Oman Air Increases Capital; Sheds Light on the Buoyant Year that was and the Future Expansion
Capital raised; 8 new destinations added; expansion continues
Date: 3 Apr 2010
HE Ahmed Bin Abdulnabi Macki
* Oman Air authorised capital increased from RO 300 million to RO 500 million.
* 8 new destinations planned for 2010 – Kuala Lumpur, Kathmandu,
Dar- Es-Salaam, Islamabad, Lahore, Ras Al Khaima, Al Ain and Milan.
* 28% capacity added during 2009 with the addition of 5 Boeing 737s, 4 wide bodies aircrafts and 5 long haul destinations.
* Carried 2.4 million passengers – a 19% increase compared to last year with seat utilisation of 61%.
* 2010 challenging but buoyant.
The Oman Air Extraordinary General Meeting and Annual General Meeting held on March 31st brought to light the landmark year that 2009 was, when Oman Air repositioned itself from being a regional carrier to a truly international airline.
HE Ahmed Bin Abdulnabi Macki, Minister of National Economy, Deputy Chairman of Financial Affairs & Energy Resources Council and the Chairman of Oman Air Board, announced that the authorised capital of Oman Air has been increased from RO 300 million to RO 500 million. "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," Macki said.
"As per the recent data released by IATA, 2009 was one of the most difficult years for the airline industry in which the airlines collectively lost in excess of $ 11 billion. Globally passenger travel contracted by 3.5 % while cargo movement declined steeply by 10.1%. The industry is expected to show improved results in 2010 as passenger travel is picking up especially in the premium cabins. It will however take time for the business to return to the levels seen before the economic crisis. Financial results of Oman Air too were impacted by adverse economic conditions. Going forward Oman Air will commence flights to Kuala Lumpur, Kathmandu, Dar-Es-Salaam, Islamabad, Lahore, Ras Al Khaima, and Al Ain in the summer schedule of 2010, with Milan joining the network in the Winter Schedule,” the Minister added.
In his report, His Excellency Macki also said that during 2009, Oman Air added 28% capacity with the addition of 5 Boeing 737s, 4 wide bodies aircrafts and 5 long haul destinations, namely, Paris, Frankfurt, Munich, Male and Colombo.
“Our new A330s replaced the wet leased operations on the London and Bangkok routes. We carried 2.4 million passengers, up by 19%. In the context of worldwide recessionary conditions and the new routes introduced during the year, we had a healthy seat utilisation of 61%.”
The Minister also shed light on the new airport terminal that will be developed in two phases, the first phase of which is expected to be completed in 2014. This will see the airport’s capacity grow from the present 4 million to 12 million passengers. He added that these additional modern facilities will mean significant business opportunities for Oman Air.
Oman Air press release
Capital raised; 8 new destinations added; expansion continues
Date: 3 Apr 2010
HE Ahmed Bin Abdulnabi Macki
* Oman Air authorised capital increased from RO 300 million to RO 500 million.
* 8 new destinations planned for 2010 – Kuala Lumpur, Kathmandu,
Dar- Es-Salaam, Islamabad, Lahore, Ras Al Khaima, Al Ain and Milan.
* 28% capacity added during 2009 with the addition of 5 Boeing 737s, 4 wide bodies aircrafts and 5 long haul destinations.
* Carried 2.4 million passengers – a 19% increase compared to last year with seat utilisation of 61%.
* 2010 challenging but buoyant.
The Oman Air Extraordinary General Meeting and Annual General Meeting held on March 31st brought to light the landmark year that 2009 was, when Oman Air repositioned itself from being a regional carrier to a truly international airline.
HE Ahmed Bin Abdulnabi Macki, Minister of National Economy, Deputy Chairman of Financial Affairs & Energy Resources Council and the Chairman of Oman Air Board, announced that the authorised capital of Oman Air has been increased from RO 300 million to RO 500 million. "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," Macki said.
"As per the recent data released by IATA, 2009 was one of the most difficult years for the airline industry in which the airlines collectively lost in excess of $ 11 billion. Globally passenger travel contracted by 3.5 % while cargo movement declined steeply by 10.1%. The industry is expected to show improved results in 2010 as passenger travel is picking up especially in the premium cabins. It will however take time for the business to return to the levels seen before the economic crisis. Financial results of Oman Air too were impacted by adverse economic conditions. Going forward Oman Air will commence flights to Kuala Lumpur, Kathmandu, Dar-Es-Salaam, Islamabad, Lahore, Ras Al Khaima, and Al Ain in the summer schedule of 2010, with Milan joining the network in the Winter Schedule,” the Minister added.
In his report, His Excellency Macki also said that during 2009, Oman Air added 28% capacity with the addition of 5 Boeing 737s, 4 wide bodies aircrafts and 5 long haul destinations, namely, Paris, Frankfurt, Munich, Male and Colombo.
“Our new A330s replaced the wet leased operations on the London and Bangkok routes. We carried 2.4 million passengers, up by 19%. In the context of worldwide recessionary conditions and the new routes introduced during the year, we had a healthy seat utilisation of 61%.”
The Minister also shed light on the new airport terminal that will be developed in two phases, the first phase of which is expected to be completed in 2014. This will see the airport’s capacity grow from the present 4 million to 12 million passengers. He added that these additional modern facilities will mean significant business opportunities for Oman Air.
Oman Air press release
