MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
QATAR AIRWAYS WLL |
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Registered Office : |
Qatar Airways
Tower, Airport Road, PO Box
22550, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
20.01.1994 |
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Legal Form : |
With Limited Liability - WLL |
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Line of Business : |
National Airline Carrier. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
US$ 1,750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : QATAR AIRWAYS WLL
Country of Origin : Qatar
Legal Form : With Limited Liability - WLL
Registration Date : 20 January 1994
Issued Capital : QR 400,000,000
Paid up Capital : QR 400,000,000
Total Workforce : 10,000
Activities : National airline carrier.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 1,750,000
COMPANY NAME
QATAR AIRWAYS WLL
ADDRESS
Registered & Physical Address
Building : Qatar Airways Tower
Street : Airport Road
PO Box :
22550
Town : Doha
Country : Qatar
Telephone : (974) 4496000 / 4496310 / 4496303 /
4621717 / 4496666
Facsimile : (974) 4622895 / 4621533 / 4621792
Email : qrmedia@qatarairways.com.qa
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Doha.
KEY PRINCIPALS
Name Position
·
Akbar Al Baker Chief
Executive Officer
·
Abdul Rahim Al Siddiqi Flight
Operations Manager
·
A.T. Raghunathan Finance
Manager
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Ahmed Al Hussaini Logistics
Manager
·
Anthony Saville Technical
Manager
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Mohamed Saleh Fakhri Commercial
Manager
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Muhammad Asadullah Personnel
Manager
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Bradley Warren IT
Manager
·
George Mathew Cargo
Manager
·
Ghassan Fakhri Engineering
Manager
LEGAL FORM & OWNERS
Date of Establishment : 20 January
1994
Legal Form :
With Limited Liability -
WLL
Issued Capital : QR 400,000,000
Paid up Capital : QR 400,000,000
Name of Shareholder (s)
·
Hamad Bin Ali
Jabor Al Thani & Family
·
Qatar
Insurance Co
·
Al Muftah
Group
·
Government of Qatar
·
Qatar
businessmen and private investors
AFFILIATED COMPANIES
The Qatar Airways Group consists of a number of subsidiary companies
that include:
· United Media
International Company
· Doha International
Airport
· Qatar Aviation
Services
· Qatar Duty Free
Company
· Qatar Distribution
Company
· Qatar Aircraft
Catering Company
· Qatar Airways
Holidays
OPERATIONS
Activities: By the end of 2003 Qatar Airways was flying
to 50 destinations across Europe, the Middle East, North
Africa, the Indian subcontinent and the Far
East. This has now been increased to over 80 destinations.
In June 2003, subject signed a US$ 5.1
billion agreement with Airbus for an additional 34 aircraft, which will allow
it to fly with a fleet of 52 Airbus aircraft by the end of 2008.
The company has also signed a US$ 1.2 billion
deal for two A380 ‘super jumbos’ which will become the flagships of the fleet
when they are delivered in early 2009. Over the next year subject expects to
take delivery of some of the 170 planes it currently has on order.
Fleet Details
- 12 Airbus A320-200s
- 4 Airbus A300-600s
- 18 Airbus A330-200s
- 13 Airbus A330-300s
- 6 Airbus A321-200s
- 3 Airbus A300-600 Cargo Freighter
- 1 Airbus A319CJ
- 2 Airbus A319LR
- 4 Boeing 777-300ERs
Import
Countries: Europe and the
United States of America
Subject has a
workforce of approximately 10,000 employees.
FINANCIAL DATA
Companies
registered in Qatar are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Doha Bank Ltd
Al Jasrah Street
PO Box 3818
Doha
Tel: (974) 4435444
Fax: (974) 4416631 / 4410625
·
Commercial
Bank of Qatar Ltd (QSC)
PO Box 3232
Doha
Tel: (974) 4490222
Fax: (974) 4438182
·
Standard
Chartered Bank
Abdullah Bin Jassim Road
PO Box 29
Doha
Tel: (974) 4414252
Fax: (974) 4413739
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Qatar Airways is the national carrier for Qatar and flies to over 80
destinations across Europe,
the Middle East, North Africa, the Indian subcontinent and the Far East.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and in
view of the above comments the subject is deemed a sound trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.28 |
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UK Pound |
1 |
Rs.73.43 |
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Euro |
1 |
Rs.68.22 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)