Company Insights Oman Air Aviation Oman Air Overview Oman Air, the flag carrier of Oman, operates from Muscat International Airport, offering domestic, international, regional air taxi, and charter flights. Originally a founding shareholder in Gulf Air, Oman exited in 2007 to focus on its own airline. It began in 1970 as Oman International Services, a ground-handling provider, which expanded into aircraft engineering and in-flight catering, becoming a joint-stock company in 1981. Oman Air officially launched in 1993 with its first flight to Salalah in southern Oman and soon began international services, starting with Dubai. Following recapitalisation in 2007 the Omani government increased its ownership in Oman Air to 80 percent, launching long-haul flights to London and Bangkok. Since then Oman Air has expanded its fleet and was the first airline to offer in-flight mobile and wifi connectivity in 2010. It plans to join the Oneworld alliance by mid-2025. In 2023 Oman Air announced it was undergoing a restructuring process to reduce ongoing losses and debt accumulation. This includes re-evaluating its network and assessing whether to still fly to certain destinations. Oman Air News Trade Oman-China trade value hits $15bn Bilateral trade between Oman and China increased by 8 percent year on year in the first five months of 2024, reaching more than $15 billion, according to local media. Officials said during an Omani-Chinese friendship forum in the southern city of Salalah that the major joint projects with China currently being implemented in Oman are […] August 9, 2024 Video length: 04:49 VIDEO Aviation ‘It’s survival of the fittest’, says Oman Air CEO Oman Air is continuing to reduce its losses and increase revenue, but its new CEO believes that adding more airlines to the market would not be sustainable. “There’s certainly a huge amount of aircraft coming to this region,” said Con Korfiatis, CEO of Oman Air, speaking at Arabian Travel Market in Dubai in May a […] June 12, 2024 Aviation Oman seeks investors for new low-cost airline Oman plans to launch a new low-cost airline amid a global tourism rebound and the continued expansion of the Gulf state’s aviation sector. In a post on the social messaging platform X (formerly Twitter), the country’s civil aviation authority (CAA) announced an investment opportunity for a new low-cost airline operator in the sultanate. No further […] May 29, 2024 Analysis Aviation Qatar dazzles as Middle East aviation picks up pace The Middle East’s aviation sector is growing at twice the global rate and is expected to offer 257 million passenger seats this year, according to a new report. Not so long ago major airlines viewed the Middle East as a place to get cheap fuel on their way from Europe to South East Asia. Now […] May 8, 2024 Aviation Oman Airports profit up 45% in 2023 on higher revenue The combined net profit of Oman Airports surged 45 percent to OR18.5 million ($48 million) in 2023, compared to almost OR13 million in 2022. Consolidated revenue increased by 39 percent year on year to OR150 million last year, as subsidiaries reported higher income. Oman Airports Management Company generated over OR124 million, Oman Ground Handling contributed […] April 9, 2024 Aviation 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 […] April 2, 2024 Business of Sport Oman Air and Chelsea FC ‘terminate sponsorship deal’ A sponsorship deal between Oman Air and English Premier League club Chelsea FC has reportedly been terminated less than a year after it was signed. The three-year agreement was believed to be worth about £2 million ($2.5 million) a year and was announced last July. The partnership, which made the flag carrier the club’s global […] March 11, 2024 Aviation Oman Air 2023 losses down 25% on higher ticket sales State-owned Oman Air cut its losses by a quarter in 2023 as it streamlined expenditure and improved ticket sales, chairman Said Hamoud Al Ma’awali said. The airline is expected to see “good growth” in its financial performance by 2026 under its four-year transformation plan, state-run Oman News Agency reported, citing the top executive. No other […] February 15, 2024 Transport Oman Air cancels flights to South Asian cities Oman Air is cancelling flights to some South Asian cities as part of its transformation programme. The state-owned airline said the move is part of efforts to improve its financial performance and strengthen its position in a competitive market. Flights to Islamabad and Lahore in Pakistan, Colombo in Sri Lanka and Chittagong in Bangladesh will […] January 29, 2024 Opinion Aviation Gulf Air is battling for Bahrain’s skies Can another strategic turn really be successful? October 24, 2023 Posts navigation 1 2 3 Next
Trade Oman-China trade value hits $15bn Bilateral trade between Oman and China increased by 8 percent year on year in the first five months of 2024, reaching more than $15 billion, according to local media. Officials said during an Omani-Chinese friendship forum in the southern city of Salalah that the major joint projects with China currently being implemented in Oman are […] August 9, 2024
Video length: 04:49 VIDEO Aviation ‘It’s survival of the fittest’, says Oman Air CEO Oman Air is continuing to reduce its losses and increase revenue, but its new CEO believes that adding more airlines to the market would not be sustainable. “There’s certainly a huge amount of aircraft coming to this region,” said Con Korfiatis, CEO of Oman Air, speaking at Arabian Travel Market in Dubai in May a […] June 12, 2024
Aviation Oman seeks investors for new low-cost airline Oman plans to launch a new low-cost airline amid a global tourism rebound and the continued expansion of the Gulf state’s aviation sector. In a post on the social messaging platform X (formerly Twitter), the country’s civil aviation authority (CAA) announced an investment opportunity for a new low-cost airline operator in the sultanate. No further […] May 29, 2024
Analysis Aviation Qatar dazzles as Middle East aviation picks up pace The Middle East’s aviation sector is growing at twice the global rate and is expected to offer 257 million passenger seats this year, according to a new report. Not so long ago major airlines viewed the Middle East as a place to get cheap fuel on their way from Europe to South East Asia. Now […] May 8, 2024
Aviation Oman Airports profit up 45% in 2023 on higher revenue The combined net profit of Oman Airports surged 45 percent to OR18.5 million ($48 million) in 2023, compared to almost OR13 million in 2022. Consolidated revenue increased by 39 percent year on year to OR150 million last year, as subsidiaries reported higher income. Oman Airports Management Company generated over OR124 million, Oman Ground Handling contributed […] April 9, 2024
Aviation 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 […] April 2, 2024
Business of Sport Oman Air and Chelsea FC ‘terminate sponsorship deal’ A sponsorship deal between Oman Air and English Premier League club Chelsea FC has reportedly been terminated less than a year after it was signed. The three-year agreement was believed to be worth about £2 million ($2.5 million) a year and was announced last July. The partnership, which made the flag carrier the club’s global […] March 11, 2024
Aviation Oman Air 2023 losses down 25% on higher ticket sales State-owned Oman Air cut its losses by a quarter in 2023 as it streamlined expenditure and improved ticket sales, chairman Said Hamoud Al Ma’awali said. The airline is expected to see “good growth” in its financial performance by 2026 under its four-year transformation plan, state-run Oman News Agency reported, citing the top executive. No other […] February 15, 2024
Transport Oman Air cancels flights to South Asian cities Oman Air is cancelling flights to some South Asian cities as part of its transformation programme. The state-owned airline said the move is part of efforts to improve its financial performance and strengthen its position in a competitive market. Flights to Islamabad and Lahore in Pakistan, Colombo in Sri Lanka and Chittagong in Bangladesh will […] January 29, 2024
Opinion Aviation Gulf Air is battling for Bahrain’s skies Can another strategic turn really be successful? October 24, 2023
