ABU DHABI: ADQ, an Abu Dhabi-based investment and holding company, together with Etihad’s Board of Directors, has appointed Antonoaldo Neves as Group Chief Executive Officer of Etihad Aviation Group, succeeding Tony Douglas as Group CEO.
Douglas has decided to pursue an opportunity elsewhere and will serve during his transition period as an advisor to the Board of ADQ Aviation and Aerospace Services Company, said a statement.
Neves was CEO and Board Member of TAP, the National Airline of Portugal, where he successfully led a major turnaround that resulted in a more valuable company, with better customer service and more passengers, significantly contributing to tourism development in Portugal, it said.
Prior to TAP, he was the President of Azul Airlines in Brazil, where he successfully led the company to IPO in the NYSE. Neves was also a partner at McKinsey and Company, where he developed the long-term plan for the aviation sector development in Brazil.
Mohammed Ali Al Shorafa, Chairman of Etihad Aviation Group, said: “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 program. As we’re entering our next phase of sustainable growth, we are confident that Antonoaldo will build on Tony’s legacy. We thank Tony for all the hard work he has delivered.
“Etihad will continue to serve Abu Dhabi as the national airline of the UAE, delivering world-class services and exceeding global benchmarks in the near future.”
Neves commented: “Etihad Airways is a globally well-known brand in the industry. I’m excited to embark on this new role and build on the solid foundation left by Tony and the management team. I am confident that Etihad will prosper into new heights and continue its journey of sustainable growth.”
Douglas added: “I am proud to have served as Etihad’s chief executive officer over the past five years. The unprecedented challenges stemming from macroeconomic conditions faced by the industry were successfully navigated through prudent measures undertaken to position Etihad on a sustainable path for the future. I am appreciative of all the support provided by my Etihad colleagues and looking forward to further supporting the evolution of the wider Abu Dhabi aviation ecosystem.”
Etihad entered 2022 with a record-breaking first-half operating profit of $296 million. These earnings are a testament of the restructuring program to reduce costs and preserve cashflow during the pandemic and on increased passenger travel demand, said the statement.
Douglas has served as Group CEO at Etihad Aviation Group since January 2018. Throughout his tenure he spearheaded and led the airline’s ambitious turnaround, as part of its initial transformation plan, by optimizing costs, streamlining processes and its travel network, and successfully positioning Etihad for its next phase of sustainable growth, it added.
“Etihad Airways extends their appreciation to Tony Douglas, for the fundamental role he played in reinforcing Abu Dhabi’s position as a leading aviation hub for the UAE,” it said.
