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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Oman Air capital raised by RO160 million

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The Capital Market Authority (CMA) issued a decision approving the decision of the Extraordinary General Assembly of Oman Air, which was held on March 30 last year, related to increasing the company’s capital through private subscription, to exceed the paid-in capital of RO1. 27 billion, an increase of 160 million Omani riyals to the paid-up capital. It was previously RO967 million before this decision.


The National airline, Oman Air, recently said that it will focus on financial sustainability by targeting key markets and through a flexible business model.


During a presentation made by 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.


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.


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