The goal is to have a strong foundation for Oman Air
MUSCAT, APRIL 23
The transformation plan for Oman Air that began in 2023 has started showing positive results, the company said in a joint media briefing that was jointly held on Wednesday under the leadership of Saeed bin Hamoud al Maawali, Minister of Transport, Communications, and Information Technology and Chairman of Oman Air and Oman Airports.
Al Maawali said that consultants for the airline's transformation plan were selected based on the tender, and they did not help the company reduce operational losses.
"If you do not have a good financial foundation, you cannot grow. We aim to set a solid foundation for Oman Air, and we are already working towards that goal both internally and externally, because it is an enabler for other sectors like tourism, logistics, and business."
The airline emphasised the point-to-point services, which increased to 40 per cent in 2024 from around 27 per cent in 2019, while the load factor recorded last year was 75 per cent. The airline said that its load factor in Q1 2025 was the highest in its history. The airline is expected to add three 737 Max and two 787s as per its expansion plans.
Con Korfiatis, CEO, said that since its transformation in 2023, EBITDA improved by 51 per cent in 2024, compared to 2023 (after audit) as it carried over 5.4 million passengers, with the number of available Seat Kilometers (ASK) reported at around 19.4 billion. Other achievements included 92 per cent On-Time Performance.
The airline said it sold 13 excess aircraft through an auction to serve the optimised network.
Speaking on the contentious issue of rightsizing, the airline said it redeployed 74 Omani employees within the airline, while 87 have been offered roles across the aviation ecosystem. 293 have opted for severance packages ranging from 12-24 months, with the airline having invested around RO 15 million in severance packages to provide those affected with financial security. He said the rightsizing will help save RO 18 million annually.
The expatriate workforce was reduced by 487 and replaced with Omanis, helping the company to increase its Omanisation rate to 79.4 percent.
With the airline set to formally join the OneWorld alliance in June this year, its new expansion plans include flights to Amsterdam, double daily to London, and daily service to Moscow, codesharing with the budget airline SalamAir and ongoing discussions with them to swap certain routes as per the market needs and requirements.
Meanwhile, Al Mawali said that consultants for the airline's transformation plan were selected based on the tender, and they did not help the company reduce operational losses.
"If you do not have a good financial foundation, you cannot grow. We aim to set a solid foundation for Oman Air, and we are already working towards that goal both internally and externally, because it is an enabler for other sectors like tourism, logistics, and business."
He also said that old aircraft were sold through an auction by an agency. "These old aircraft had served their purpose and were less efficient compared to modern planes.
Overall plans include having a unified fleet of Boeing 737 Max and 787 aircraft.
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