Sunday, December 19, 2010

Qatar Airways to commence IPO in early 2012

Qatar Airways is setting up to launch an initial public offering (IPO) in early 2012 after three successive 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 start the IPO then.

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

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

The spokeswoman refused to provide additional details.

Qatar Airways will focus its development 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 construction 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 yearly when it opens in 2012.

Visit Fitness Vacations | Vacation Directory - Limousines & Shuttle

No comments:

Post a Comment