Oman Air will more than double its contribution to the country’s gross domestic product this year to OR900 million ($2.3 billion) as it seeks to continue expansion of its fleet and network.
The national carrier increased its GDP contribution in 2016 by 6 percent to OR415 million, despite global volatility, the economic downturn and drastically reduced government support from more than OR100 million to just OR20 million, a company statement said.
Continued fleet and network expansion together with a renewed focus on on-board services and developments will be a priority for Oman Air in 2017, it added.
Oman Air said increasing global competition and pressure from other carriers made it imperative for the airline to “stand out in an increasingly crowded market place”.
It said that the launch of its first destination in China in December was a major milestone, adding that network developments are continuing apace in 2017 with the revised flight agreement with the Government of India resulting in increased frequencies to five of Oman Air’s 11 Indian destinations.
Paul Gregorowitsch, CEO Oman Air, said: “2016 was a year of significant growth… Together we are on a journey to become the best. Our objectives remain the same, where our financial performance needs to be improved further. These objectives have been facilitating Oman Air’s tremendous growth, making money, increasing our market share as airline of first choice and ultimately running a safe airline.
“To think that this has all been achieved in the context of an increasingly volatile marketplace and decreasing Government support is a good achievement.”
