Oman Air Reports 25% Drop in Losses After Undergoing Transformation

Publish date: Monday، 19 February 2024

Oman Air, the national carrier of the Sultanate, has announced a significant milestone with a 25% reduction in losses recorded in 2023. This achievement comes as a result of enhanced ticket sales and operational efficiencies, marking a positive turn for the airline without resorting to external financial support.

Strategic Measures Pay Off

Saeed bin Hamoud Al-Ma’awali, Minister of Transport, Communications, and Information Technology, and Chairman of Oman Air's Board of Directors, highlighted the success of strategic initiatives aimed at boosting revenue and improving financial performance. These measures align with the objectives outlined in the airline's transformation plan program, targeting the resolution of long-standing debt issues and operational losses.

Oman Air Reports 25% Drop in Losses After Undergoing Transformation

New Leadership and Organizational Restructuring

Underlining the commitment to strategic transformation, Oman Air has appointed a new CEO with over three decades of aviation experience. Additionally, the airline plans to streamline executive and administrative functions and introduce a revamped organizational structure to better align with its current needs.

Focus on Local Talent and Route Expansion

Notably, Oman Air's efforts to bolster its workforce include the recruitment of 34 pilots, with 21 being Omani nationals, signaling a commitment to nurturing local talent. Furthermore, the airline aims to attract more tourists to Oman by enhancing direct flight connections to Muscat, in collaboration with the Ministry of Heritage and Tourism. An agreement with an international partner aims to bring in 30,000 tourists to the Sultanate in 2024.

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Oman Air Reports 25% Drop in Losses After Undergoing Transformation

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