Qatar Airways profit on track

Qatar Airways will launch seven new routes in 2007 and has revealed the airline will break even by 2011 at the latest.

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By  Gemma Greenwood Published  December 6, 2006

Qatar Airways will launch seven new routes in 2007 and has revealed the airline will break even by 2011 at the latest. “From then on we will be making a heavy profit,” Akbar Al Baker, the company’s CEO told media at last month’s World Travel Market in London. “The reason we are not profitable now is because of the huge investments we are making. We have to keep an eye on our costs, but we won’t cut costs in terms of cutting back on services.” He was speaking after announcing the Doha-based carrier would introduce flights to Lagos in Nigeria on January 3; Dar Es Salaam in Tanzania on January 9; Bali in Indonesia and Ho Chi Minh Cityin Vietnam in March; and New York from the summer. There are also plans to fly to a new point in Northern Europe and for the first time, in Eastern Europe, in the second half of 2007. Qatar Airways started operating in 1994, was relaunched in 1997, and today flies to 70 destinations across the globe. The airline recently took delivery of a new state-of-the-art long-range Airbus A340-600, which currently flies to London Heathrow, but will be appointed to the Doha-New York service when it commences. A new US $90 million premium class terminal dedicated to Qatar Airways’ first and premium class passengers has also opened its doors.

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