Qatar Airways a fully government owned entity now, says Al-Baker

May 6, 2014 11:28 am

m_Qatar Airways a fully government owned entity now, says Al-Baker

Dubai 06th May 2014: Qatar Airways became fully government owned in July 2013 after country’s sovereign fund bought a 50-percent stake from Qatar’s former prime minister and other shareholders, said Akbar Al-Baker, CEO of the airline.

He was speaking at a news conference in Dubai.

Half of the airline had previously been owned by Sheikh Hamad bin Jassim Al-Thani and some other shareholders. Sheikh Tamim bin Hamad al-Thani, who took over control from Sheikh Hamad in June 2013 has replaced some senior economic officials.

Qatar wanted ruling family members to have fewer direct stakes in local business interests, Reuters quoted a government source as saying.

“There are changes happening. Qatar wants to have a fair and competitive business environment for everyone,” according to the source.

Qatar Airways now plans to reveal its 2013 financial profits before Q3 of 2014, said al-Baker.

“We are a very profitable airline. We don’t announce the results because we were private and publicly held in the past. Now we will announce profits,” he said.

About the Author

Tamim Maha Ali is the Chief Editor of Qatar Chronicle. A shrewd strategist, he is an Economic Pundit, entrepreneur and Investment Banker

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