Oman Air to appoint new CEO soon, airline to reduce losses, says Minister

Oman Air to appoint new CEO soon, airline to reduce losses, says Minister

“We expect Oman air to be stable by 2026, especially in terms of financial sustainability, and shortly after we will begin to grow and accelerate,” says H.E. Eng. Saeed bin Hamoud bin Saeed Al Mawali, Minister of Transport, Communications and Information Technology and Chairman of the Board of Directors of Oman Air Company.

The post Oman Air to appoint new CEO soon, airline to reduce losses, says Minister appeared first on The Arabian Stories News.MUSCAT : Discussing the transformation plan of the national airline, Oman Air, at a media meeting today, February 14, the Minister highlighted the fall in the company’s losses and an increase in revenues during the year 2023, with improvement of financial performance without resorting to borrowing from commercial banks or government support.

His Excellency explained that the positive results achieved were due to a set of strategic measures and decisions in line with the objectives of the transformation plan program announced last August to address the problem of accumulated debts and long-term operational losses.He further indicated that the decision had been taken to determine an appropriate size of fleet and to review the network of destinations in the commercial hub within the airline’s transformation plan. This, he said,