Qatar Airways to launch IPO in early 2012

Qatar Airways is preparing for an initial public offering (IPO) in early 2012 after achieving profitability.

The airline confirmed local reports quoting chief executive Akbar al-Baker saying he was “pretty confident” of launching the IPO in the timeframe.

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

“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 said the carrier has made a handsome net profit last year, but declined to reveal 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.

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

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

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