Etihad Airways has signed an agreement with global banker Citi to help it speed up payments to its suppliers and improve access to finance.
The supply chain finance programme will allow the Abu Dhabi-based airline to unlock liquidity and pay its suppliers almost immediately through funding provided by Citi.
The finance programme can also be customised to the airline's suppliers across the globe, and will create access to liquidity across businesses of all sizes. The first phase of the scheme will cover a select number of key suppliers, while the second phase will see it rolled out to remaining vendors.
James Rigney, chief financial officer at Etihad Airways, said the scheme would improve access to finance for suppliers and encourage their development in the region.
"Our suppliers are an essential part of the success of our business and we are happy to provide the tools that offer new credit and liquidity sources and accelerate their access to cash flow,” he said.