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FLEET EXPANSION PLANNED

Al Bulushi chairs the AGM.

Oman Air flies high with $1.03bn revenue in 2014

MUSCAT, March 28, 2015

Oman Air, the flag carrier of the Sultanate, said its total revenue rose four per cent to RO398.3 million ($1.03 billion) in 2014 when compared to the previous year.

This was broadly in line with the global industry average. This sum included the Government of Oman’s reaffirmed support for Oman Air in the form of a RO138.1 million contribution, said the carrier in its statement after the  airline’s Annual General Meeting (AGM).

The airline suffered an operational loss in 2014 amounting to RO95.8 million. However, the social and economic benefits enjoyed by the country as a result of the activities of Oman Air, reached RO420 million, as reflected in the study on contribution to the national economy conducted in this regard, assuring the importance of the role played by the national carrier in fulfilling the social and economic objectives of the national economy, it said.

Announcing the results, chairman Darwish bin Ismail bin Ali Al Bulushi, said the revenue growth had ensured that Oman Air’s net loss for 2014 was reduced by RO4.280 million, or 4 per cent, reversing a pattern set over the last few years largely as a result of investment in new aircraft.

In 2014, Oman Air operated more than 23,500 round trips and carried 5.1 million passengers, up from 4.9 million in 2013, said the top official.

"Meanwhile, our capacity in 2014 rose to 15.2 billion available seat kilometres, and we achieved an average seat factor of 74.4 per cent," h noted.

Al Bulushi said Oman Air was guided by a development plan which was endorsed by the company's board in 2013. "This sees our company invest significantly in new narrow-body and widebody aircraft, new destinations, technology and staff," he noted.

Al Bulushi pointed out that successful airlines also required strong leadership. In August the Omani national carrier appointed Paul Gregorowitsch as the new chief executive officer.  

On its future plans, the chairman said: "Oman Air aims to boost the fleet size to 50 planes over the next three years and further increase it to 70 by 2020 as per its new development plan."

"In 2014, the second year of our plan, we have consistently added new aircraft to the fleet. The first of the Airbus A330s and Boeing B737s we have had on order were delivered, and we have also opened four new destinations, to Duqm, Sohar, Manilla and Jakarta," stated Al Bulushi.

Furthermore, we have increased frequencies on a number of our established routes, he added.
 
According to him, the new aircraft and destinations have helped the national carrier to increase the range of choices it offers to customers and boost the level of services offered to them.

Oman Air’s ground services have also worked effectively in 2014, said Al Bulushi.

"Our staff at Muscat International Airport handled 41,450 flights and 8.7 million passengers over the course of the year. Of these flights, 18,000 were operated by airlines other than Oman Air, resulting in us increasing the total handling fees we received to RO18 million in 2014," he noted.

Building on its commitment to Omanisation, the airline said it continued to increase opportunities for Omani citizens and raise awareness of their achievements at an international level in 2014.

"Our ongoing sponsorship of the Oman Football Association and the national team has assisted in taking Omani sporting skill to huge international audiences, as has our sponsorship of Oman Sail. All these activities have brought international attention to Oman and have helped to raise awareness around the world of the country as an ideal destination for both business and leisure," he added.-TradeArabia News Service




Tags: fleet | Oman Air | Revenue |

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