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FINANCIAL NEWS
State-owned Oman Air considers privatization
20 Nov 2014
(MENAFN) Oman Air, the loss making carrier, said that they are considering privatization the carrier as an option to deal with their financial issues, Arabian Business reported.
“We are on a journey to get the airline profitable and detached from the government,” the new Chief Executive of Oman Air said
The airline, which is struggling due to a very tough competition from three strong competitors in the region for the subcontinent traffic, said it hopes that it will be profitable by the end of 2017.
The idea of privatization comes in a time when the majority of airlines in the Arab world are owned by their governments, resulting in accusations from some competitors in Europe and the United States that they are unprofitable and benefit from state subsidies.
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