Qatar Airways has appointed advisors with a view to an initial public offering later this year, according to its chief executive.

Akbar Al Baker has earlier indicated the flag-carrier was planning an IPO in early 2012 after three consecutive years of profit.

“It could be this year,” he told reporters earlier today.

“The more market share we gain, the timeline moves forward.”

He, however, declined to name the advisors.

The airline, half-owned by sovereign wealth fund Qatar Investment Authority, is close to finalising a 35 per cent stake in Europe’s largest all-freight airline Cargolux.

As part of a wider aviation expansion Qatar is building a new airport with the capacity to accommodate 50 million passengers per year.