Etihad Airways Group CEO, Antonoaldo Neves, said on Tuesday that the Emirati airline has no timeline for an initial public offering (IPO) as it possesses sufficient resources to finance its $20 billion growth plans over the next decade.

Neves added in an interview with Reuters that the holding company ADQ, the main shareholder in Etihad Airways, holds the final decision on any IPO, but he clarified that the airline is prepared for any public offering.

He told Reuters, “Any decision regarding the IPO is a broader shareholder decision, not a specific decision related to Etihad… The time has not yet come.”

Etihad Airways began operations in 2003 in Abu Dhabi, and ADQ acquired it in October 2022.

Neves said the company focuses on organic growth as mergers and acquisitions are not part of its strategic mission.

Etihad plans to enhance Abu Dhabi’s role as a travel hub connecting Asia and Europe. Neves said the company does not need to go public to finance its growth plans, which are estimated to require more than $20 billion over the next ten years.

He explained, “We believe we can finance this internally.”