Qatar Airways to launch IPO in early 2012

Qatar Airways to launch IPO in early 2012

Qatar Airways to focus on its growth strategy in upcoming months

December 19, 2010 3:43 by Reuters

Qatar Airways is planning to launch an initial public offering (IPO) in early 2012 after three consecutive years of profit, it said on Sunday.

A spokeswoman for the national airline confirmed comments by its chief executive Akbar Al Baker on Saturday 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 three consecutive years of profit,” Baker was reported as saying by Qatari daily Gulf Times.

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

The spokeswoman declined to give further details.

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

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 (NDIA) would have an initial capacity to handle 28 million passengers annually when it opens in 2012. (Reporting by Jason Benham; Editing by Miral Fahmy)