Oman Air heads into loss despite 28pc increase in freight revenue
2012 04 18
- Details
MIDEAST carrier Oman Air had announced that rising cargo income lifted its revenue by 35 per cent last year to OMR311.3 million (US$807 million), but it still posted a year-end loss, reported the Times of Oman.
The airline blamed the loss on the spiralling cost of fuel which increased 38 per cent.
Freight revenues increased by 28 per cent year on year, and the carrier's overall capacity increased 21 per cent as it continued efforts to establish a global network.
Oman Air chairman Darwish bin Ismaiel al-Balushi, also the country's finance minister, said the carrier had bucked international trends by increasing cargo volume by 13 per cent year over year.
"As a result, cargo revenues increased by OMR4.1 million, providing an important contribution to our financial results," he added. "Our cargo operations were also enhanced by the launch in 2011 of new pan-GCC and pan-European trucking services and a new partnership with the Port of Salalah, which is resulting in new opportunities to develop the Sultanate of Oman's European freight transport market."
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