Abu Dhabi’s Etihad Airways aims to announce IPO this week

Abu Dhabi’s Etihad Airways aims to announce the launch of a $1 billion initial public offering this week, two sources told Reuters, in what would be the first IPO of a major Gulf airline in nearly two years.

The airline plans to offer 20% of the business by selling new shares to fund its growth ambitions, said the sources, declining to be named as the matter was not public.

Etihad profit more than triples to almost $500 million ahead of expected IPO

Etihad, which is owned by Abu Dhabi’s $225 billion wealth fund ADQ, did not immediately respond to a request for comment. ADQ declined to comment.