Antonoaldo Neves appointed CEO of Etihad Aviation Group

ADQ, an Abu Dhabi-based investment and holding company, and Etihad's board of directors 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," says a release from ADQ.

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, the release said. "Prior to TAP, Antonoaldo was the President of Azul Airlines in Brazil where he successfully led the company to IPO in the NYSE. Antonoaldo 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, Etihad Aviation Group, says: "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. 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 adds: "Etihad Airways is a global 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 macro-economic 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 has reported a record breaking first-half operating profit of $296 million, the release said.

Etihad Aviation Group transferred to ADQ
The Supreme Council for Financial and Economic Affairs has transferred full ownership of Etihad Aviation Group to ADQ.

"The transfer of Etihad complements ADQ's efforts to realise Abu Dhabi's vision to strengthen the emirate's position as a global aviation hub delivering integrated and competitive aviation services," says a release from ADQ.

Earlier this year, Etihad's ancillary businesses were transitioned into ADQ to create a new integrated aviation support services company.