UAE – Mubasher: Abu Dhabi-based investment and holding firm ADQ is studying the initial public offering (IPO) of Etihad Airways to be the first publicly traded carrier in the GCC.

ADQ is in talks with banks to launch the IPO in 2024, according to Bloomberg.

The holding firm is considering either a conventional IPO or direct listing, an informed source said.

The timing and size of the offering are still under discussion.

It is worth noting that Etihad Airways shifted to profitability in 2023 after generating $5.5 billion in revenue.

In October 2022, the UAE’s Supreme Council for Financial and Economic Affairs transferred full ownership of Etihad Aviation Group (EAG), the parent of Etihad Airways, to ADQ.