Oman Air to invest “hugely” in growth and move to profitability in 2014
Oman Air CEO, Peter Hill, announced plans to invest “hugely” in the growth of the carrier and move to profitability in 2014 (The National, 07-Mar-2010). However, Mr Hill added it does not plan to compete with other Gulf carriers on transit routes between Asia and Europe. The carrier's aircraft delivery schedule between 2009 and 2018 comprises 14 aircraft, including A330-300s and B787s, of which the Oman Air’s first B787 is expected in 2014.
Oman Air: “We always knew we would be making a fairly hefty loss in 2009 – as indeed we expect to in the next couple of years, because we are investing hugely in the growth of the airline. We have expanded routes when most airlines are contracting. We are never going to be an Emirates, an Etihad, or a Qatar Airways – we are always going to be a smaller player. So we have to look at where the traffic is likely to go or come from, and then target those markets. [The B787 delay] gives us some breathing space to really fine-tune our product and get our routes mature. But for three years we probably won’t have any new long-haul destinations. Is that good for Oman? Probably not,” Peter Hill, CEO. Source: The National, 07-Mar-2010.