Oman Air Sees 30 Percent Revenue Growth

November 26, 2012

Bookmark and Share

Oman Air, the sultanate's national carrier, expects its revenue to grow 30 percent in 2012 because of expanded operations, its chief executive said on Monday.

"I am pleased to say we are expecting a 30 percent revenue rise this year due to increased flights to Europe, the GCC (Gulf Cooperation Council) and other destinations because of higher demand," CEO Wayne Pearce said.

The company said in its 2011 financial report that it generated revenue of OMR311.3 million rials last year.

"Part of our growth strategy is to extend our destinations to 50 from the current 42. We will be announcing a few new routes next week," Pearce said. Oman Air's latest destination is Tehran, to which it started flying in September.

Pearce said the carrier added two aircraft this year to increase its fleet to a total of 28, and that the company plans to buy more in the near future.

"It will be helpful to our expansion flights if we buy more aircraft. That's why now we are evaluating plans to buy more A330s and Boeing 737 aircraft to cater for the increased demand," Pearce added without elaborating.

Oman Air currently operates 15 Boeing 737s, seven A330s, four Embraers and two ATRs.

"With Muscat and Salalah airports being extended, and other airports being built, we need to grow to keep with the future demand," Pearce said.

Oman plans to spend a total of USD$14 billion on airport projects, including the construction of new airports in Sohar, Duqm, Ras Al Hadd and Adam.

(Reuters)