Qatar Airways, the Gulf Arab state's flagship carrier, is considering an initial public offering (IPO) in 2011, according to a report by Reuters.

"It could be this year. The more market share we gain, the timeline moves forward," Akbar Al Baker told reporters, adding that the airline had appointed advisors but declined to name them.

In December, the company indicated it was planning an IPO in early 2012 after three consecutive years of profit. The airline, half-owned by sovereign wealth fund Qatar Investment Authority, is close to finalising a 35 percent stake in Europe's largest all-freight airline Cargolux.

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Along with Gulf rivals Etihad and Emirates Airway, Qatar Airways is one of the largest buyers of new aircraft, with orders for 80 Airbus A350s, 60 Boeing 787s and five Airbus SAS A380s.

Qatar Airway said in March it would hire 11,500 new staff over the next three years to keep pace with an expansion plan that will see it serve 120 destinations by 2013.

The airline intends to grow its fleet to more than 120 aircraft during the same period.