Qatar Airways ‘to launch IPO in 2012’

DOHA — Qatar’s fast growing national carrier Qatar Airways is set to launch an initial public offering (IPO) in early 2012 after achieving profitability, it said on Sunday.

By (AFP)

Published: Sun 19 Dec 2010, 4:32 PM

Last updated: Mon 6 Apr 2015, 10:09 AM

A spokesman for the carrier confirmed comments by Qatar Airways chief executive officer Akbar al-Baker on Sunday, in which he said he was “pretty confident” of launching the IPO in early 2012.

Qatar Airways had said before that it would offer shares to the public after achieving profitability in three consecutive years.

“We have always said we will go in for an IPO once we register three consecutive years of profit,” Baker said on Saturday.

“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,” he added.

He said the carrier has made a handsome net profit last year, but refrained from revealing how much.

“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,” he said.

Qatar Airways has a fleet of 92 aircraft, with orders for 80 Airbus A350s, 60 Boeing 787 Dreamliners, 29 Boeing 777s, eight Airbus A321s and five Airbus A380-800 superjumbos. These orders include options.

Baker said the new Doha International Airport, set to open in 2012, will have an initial capacity to handle 28 million passengers yearly.

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