Oman Air increases capital, outlines future expansion

Oman Air announced (03-Apr-2010) the following highlights from 2009 and expansion plans for 2010:

• 2009 highlights:
  • Authorised capital: Increased from OMR300 million (USD779 million) to OMR500 million (USD1.3 billion);
  • Capacity: +28%, with the addition of five B737s, four widebody aircraft and five long-haul destinations (Paris, Frankfurt, Munich, Male and Colombo);
  • Traffic: 2.4 million passengers, +19% year-on-year;
  • Seat utilisation: 61%;
• 2010 plans/outlook:
  • New destinations planned for 2010: Eight, including Kuala Lumpur, Kathmandu, Dar-Es-Salaam, Islamabad, Lahore, Ras Al Khaimah, Al Ain (all Summer 2010) and Milan (Winter 2010);
  • Outlook: "Challenging, but buoyant". [more]

Oman Government: "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 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", HE Ahmed Bin Abdulnabi Macki, Minister of National Economy, Deputy Chairman of Financial Affairs & Energy Resources Council and Chairman of Oman Air. Source: Oman Air, 03-Apr-2010.

Oman Air: "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", Peter Hill, Chief Executive Officer. Source: Oman Air, 03-Apr-2010.