(MENAFN- The Peninsula) Qatar Airways (QA), one of the fastest growing airlines in the world, earned "handsome profit" during the financial year 2013-14 and is looking forward to investment opportunities overseas, including in India, QA's Group Chief Executive, Akbar Al Baker, said yesterday.
"We made handsome profit during our previous financial year (ended March 31, 2014). Our current financial year will end in about three months time (March 31, 2015) so I would not be able to give results of QA for the current financial year," he said in reply to a question at a press conference, held for the global launch of its newly inducted world's first Airbus A350 XWB.
However, Al Baker did not provide any figures related to the company's performance during the previous financial year.
On QA's expansion and investment plans, he said the carrier is committed to introducing more fuel-efficient aircraft in its fleet, and working to increase capacity to several countries, including India.
Expressing his interest in investment plans and growth prospects in India, he said the country is a "sleeping superpower" but its potential is not being fully utilised.
"QA is very keen to invest in India. Opening up of the skies to Indian and foreign carriers will increase more opportunities of business and tourism which will create additional jobs in several other sectors, including the aviation industry.
"But, unfortunately, politicians put their personal interests above the nation," he quipped.
However, he praised Prime Minister Narendra Modi.
"I have absolute confidence in the government of PM Modi. He is a very forward looking individual, who has big plans for India.
"And I am sure that only in time people will realise the potential the aviation industry brings to a country," he said, citing Qatar.
Al Baker said Qatar's airport in 2014 received a footfall of around 30 million passengers, which would not have been possible without the existence of QA
"The airline is making significant contribution to the country's GDP.
"I think all this should convince Indian politicians so that they keep the interest of the country ahead of their political interests, and do not block (foreign) airlines coming to (invest) in India," Al Baker said.
Asked about the airline's proposed Al Maha Airways, a domestic subsidiary in Saudi Arabia, he said: "We are in the process of obtaining licences required to start operations."
On the possibility of privatisation of QA, he added: "In 2008, during global economic recession, we were looking to privatise the carrier, but now the company has decided (at the board level) not to go for privatisation at least for the next 10 years."
He said the company is moving ahead with its aggressive expansion plan, and will roll out new destinations as it starts receiving more deliveries of aircraft from Airbus and Boeing.
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