Oman Air AGM focuses on positive results

Oman Air’s shareholders have received positive financial results for 2014 at the airline’s annual general meeting (AGM) held at the airline’s headquarters in Muscat.
Oman Air’s Chairman Darwish bin Ismail Al-Balushi and CEO Paul Gregorowitsch provided reports covering the company’s financial and operational progress over the last full year.
Shareholders heard that Oman Air’s revenues increased by four percent, to RO398.389 million. Furthermore, the airline’s losses were reduced by four percent to RO95.866 million.
In addition, Oman Air carried 5.1 million passengers in 2014, up from 4.9 million the previous year. More than 23,500 roundtrips were recorded and capacity in 2014 rose to 15.2 billion available seat kilometers, with an average seat factor of 74.4 percent being achieved.
The year also saw Oman Air consistently add new aircraft to its fleet, with the first of the Airbus A330s and Boeing B737s it has had on order being delivered in the fourth quarter.
Oman Air’s staff at Muscat International Airport also handled 41,450 flights and 8.7 million passengers over the course of the year. Of these flights, 18,000 were operated by airlines other than Oman Air, resulting in an increase to RO18 million in the total handling fees received in 2014.
Oman Air’s catering division served 6.7 million meals in 2014, up from 6.5 million in 2013, and increased revenues year-on-year by three percent.
Al-Balushi commented: “Oman Air is guided by a development plan which was endorsed by the board of directors in 2013. The size of our fleet is expected to increase as per this plan to 50 aircraft by 2018, with a further increase to 70 aircraft being achieved by 2020. And, crucially we have increased our revenues by four percent to more than RO398 million, and reduced our loss by four percent to less than RO96 million.”