Oman Airports posts strong financial and operational growth for 2024
Muscat – Oman Airports – the entity responsible for managing and operating the sultanate's civil airports and providing integrated airport operations and infrastructure management – on Wednesday announced strong financial and operational performance for 2024. This comes on the back of an extensive transformation strategy aimed at modernising infrastructure, enhancing the passenger experience, and bolstering financial resilience.
In mid-2024, Oman Airports launched a comprehensive transformation strategy to improve efficiency and customer experience through the adoption of cutting-edge digital technologies. This included self-service baggage drop systems, advanced crowd management solutions, a centralised digital dashboard, and system upgrades across its airports.
Speaking at a joint annual press conference held by Oman Airports and Oman Air at the InterContinental Hotel in Muscat, Hamood bin Musbah al Alawi, Acting CEO of Oman Airports, delivered a presentation outlining the company's performance in 2024.
Alawi highlighted several key financial and operational milestones achieved in 2024, despite what he termed 'legacy challenges', including significant emergency maintenance costs and underutilised land within airport grounds.
He informed that the Muscat International Airport handled 12.9mn passengers in 2024, marking a 2% increase on the previous year. Meanwhile, Salalah Airport surpassed pre-pandemic levels, with passenger traffic rising by 17.3% compared to 2019 – signalling a strong recovery in both regional tourism and domestic travel.
Oman Airports reported RO114.5mn in operational revenue, with total group revenue reaching RO142.6mn. Net profit rose by 15% year-on-year to RO23.5mn, while the company achieved its highest-ever EBITDA, up by 43%.
Alawi noted that shareholder equity had increased by 33%, indicating growing investor confidence and financial sustainability.
As part of its ongoing commitment to empowering national talent and promoting workforce localisation, Oman Airports successfully replaced expatriate roles with 357 Omani nationals across contracts managed by the company, encompassing various educational and professional levels. In addition, 71 employment opportunities were offered to individuals affected by restructuring at Oman Air, supporting workforce continuity within the aviation sector.
Further demonstrating its localisation strategy, Oman Airports recruited 67 Omanis to operate and manage the parking facilities at Muscat International Airport. The company also absorbed 227 Omani employees following the withdrawal of a ground handling service provider from the local market, thereby reinforcing job stability and strengthening the national workforce.
At the annual press conference, both Oman Airports and Oman Air reiterated their joint commitment to sustainable growth, innovation, and strategic partnerships aimed at enhancing Oman's global aviation profile.
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