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Report No. : |
319480 |
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Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
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Name : |
QATAR AIRWAYS QSCC |
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Registered Office : |
Qatar Airways Tower, Building No. 145, 5th Floor, Suite No.
310, Airport Road, PO Box 22550, Doha |
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Country : |
Qatar |
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Date of Incorporation : |
22.11.1993 |
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Com. Reg. No.: |
16070 |
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Legal Form : |
Qatari Shareholding Company Closed |
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Line of Business : |
National Airline Carrier. |
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No. of Employees : |
192 |
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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Qatar |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
QATAR - ECONOMIC OVERVIEW
Qatar has prospered in the last several years with continued
high real GDP growth. GDP was driven largely by the oil and gas sector however
growth in the manufacturing, construction, and financial services sectors have pushed
the non-oil component to just over half of Qatar’s nominal GDP for the first
time since 2000. Economic policy is focused on sustaining Qatar's nonassociated
natural gas reserves and increasing private and foreign investment in
non-energy sectors, but oil and gas still account for roughly 92% of export
earnings, and 62% of government revenues. Oil and gas have made Qatar the
world's highest per-capita income country and the country with the lowest
unemployment. Proved oil reserves in excess of 25 billion barrels should enable
continued output at current levels for about 56 years. Qatar's proved reserves
of natural gas exceed 25 trillion cubic meters, about 13% of the world total
and third largest in the world. Qatar's successful 2022 World Cup bid is accelerating
large-scale infrastructure projects such as Qatar's metro system, light rail
system, the construction of a new port, roads, stadiums and related sporting
infrastructure. The new Hamad International Airport opened in mid-2014 with an
initial annual passenger capacity of 24 million and with a projected 50 million
when complete.
|
Source
: CIA |
Company Name :
QATAR AIRWAYS QSCC
Country of Origin :
Qatar
Legal Form :
Qatari Shareholding Company Closed (QSCC)
Registration Date :
22nd November 1993
Commercial Registration Number :
16070, Doha
Membership Number :
192
Issued Capital :
QR 143,800,000
Paid up Capital :
QR 143,800,000
Total Workforce : 17,000
Activities :
National Airline Carrier.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
QATAR AIRWAYS QSCC
Registered &
Physical Address
Building :
Qatar Airways Tower, Building No. 145, 5th Floor, Suite No. 310
Street : Airport Road
PO Box : 22550
Town : Doha
Country : Qatar
Telephone : (974) 44621990
/ 44302129 / 44621567
Facsimile : (974) 44302149
Email : qrmedia@qatarairways.com.qa
/ msingh@qatarairways.com.qa
/ etorres@qatarairways.com.qa
Premises
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Doha.
Name Position
Akbar Al Baker Chief
Executive Officer
Abdul Rahim Al Siddiqi Flight
Operations Manager
AT Raghunathan Finance
Manager
Ahmed Al Hussaini Logistics
Manager
Anthony Saville Technical
Manager
Mohamed Saleh Fakhri Commercial
Manager
Muhammad Asadullah Human
Resources Manager
Bradley Warren IT
Manager
George Mathew Cargo
Manager
Ghassan Fakhri Engineering
Manager
Mohamed Iftikhar Mohamd Imtiaz Operations
Manager
Jaspal Brar Retail
Manager
Kamar Abbas Financial
Controller
Gopal Krishnan Treasury
Manager
Erna Torres Buying
Officer
Date of Establishment : 22nd
November 1993
Legal Form : Qatari
Shareholding Company Closed (QSCC)
Commercial Reg.
No. : 16070
Membership No. : 192
Issued Capital : QR 143,800,000
Paid up Capital : QR 143,800,000
Name of
Shareholder (s) Percentage
Government of Qatar 100%
As of May 2014, the company is fully
owned by the Qatari government.
Qatar Airways has been fully controlled by the government since July 2013,
following the buyout of a 50% stake from a former foreign minister and other
shareholders.
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
Dhiafatina For Hotels
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 144 destinations.
Subject’s fleet comprises 134 aircraft and over the next year subject
expects to take delivery of some of the 170 planes it currently has on order.
Fleet Details
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31 Airbus A320-200s
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16 Airbus A330-200s
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13 Airbus A330-300s
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10 Airbus A321-200s
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2 Airbus A319-100LR
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4 Airbus A340-600
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1 Airbus A380-800
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26 Boeing 777-300ERs
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9 Boeing 777-200LRs
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14 Boeing 787-8
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3 Airbus A330-200F
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6 Boeing 777F
Subject also operates the In-flight
Duty division called “Qatar Airways Inflight Duty Free” which is involved in
the retail of on-board duty free products, including perfumes, toys and luxury
items.
During September 2014 subject took delivery of its
first A380 from Airbus, promising “class” not butlers for passengers travelling
from London’s Heathrow airport to Doha when the superjumbo takes up the route
next month. The delivery of the first of 10 A380s ordered by Qatar Airways
brings to an end a three-month dispute between the airline and Airbus over the
quality of the cabin interiors. Mr Al Baker had previously rejected delivery of
the aircraft after saying the cabin was not up to expectations. Mr Al Baker
hinted that Qatar Airways, which has ordered 80 A350s, could buy more.
Import Countries: Europe and the United States of America
Subject has a workforce of approximately 17,000 employees.
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.
Doha Bank Ltd
Al Jasrah Street
PO Box: 3818
Doha
Tel: (974) 44435444
Fax: (974) 44416631 / 44410625
Commercial Bank of Qatar Ltd (QSC)
PO Box: 3232
Doha
Tel: (974) 44490222
Fax: (974) 4438182
Standard Chartered Bank
Abdullah Bin Jassim Road
PO Box: 29
Doha
Tel: (974) 44414252
Fax: (974) 44413739
No complaints regarding subject’s payments have been reported.
Qatar Airways is the national carrier for Qatar and flies to over 140
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 subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.96.55 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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 |
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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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.