Oman Air marks turnaround with 30% increase in revenues

  • Date: 30-Mar-2024
  • Source: Muscat Daily
  • Sector:Technology
  • Country:Oman
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Oman Air marks turnaround with 30% increase in revenues

Oman Air has embarked on a transformation journey, witnessing an improvement in revenues and operational efficiency at the end of 2023.Muscat – Oman Air has embarked on a notable transformation journey, witnessing a substantial improvement in its financial health and operational efficiency at the end of 2023. The national carrier reported a 36% decrease in net losses and 30% increase in revenues compared to the previous year.

H E Said Hamood al Mawali, Minister of Transport, Communications and Information Technology and Chairman of Board of Directors of Oman Air, shared these figures at the third media briefing on Saturday dedicated to discussing the airline’s ongoing transformation initiatives.

H E Said Hamood al Mawali, Minister of Transport, Communications and Information Technology

According to H E Mawali, the positive results stem from the successful execution of the second phase of the airline’s transformation programme initiated in March 2023. This phase included strategic adjustments to flight destinations for the  2023 winter season, leading to the optimisation of flight frequencies on certain routes due to underperformance, without necessitating the suspension of any routes or the sale of aircraft.

The minister highlighted rigorous cost-control measures, including cessation of all non-essential expenditures, such as sponsorships and unnecessary service contracts. A