Etihad Airways (EY, Abu Dhabi International) has taken the first steps towards a possible stock-market listing following the creation of the Etihad Aviation Group, a public joint-stock company (PJSC).

According to a decree issued by the President of Abu Dhabi, Sheikh Khalifa bin Zayed Al Nahyan, last week, the Etihad Aviation Group is an independent corporate entity with full legal capacity to carry out its activities and achieve its goals, and that will be owned by the Government of the Emirate of Abu Dhabi.

Headed by Etihad Airways CEO, James Hogan, the Etihad Aviation Group structure marks the airline's transition from a single entity to a wider global aviation group by distinguishing it from its subsidiaries, joint venture companies and equity partners.

The Etihad Aviation Group will include Etihad Airways, Etihad Holidays, Etihad Crystal Cargo, the airline's associated brands and products, as well as the Hala Group, a new subsidiary that will handle the Group's travel and hospitality businesses.