FINANCIAL NEWS

Oman Air raises capital to USD1.41b

16 Dec 2014

(MENAFN) Oman Air, the Sultanate’s national carrier, said that it has raised its capital base to USD1.41 billion from its previous capital of USD1.21 billion by adding an additional USD194 million, which was provided by the government, Times of Oman reported.

The airline said that this additional capital will enable it to invest in fleet and route expansion programs, which is part of its massive expansion program to increase its fleet to 55 planes as well as to fly to 70 destinations by 2017, compared to its current 45 ones.

Oman Air is also planning to increase its capacity, by carrying six million passengers next year, compared with five million passengers it carried in 2013, which will be supported through a massive route expansion program as well as heavy investments made in the carrier’s technology.

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