In a bid to ensure financial stability and operational efficiency, Eng. Saeed Al Mawali, Minister of Transport, Communications and Information Technology, and Chairman of Oman Air, has revealed an extensive restructuring initiative for the airline. The multi-year plan, set to unfold over 3-4 years, aims to tackle persistent losses and mounting debt, with a focus on four key pillars: financial sustainability, corporate governance, commercial strategies, and workforce development.
The ultimate objective is to achieve sustainable commercial operations while enhancing core operational performance to meet market demands effectively.
Mawali emphasised that this transformation demands expert intervention, leading to forthcoming changes in the Board of Directors and Executive Management team. The program will also bring about reforms in corporate governance, encompassing human, financial, and commercial resources, aligned with the Board’s oversight.
The airline’s global network is under scrutiny by international experts, with decisions pending on whether certain routes will continue. Collaborative efforts with Salam Air also take precedence within the restructuring plan.