Friday 26 / July / 2024
Muscat: Plans to turn around Oman Air have been launched with a "Transformation office" set up, according to Engineer Saeed bin Hamoud Al Maawali, Minister of Transport, Communications and Information Technology and Chairman of the Board of Directors of Oman Air on Monday
As part of the restructuring plan to make the company curb the debts and become a profit making airlines in "four to five years" the minister also confirmed the appointment of new Oman Air Acting CEO.
At a press conference held at the Oman Air headquarters, he named Nasser al Salmi as the new Acting CEO. Salmi replaces Abdul Aziz Al Raisi the outgoing CEO of Oman Air.
The restructuring plan will be based on four pillars and financial sustainability will be one of the key pillars. Human resources management, effective governance and financial efficiency are the other pillars of the new turnaround plans.
Al Maawali admitted that the debts of Oman Air are significant and there is immediate attempts to reduce it through "right sizing" of the airlines.
He hoped that the plan that has been envisaged by a leading consultancy firm Oliver Wyman after a thorough study which was submitted in June and we began the implementation of it in the first week of July. "We will have the turnaround plan for 3-4 years and believe that we will be able to achieve success and make Oman Air a successful airlines," he said.
Al Maawali also announced the setting up of a new board for civil aviation sector that will include all transport and aviation companies under it. The seven-member board will include four technocrats including an Omani and two government representatives besides the chairman. The board will be announced on August 19.
