Tunisian operator, Syphax Airlines (FS) says it expects to generate revenues of USD9.9million (TUD16million) in 2014 to grow to USD26.6million (TND43million) expected in 2017 on the back of a projected growth rate of 85.6%. While revenue projections remain ambitious, the airline does not expect to make a profit for 2012 or for 2013. However, despite this, the airline is planning an IPO in order to raise further capital for use in building new facilities as well as a acquiring new aircraft needed in its international expansion drive.