Qatar Airways to Launch IPO in 2012

Reuters20.12.2010 Qatar
Qatar Airways to Launch IPO in 2012

Qatar Airways to Launch IPO in 2012

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Qatar Airways is planning to launch an initial public offering (IPO) in early 2012 after 3 consecutive years of profit.

A spokeswoman for the national airline confirmed earlier comments by its Chief Executive Akbar Al Baker that he was "pretty confident" it would launch the IPO then.

"We have always said we will go in for an IPO once we register 3 consecutive years of profit," Baker was reported as saying by Qatari daily Gulf Times.

"In the last financial year, we realized a net profit. This year we are also heading towards a profit. We are hopeful of deriving a net profit in the next financial year as well," he added.

Qatar Airways will focus its growth strategy during the coming 4 months on adding 4 new destinations in Europe, Baker said.

Qatar, the world's largest exporter of liquefied natural gas, is building a new airport with the capacity to accommodate 50 million passengers per year.

Baker said the new Doha International Airport would have an initial capacity to handle 28 million passengers annually when it opens in 2012.



Source: Reuters



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