister David Cameron to overhaul the running of Europe's largest defense procurement budget, was unexpected. Under his leadership, the carrier has pushed hard to get sustainability at the core of everything it does to reduce its footprint, be it reducing plastic waste and carbon emissions. Problems with its investments in troubled European airlines and provisions on aircraft plunged the airline into a $1.9 billion loss last year, its first since 2010. Dallas/Fort Worth and Ho Chi Minh City to boost growth, the airline carried 17.8 million passengers in 2018. . The Etihad Airways group chief executive was a little over two years into a major . That probably leads us into why we thought Etihad Wellness was so important when we originally introduced it in the middle of last year. articles a month for anyone to read, even non-subscribers. The announcement on October 19 that Tony Douglas will step down as CEO ofEtihad Airways and take on a consultancy role instead, is the strongest indication yet that Douglas will exit the Abu Dhabi carrier for good soon. He serves as the CEO of Riyadh Air, a Saudi Public Investment Fund subsidiary. Simply log into Settings & Account and select "Cancel" on the right-hand side. Neves was announced as group CEO while Douglas will serve during his transition period as an advisor to the board of ADQ Aviation and Aerospace Services Company. All rights reserved. Economics Letter; Current Research Tony Douglas, who has also run Abu Dhabi and London Heathrow Airports, will join Etihad as group chief executive in January from Britain's Ministry of Defence, the airline said in a statement on Thursday. Ray Gammell, who has served as interim group CEO since May will return to his position as Group Chief People & Performance Officer, Etihad said. He will replace long-time CEO, James Hogan. He previously served as the CEO of Etihad Airways from January 2018 to October 2022. Im excited to embark on this new role and build on the solid foundation left by Tony and the management team. Tony Douglas, Etihad's chief executive told The National earlier this year. In 2022, he has gone full-time freelance. According to Etihad Airways CEO Tony Douglas, the Airbus A380 may return to the sky if the global pandemic travel recovers rapidly and exceeds pre-pandemic levels. Because without this, I think there's no one part of the manufacturers, the commercial airlines themselves, and many other parts of the industry that support this, can find a single solution. We wouldn't hear it, because of course people used to cough before COVID all the time. Of course here in Abu Dhabi, we have like many countries, a green, an amber and a red list, and we've started to see the green list now steadily increase. Copyright 2023. We've been working with Boeing, with GE, with Safran, even NASA. As Simple Flying reported in September, Tony Douglas left Etihad to lead Saudi Arabian startup RIA, which holds ambitious plans to rival the big three in the Middle East - Emirates, Etihad Airways, and Qatar Airways. I think this plays well to the way in which international tourism will be able to come back with confidence. Now, under that umbrella, and really the Greenliner is more of a persona, because we're using it as a call out to SMEs, to universities, quite frankly, to anybody out there who's got a genius idea, to be able to bring it into an environment where it can be put to test. "we were the first airline in the world to be fully vaccinated. Now, in terms of the HOPE side of it, I think, back to network planning, something everybody in aviation realises is at the absolute heart of how we think through our operation. It's not all about big initiatives, it's how one collects all of the small ones to help contribute as well. Douglas, under whose tenure Etihad trimmed its ambitions and started reorganising as a mid-sized carrier focused on point-to-point traffic, said he was proud to have served as chief executive. Etihad entered 2022 with a record breaking first-half operating profit of $296 million. We support credit card, debit card and PayPal payments. Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group. What we've put together is a series of programmes. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Neves will replace Tony Douglas, who has decided to pursue an opportunity elsewhere . Etihad further improved its results and reduces its loss to $-0.87 billion in 2019. Tony Douglas, Group Chief Executive Officer, Etihad Aviation Group, said: "As we say goodbye to 2020, I wanted to start the new year by demonstrating my own . You might go through a non-segregated airport environment, and you may be in a very packed hotel where there is no differentiation between those people who are vaccinated and those people who are not. ($1 = 0.7445 pounds). Neves said in the statement he was excited for his role at Etihad, "a global well-known brand in the industry," and said he was confident it would continue "its journey of sustainable growth.". PH: It's interesting that correlation between health and actually buying up into business class, just to get some space. Billions of RIyals, really? His primary source of income is from his working career as a Business executive. Tourism revenue is paramount for the government to reduce the current account deficit to tackle high inflation and interest rates, Daily Sabah newspaper said. DUBAI, Oct 19 (Reuters) - Abu Dhabi state carrier Etihad's parent company has appointed Antonoaldo Neves as its new chief executive officer, replacing Tony Douglas, after the emirate's government transferred Etihad's ownership to wealth fund ADQ, ADQ said on Wednesday. Etihad Airways net worth 103 Million Millions of dollars 99% Net worth score Disclamer: Etihad Airways net worth displayed here are calculated based on a combination social factors. personalising content and ads, providing social media features and to All Rights