(Corrects March 7 story to take away descriptor of Rothschild & Co in paragraph 2)

(Reuters) -Abu Dhabi wealth fund ADQ has chosen advisers, together with HSBC Holdings (NYSE:), Citigroup and First Abu Dhabi Financial institution, for a possible preliminary public providing of Etihad Airways, Bloomberg Information reported on Thursday.

Rothschild & Co is performing as an unbiased monetary adviser to ADQ, which owns the United Arab Emirates’ nationwide provider, the report stated, citing folks accustomed to the matter.

The fund had beforehand been weighing a direct itemizing for Etihad as a substitute of a conventional IPO, the report stated.

Citigroup and Etihad declined to touch upon the Bloomberg report, whereas FAB, ADQ, HSBC, and Rothschild didn’t instantly reply to Reuters’ requests for remark.

Etihad CEO Antonoaldo Neves stated on Wednesday the airline has returned to revenue and was enhancing its transparency, governance and stability sheet to be prepared for an IPO ought to ADQ determine to listing it.

ADQ has listed a number of holdings since 2022 as a part of a broader technique to diversify the oil-rich emirate’s economic system, deepen capital markets and spur funding.