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Qatar Airways becomes fully state-owned

Dubai - Qatar Airways has become fully state-owned after the government bought out private investors, including a former prime minister, its chief executive Akbar Al-Baker said on Monday.

Al-Baker said the acquisition took place last year, shortly after a political shake-up in which Sheikh Hamad bin Jassem was removed from the post of prime minister.

The airline became "100% government-owned at the end of July" when 50% of the company was purchased from the investors including Sheikh Hamad, Al-Baker told reporters in Dubai.

"It was not only Hamad bin Jassem; there were other shareholders," he said at the Arabian Travel Market.

He declined to say how much was paid for the stake of the ex-premier, who was relieved of the post when emir Sheikh Hamad bin Khalifa al-Thani abdicated unexpectedly in favour of his son Sheikh Tamim in June 2013.

"How much he sold his shares for, I don't know. I wasn't part of it," said Al-Baker, who also declined to comment on the motives for the buyout.

Qatar Airways, he said, would start revealing its results now that the carrier was government owned.

"I don't think the government has any issues for us to start announcing our profits" following the buyout, he said. "Once our last financial year audit is complete, we will say how much money we've made."

During Sheikh Hamad's reign, Qatar adopted an ambitious foreign policy, until last year's unexpected political shake-up.

Qatar Airways, along with Dubai's Emirates and Abu Dhabi's Etihad, have snatched a sizable share of the long-haul travel sector, turning their home cities into major hub on the routes to Asia and Australasia.

The three are major clients of aircraft manufacturers, with extensive lists of orders from Boeing and Airbus.

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