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Oman Air increases capital

altApril 4- Oman Air has increased its capital to $1.3 billion (about 67 per cent) and will add new destinations this year, said Peter Hill, the airline’s CEO. He added that this year is going to be difficult for the airline. "Looking forward to 2010, I am under no illusion that this again will be yet another tough year for the aviation industry worldwide, and for Oman Air in particular,” he added.

The airline is slated to fly to eight new destinations this year, said Ahmad bin Abdul Nabi Mekki, Minister for Economy. He said that while the global financial crisis affected Oman Air in 2009, “we are confident that over a period of time when the airline has established its presence in the industry and its network has matured, we will see positive returns on investment." The news destinations include Milan, Kuala Lumpur, Kathmandu, Dar es Salaam, Islamabad, Lahore, and the UAE cities of Al Ain and Ras al Khaimah.

The airline posted a loss of $109 million in 2008 hopes to return to profit by 2014, said Hill.
 

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