Speculation is growing over the timing of an initial public offering from Qatar Airways, with the airline’s chief executive suggesting it could be as soon as 2012.
In an interview with Qatari daily Gulf Times Akbar al-Baker said he was “pretty confident” of launching an IPO over the next two years.
Qatar Airways had said before 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,” al-Baker explained.
“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.
Akbar al-Baker is confident Qatar Airways can go public in 2012
al-Baker was, however, reticent to reveal more, stating only that Qatar Airways made a profit in 2009.
“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.
A spokesperson for the airline declined to give further details.
Qatar Airways will focus its growth strategy during the coming four months on adding four new destinations in Europe.
Rapidly expanding 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.
Chief executive al-Baker recently reiterated his faith in the Boeing 787 Dreamliner programme, stating there were no plans to amend the order despite continued delays with the programme.
World Travel Awards
Ahead of a potential IPO Qatar Airways has been recognised by the industry leading World Travel Awards as the Middle East’s Leading Airline Business Class for the second consecutive year.
Also in the Middle East today, World Mobi is celebrating the success of its new city guide to Doha.
World Mobi offers the most comprehensive mobile travel guides available, with over 800 cities in 200 countries listed. Each is developed by the World Mobi team to combine into a single global travel directory.
Doha.Mobi is the latest in this illustrious line up, offering click to call functionality – which means no scribbling down telephone numbers.
Most entries are also linked to websites where users can quickly access more detailed information if needed.
Other key features include information on accommodation, restaurants, attractions, entertainment, nightlife, shopping, and transport.
World.Mobi guides include user reviews and traveller utilities such as a translation guide, currency converter, news and local weather guide.