The National airline, Oman Air, will focus on financial sustainability by targeting key markets and through a flexible business model.
At the presentation of the companies under the Oman Investment Authority, Oman Air said the new strategy is to link the Sultanate of Oman to the world, promote it as a destination for travel, and make the company a major enabler for the Omani economy.
“The airline aims to improve the company's financial sustainability through operational initiatives that cover the network of destinations, target key markets, and adopt an effective business model,” it said.
Oman Air also announced a plan for the travel and tourism sector in the Sultanate of Oman to benefit from the World Cup (Qatar 2022) in partnership with Omran, Oman Airports and official authorities in the country, to establish a city for fans coming to the World Cup at the Oman Convention and Exhibition Centre. Apart from providing hotel facilities, it will offer an air bridge for the matches venues in Qatar.
The airline stated that it seeks to enhance its operations by seeking to join the One World alliance, which includes more than 1,000 destinations in more than 180 countries around the world, and through a strategic partnership with Qatar Airways to reach more destinations. It will seek to restructure the aircraft fleet.
Oman Airports said its five-year plans include signing a concession agreement for all airports, managing the second southern runway project, expanding the direct network of destinations, developing air freight business, operating airports outside the Sultanate of Oman, establishing an airport free zone, managing all civil and oil airports in the Sultanate of Oman, stimulating privatisation by developing the lands of Muscat and Salalah airports.
The investment portfolio of the Omran Group is RO 675 million, while the number of hotel assets has reached 30 hotels, three of which are under construction.
Meanwhile, With the aim of contributing to the growth of the Omani economy, Omani Investment Authority decides to divide portfolios with clear objectives and specific terms of reference, while ensuring that there is no overlap between them, namely the "National Development Portfolio" and the "Generation Portfolio".
Abdulsalam bin Mohammed al Murshidi, Chairman of the Oman Investment Authority, said that the National Development Portfolio will manage all assets of more than 160 local companies, in addition to supporting the state’s general budget through dividends, privatisation proceeds and treasury management. The generational portfolio will include foreign and some local assets, including public and private markets, in addition to real estate.
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