Qatar Airways looks to profits in 5 years
Qatar Airways, Qatar's national carrier, expects to make profits from its core airline operations within the next five years, according to its chief executive officer Akbar al-Baker.The airline was re-launched six years ago. It takes an airline at least 10 to 12 years to establish itself and expand, he said. Although still a loss-making airline from its core airline operations, it is a highly profitable firm vis-à-vis its subsidiary companies, said a Gulf Times report quoting the CEO. Qatar Aviation Services, Qatar Catering Company, Qatar Airways Holidays, Qatar Distribution, Qatar Airways Cargo and Qatar Duty Free are among the subsidiary companies of Qatar Airways, added the report. Currently the airline is investing heavily in equipment, aircraft and personnel. It is, therefore, near impossible to make healthy profits, Al Baker was quoted as saying. The Qatar Airways five-year plan says the airline expects to be profitable at the end of this period when it would have stopped expanding and begun the process of consolidating the expansion. Qatar Airways, had only 18 aircraft a year ago. It now has an aggressive fleet development programme. By the end of this year, it is expected to have 28 aircraft. The number is expected to grow to 35 by the next year, said the report. Qatar Airways recently announced the delivery of a new A330-200 and A320-200. It will shortly take delivery of a long-range A319 corporate jetliner. It is also one of the launch customers for the A380 'super jumbo' scheduled for delivery in 2007.