Oman Air Raises its Capital

04.04.2010 Oman

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Oman Air raised its authorised capital to RO500 million ($1.3 billion) from RO300 million and added 8 new destinations for the year, said a top official of Oman's national carrier.
Ahmed Bin Abdulnabi Macki, Minister of National Economy, Deputy Chairman of Financial Affairs and Energy Resources Council and Chairman of Oman Air Board, said, 'We are confident that over a period of time when the airline has established its presence in the industry and its network has matured, we will see positive returns on investment.'

The Minister said Oman Air would start flights to Kuala Lumpur, Kathmandu, Dar-Es-Salaam, Islamabad, Lahore, Ras Al Khaimah, and Al Ain this summer, with Milan joining the network in the winter schedule.

In 2009, Oman Air added 28% capacity with the addition of five Boeing 737s, four wide-body aircraft and five long haul destinations, namely, Paris, Frankfurt, Munich, Male and Colombo.

Peter Hill, Chief Executive Officer, Oman Air, said: "We have now in place a first class senior management team that is capable of imparting their skills, knowledge and experience in developing the talents of Omani nationals to enable them to take on a greater responsibility for the management and strategic development of the company in the future."

"Looking forward to 2010, I am under no illusion that this again will be yet another tough year for the aviation industry worldwide, and for Oman Air in particular," Hill concluded.
 
 



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