Etihad Aviation Group chief financial officer James Rigney will also leave the company later this year and the two will join an investment company.

A global search for a new group chief executive and a new group chief financial officer is underway.

During his 10-year tenure, Hogan has overseen the growth of the company from a 22-aircraft regional carrier into a 120-aircraft global airline and aviation group.

Mohamed Mubarak Fadhel Al Mazrouei, chairman of the board of the Etihad Aviation Group, said: “We are very grateful to James.

“Under his leadership, the company has provided new opportunities for thousands of Emiratis and has been a critical element in the remarkable progress of Abu Dhabi and the UAE.

“We look forward to James’ continued association with Abu Dhabi in new ways.

“To position the company for continued success in a challenging market, the board and management team will continue an ongoing, company-wide strategic review.

“We must ensure that the airline is the right size and the rightshape.

“We must continue to improve cost efficiency, productivity and revenue.

We must progress and adjust our airline equity partnerships even as we remain committed to the strategy.”

Last month, Etihad Airways unveiled plans to create a new European leisure airline group in a joint venture with Tui AG and Etihad is actively participating in the next phase of Alitalia’s restructuring plan.

Hogan said: “Along with the board and my 26,000 colleagues, I am very proud of what we have built together at Etihad and of the company’s substantial contribution to the UAE and to the development of Abu Dhabi.

“The last decade has seen incredible results but this only represents a first chapter in the story of Etihad.”