Oman Air reveals its annual financial report for 2011

Oman Air has published its annual report for 2011. The report reflects the company's achievements, its outstanding efforts and the successful approach towards the development of all aspects of its operations in order to continue the company's growth and successes. Oman Air's business operations have witnessed remarkable growth during 2011.

Reviewing the annual report on behalf of the Board of Directors of Oman Air during The Extraordinary General Meeting and 30^th Ordinary General meeting in Muscat, His Excellency Darwish bin Ismail bin Ali Al Balushi, Minister Responsible for Financial Affairs and Chairman of Oman Air’s Board of Directors, highlighted some of the achievements of 2011:

· 35% increase in revenue

· 16% increase, to 3.8 million, in the number of passengers

· Increase in seat factor to 73%

· 28% increase in freight revenues

· The introduction of two E175 regional jet aircraft

· Codeshare agreement with British Midland International

· Addition of two new destinations

A year of expansion and transformation

His Excellency Darwish bin Ismail Al Balushi said:

“2011 was a year of both change and consolidation for Oman Air. We have continued our programme of rapid expansion, introduced new aircraft and further enhanced the quality of our products and services. We have also invested in training, agreed a number of partnerships and joint ventures and taken a series of measures to improve efficiency. Each of these steps has been taken with two key aims in mind: to ensure the best possible passenger experience for our customers and to improve profitability in the long run.


Significant operational results

“The results speak for themselves. The number of passengers carried by Oman Air increased by 16 per cent in 2011, against a global increase in demand of just 5.9 per cent, and despite our increased capacity, seat factors increased by 0.5 per cent to 72.7 per cent. We also served over half a million more meals than in the previous year, a 13 per cent increase. Being the service provider in Muscat International Airport, Oman Air handled 6.5 million passengers along with 34,555 flights. There was also an increase in the number of Oman Air flights carried out in 2011, bringing it to 17,780 round trips.

Justified losses