Etihad Airways signs with IT2

15 July 2009

IT2 Treasury Solutions Limited announces that Abu Dhabi based Etihad Airways has selected the IT2 treasury management system to support its treasury operations.

Etihad’s IT2 implementation will provide an integrated solution that will address domestic and international cash management, long term finance (including leasing), trade finance, interest rate risk and FX risk management, treasury accounting and hedge accounting under IAS 39. IT2 will be integrated with bank reporting and payment systems, the FXall dealing portal, Reuters 3000 Extra (for FX & interest rates), and with Etihad’s ERP system, Oracle Financials.

According to Ricky Thirion, Etihad’s Vice President of Treasury: ‘Etihad Airways selected IT2 after a rigorous and competitive tendering and selection process. We judged that IT2 is best placed to deliver an integrated, best practice STP solution that will enable us to eliminate inefficient, error prone manual processes. The treasury team will be able to focus on their core professional tasks of managing liquidity and financial market risks in today’s most demanding financial environment.’

Kevin Grant, CEO of IT2 Treasury Solutions, adds: ‘I am delighted to add Etihad Airways to IT2’s growing list of blue chip clients in the Arabian Gulf region, where more and more treasuries are actively seeking enhanced cash and financial risk visibility.’

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