Oman Air hopes to achieve profitablity by 2017 under an ambitious plan which focuses on fleet and network expansion and cost reduction.

Oman Air chief executive officer Paul Gregorowitsch set out ambitious proposals for growth at a recent Oman Air conference. They included the continuation of its expansion strategy together with the launch of a cost savings programme, saving the airline RO100 million ($259.7 million) over the next three years.

The theme of the event was ‘To become the Best’.

“The 10-year strategy of Oman Air has been prepared, and has been thoroughly evaluated and assessed. It focuses mainly on fleet and network expansion, and on boosting revenues so as to reach breakeven and hence attain profitability. At the same time, we will continue to provide the very best, highly distinguished services and ensure that our valued customers remain our top priority,” said Darwish bin Ismael Al Balushi, the Minister Responsible for Financial Affairs and chairman of the Board of Directors of Oman Air.

“With the start of 2015, we have set new financial targets for Oman Air. Whilst these are more challenging than in previous years, our vision, objectives and values remain the same,” Gregorowitsch said.

“Our objectives are to be a safe airline, to be the airline of First Choice, to make money by increasing revenues and reducing costs, to cater for growth as set out in our 10 year plan, and to contribute to the development of the Sultanate,” he said.

However, the need for financial stringency, runs in parallel with the airline’s expansion of its fleet and global network. Al Balushi both explained that growth was not only the key to building Oman Air’s revenues, but also the key to meeting and exceeding customers’ expectations, and to retaining their business.

As a result, Oman Air will continue to add new aircraft to its fleet, open up more routes and increase frequencies on established services. – TradeArabia News Service