Qatar Airways has identified European takeover target, says CEO
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu January 19, 2012 6:23 pm

QATAR. Qatar Airways is examining a potential acquisition in Europe, where the carrier last year purchased a stake in freight operator Cargolux International, Chief Executive Officer Akbar Al Baker said today.

The Gulf region’s second-largest airline has “identified” a target or targets as it looks for takeover prospects, Al Baker said in a briefing at the Bahrain Air Show.

“We need to look at every business opportunity we can get,” Al Baker said of prospects in Europe. “I just want to make sure Qatar Airways grows in a very sustained environment.”

Qatar Air is also interested in investing in India, though overseas carriers currently face hurdles that make such a move impractical, the executive said.

“The climate for airlines to invest in India should be conducive to proper business processes,” he said. “We will not go to India just to be a partner -- we are going to help them become more profitable, to get further investment, further capital, but then we also need to have return.”

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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BAHRAIN. The "increasingly deregulated and competitive economic environment is facilitating rapid growth in business development within the private sector."
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INTERNATIONAL. Participants in the global oil market are eagerly awaiting the Opec meeting on November 27, which could potentially set the tone and the direction of oil prices.
INTERNATIONAL. In the end, it is unlikely that the territorial Islamic State can survive. The truth is that Turkey, Iran and Saudi Arabia are all waiting for the U.S. to solve the problem with air power and a few ground forces. These actions will not destroy IS, but they will break the group's territorial coherence.
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