Oman Air revenue up, net loss widens

At its recent Annual General Meeting, Oman Air reported strong revenue growth supported by growth in seat capacity, cargo operations and the number of passengers carried in 2013.


net loss widens Oman Air revenue up


At its recent Annual General Meeting, Oman Air reported strong revenue growth supported by growth in seat capacity, cargo operations and the number of passengers carried in 2013. Oman Air ‘s cargo operation handled 119,785 tonnes of cargo in 2013, an increase of seven per cent on 2012 while the carrier’s passenger capacity increased to 14.9 billion available seat kilometres (ATKs) in 2013, enabling the airline to carry a total of 4.99 million passengers during the period, nearly 13 per cent more passengers than in 2012. These results, together with those of all the airline’s other areas of operations, contributed to an increase in Oman Air ‘s total revenues in 2013 of 10 per cent, compared to 2012, to a total of OMR 381.7 million (US$991.3 million).

Despite this rise in revenue, Oman Air posted a net loss for 2013, up 16 per cent year-on-year, to OMR 113.3 million, which the company said was a result of its continued investment in new aircraft. “The arrival later in 2014 of the first of the 20 new aircraft we currently have on order will signal the start of a major new phase in Oman Air ‘s growth and an increase in our capacity to tackle Oman Air ‘s deficit and move towards profitability,” said Darwish Bin Ismail Al Balushi, chairman of Oman Air.