20-Dec-2010 11:46 AM

Qatar Airways to launch IPO in early 2012

Qatar Airways CEO Akbar al-Baker stated he is "pretty confident" the carrier will launch an IPO in early 2012 after achieving three consecutive years of profitability (Gulf Times/Reuters/AFP/The National, 19-Dec-2010). No further details were provided. The CEO added that the carrier was profitable last year and is on track for a net profit in the current year although no specific details were disclosed. Mr al-Baker added that Qatar Airways will focus its growth strategy during the coming four months on adding four new destinations in Europe.

Qatar Airways: "We have always said we will go in for an IPO once we register three consecutive years of profit. In the last financial year, we realised a net profit; this year also we are heading towards a net profit. We are hopeful of deriving a net profit in the next financial year as well. I can tell you we have made good net profit in the last financial year, though we will disclose the exact figure only when we get listed," Akbar al-Baker, CEO. Source: Gulf Times, 19-Dec-2010.