Revenue up at Oman Air but pressure still on, say experts

Revenue up at Oman Air but pressure still on, say experts

Oman Air has posted increased revenues for the past year but the sultanate’s flag carrier still faces difficult times ahead, aviation industry experts say. The heavily indebted airline launched a restructuring process last August in an attempt to balance the books within the next four years.  Oman Air’s net losses in 2023 fell by 36 […]

Net losses at flagship down 36%

Revenues rise by 30%

Load factor increases by 9%

Oman Air has posted increased revenues for the past year but the sultanate’s flag carrier still faces difficult times ahead, aviation industry experts say.

The heavily indebted airline launched a restructuring process last August in an attempt to balance the books within the next four years. 

Oman Air’s net losses in 2023 fell by 36 percent, while revenues were up 30 percent.

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“A 30 percent improvement in revenue is encouraging but operating costs will have increased, removing a large proportion of that benefit,” said John Grant, a partner at the UK-based consultancy Midas Aviation.

A detailed breakdown of the company’s financial performance was not provided.

Oman Air has retired its Airbus A330 aeroplanes, which made up almost half of its wide-body fleet. Boeing 737 aircraft will replace