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FINANCIAL NEWS
Oman Air, SATS sign joint venture deal in Oman
03 Apr 2016
(MENAFN) Oman Air and SATS signed a joint venture agreement for cargo handling at Muscat International Airport.
Moreover, Oman Air will move its cargo handling business and related assets to Oman Air Cargo, which will acquires a 33 percent equity share.
In addition, Oman SATS Cargo will have an issued and paid up share capital of USD 1.29mn, comprising 500,000 shares of USD 2.58mn.
SATS will offer the requisite management and technical know-how to the joint venture including staff training as well as viewing of existing cargo processes.
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