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FINANCIAL NEWS
Oman Air, Singapore Airport Authority sign deal
15 Dec 2014
(MENAFN) Oman Air, the sultanate’s national carrier, said that it will sign an agreement with the Singapore airport authority for the forming a cargo handling facility at Muscat International as part of its expansion plan, Times of Oman reported.
Under the agreement, a new state-of-the-art cargo handling facility will be constructed in Muscat Airport under the supervision of Singaporean experts, while another facility specialized in handling cargo will be built separately and will be 100 percent owned by Oman Air, with the facility expected help the airline in attracting European cargo airlines to route their freights through Muscat and connect them with Eastern Africa, Europe and the United States.
Oman air also said that it is planning to restructure the carrier by creating a holding company, which will handle the business, while the carrier itself will focus more on the core activity of flying passengers and cargo, with the expansion of Muscat Airport expected to help it offer additional flights and right connections.
“We are investing in fleet, new destinations, products on board, infrastructure, information technology systems, and for training people. Our investment in airlines is beneficial for the country as the national airline has contributed OMR400 million to the economy last year,” Oman Air Chief Executive said.
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