Reserved. . Aviation is responsible for around 2.5 percent of global carbon dioxide emissions. ", - Cargo: "If it hadn't had been for the significant increase in cargo, there's no way we would have maintained the same network and frequencies that we have been doing", - Revenue management: "Revenue management used to be a heavy degree of science and a sprinkle of art. We have dedicated Wellness ambassadors on board and we of course, like many other airlines sanitise to almost surgical operating standards. We're working with the producers, with the scientists that sit behind alternative aviation fuels both on SAF's as we see it today with the efuel, the hydrogen component solutions and we're using both the Greenliner and working again with Boeing on other projects to see how we can continue to experiment with those kind of options. Some of the demonstration flights we've been able to take at least 40 minutes out of the flight time and reduce the CO2 content by around six tonnes. Skip to content Skip to Search. He also previously served as chief executive of Abu Dhabi Airports Company (2013-2015), and as chief executive of Defence Equipment and Support department in the United Kingdom's Ministry of . Under his leadership, the carrier has pushed hard to get sustainability at the core of everything it does to reduce its footprint, be it reducing plastic waste and carbon emissions. As we are entering our next phase of sustainable growth, we are confident that Antonoaldo will build on Tonys legacy. Unfortunately we do have to conclude too, but Tony, thanks very much for being with us today. Douglas, Etihad's CEO since 2018, who ADQ said has decided to pursue another unspecified opportunity, will serve as an adviser to the board of ADQ Aviation and Aerospace Services Company, ADQ said in a statement. We were the first airline in the world to have a 100% vaccinated cabin crew and flight crew. The imminent departure of Douglas from Etihad comes at a logical moment. It's still very difficult. Douglas replaces veteran Australian CEO James Hogan, who developed Etihad into an aggressive rival to Dubai's Emirates and Qatar Airways over a 10-year period. "we were the first airline in the world to be fully . I am confident that Etihad will prosper into new heights and continue its journey of sustainable growth.. You seem to have JavaScript disabled in your browser. The Arab worlds largest economy will see the completion of 315,000 hotel keys by 2030, the consultancy said. In 2014, Etihad bought 49 percent ofAlitalia for $1.92 billion, but as losses continued, Hogan said in 2017 he had enough. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. Darryl Hinton His departure leaves a void just as Britain plunges into a war of words with one of its biggest defense equipment suppliers, Boeing, over a trade row that could affect aerospace jobs in Northern Ireland. tony douglas etihad net worth June 16, 2022 . Net zero must be 'at the very top of the agenda,' says Tony Douglas; Etihad is first airline to join Cambridge's Aviation Impact Accelerator; We were the first airline in the world to have a 100% vaccinated cabin crew and flight crew. That said, given the fact that I'd like to think that Etihad's a very agile business and we were already well on the way through our transformation journey, what we've tried to do is capitalise on the old clich of never waste a good crisis. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. To put it into context, we've already had over 3,000 members of the Etihad family on their third booster. Or I'll confess, I'll probably die of a heart attack before we get to JFK, simply because of the anxiety that will probably place me under, the stress that will come from it. Saudi Arabia's Public Investment Fund (PIF . For example, today you can go on to Etihad.com and if you want to book a charter, or request a 24 hour response, as a formal quotation for a charter, you can go online, book in your point of origin, your point of destination, the number of people that leave with you, and we'll give you a quote. Hogan's departure was announced in January. Etihad was the first airline and is still the only airline that has 100% PCR or positive testing in place at the point of origin and arrival here in Abu Dhabi. Etihad has already said it would no longer financially support Air Berlin and Italy's Alitalia, two of its prized investments. We will co-operate with them, we will support them, because we feel that relationships matter and there is a lot of business to go around [], Lebanon is not relying on International Monetary Fund cash to stay afloat, a government minister has told AGBI, as the tourism sector alone contributed $9 billion in revenue last year. I actually think that's a good thing, not just for us as a leaner, more agile organisation, but again, for the travelling community, our guests.. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Your email address will not be published. Tony Douglas's salary per month with other career earnings is over $1 million dollars annually. The definition of business class, as we're all very familiar with it in the aviation business, is whilst there's not as many business people travelling with Etihad at the moment, or anybody else for that matter, what we've seen is a significant trade off of the percentage of tickets sold into business class. Wanna follow Etihad Airways's net worth? Premium access for businesses and educational institutions. Some of that's around the use of smarter technology, so machine learning, artificial intelligence. It began in 2018 as a holding company for government assets and has been consolidating its portfolio, privatising some assets and making strategic acquisitions to build "national champions". Some of the key highlights can be found below.Among other issues, Mr Douglas talked of the importance o: - "Etihad Wellness" in attracting business class sales.