Qatar Airways says 'wait and see' on Cargolux deal

CEO Akbar Al Baker says carrier might buy another airline but declines to confirm Cargolux plan
Qatar Airways says 'wait and see' on Cargolux deal
Qatar Airways_full
By Andy Sambidge
Tue 19 Apr 2011 09:40 PM

Qatar Airways may buy another
airline, CEO Akbar Al Baker said in Doha on Tuesday
without confirming plans to buy Cargolux Airlines International.

“Wait and see,” Al Baker said when asked about Cargolux purchase. “You will hear about it soon,” he added in comments published by newswire Bloomberg.

Cargolux, Europe's largest all-cargo airline, said on Monday it was in talks to sell a 35 percent stake to a strategic investor.

"Several parties are interested and discussions are ongoing for the time being," a spokeswoman said, adding that privately-owned Cargolux was seeking a long-term investor.

Earlier on Monday, German daily Die Welt reported Qatar Airways was in talks to buy a 33.7 percent stake in the Luxembourg-based company.

Seperately, Qatar Airways said it plans to sell
shares to the public in 2013 or 2014 and will list in Doha and in London
after the sale, Al Baker said.

The airline
expects “healthy” earnings in 2010-2011, he said, adding that revenue in
the first three months of the year was six percent less than expected due
to unrest in the Middle East.

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