Please register to access this content.
To continue viewing the content you love, please sign in or create a new account
Dismiss
This content is for our paying subscribers only

Business Aviation

Oman Air reports reduced losses as it undergoes transformation

The improvements were due to a set of strategic measures and decisions taken in line with



Out of the 34 pilots that have been signed, 21 are Omani pilots.
Image Credit: Supplied

Dubai: Oman Air records a reduction of losses by 25 per cent in 2023 as a result of improving ticket sales and streamlining exchange without resorting to borrowing from commercial banks or government support.

Saeed bin Hamoud Al-Ma’awali, Minister of transport, communications and information technology and chairman of the board of directors of Oman Air company, announced an increase in growth rates in revenues and an improvement in its financial performance.

Get exclusive content with Gulf News WhatsApp channel

The improvements were due to a set of strategic measures and decisions taken in line with the objectives of the transformation plan programme announced in 2023 to address the problem of accumulated debts and long-term operational losses.

"The strategic changes in Oman Air’s network of destinations and the company’s fleet will inevitably lead to a surplus in the fleet, which requires taking decisions regarding them, including streamlining some of the executive and administrative aspects and issuing a new organizational structure that suits the needs of the stage in all aspects," said Al-Ma’awali.

A new CEO, with more than 30 years of experience in the field of aviation, has been appointed and an evaluation of remaining executive and administrative positions will be carried out to maximize the airline’s performance by appointing qualified cadres to lead this strategic transformation.

Advertisement

Out of the 34 pilots that have been signed, 21 are Omani pilots, which is an indicator of the company’s eye for Omani cadre.

Al-Ma’awali stated that Oman Air is working to attract more travelers directly to Muscat, in cooperation with the Ministry of heritage and tourism, where an agreement was signed with an international company to attract 30,000 tourists to Oman during 2024.

Advertisement