A comprehensive program to restructure Oman Air has been announced and will be implemented over the next three to four years.
The program, announced by Eng Saeed Al Mawali, Minister of Transport, Communications and Information Technology, and Chairman of Oman Air, aims to address ongoing losses and the accumulation of debt, and includes four main pillars:Â financial sustainability, corporate governance, commercial aspects, and human capital.
Meanwhile, the airline’s network is being re-evaluated by international experts and decisions will be taken on whether to continue certain destinations. Integration with Salam Air is also high on the program’s agenda, a statement said.
The restructure program is based on the recommendations of international management consulting firm, Oliver Wyman, who conducted a thorough assessment of the airline’s financial and commercial performance and presented practical measures to achieve sustainable commercial operations, it said.
In addition, the restructure will also aim at improving the airline’s basic operational performance and enabling it to better meet the needs of the market.
Eng Al Mawali said Oman Air’s radical and sustainable transformation requires the use of qualified experts. In this regard, changes will be made in the current Board of Directors and Executive Management team during the coming months, ensuring the onboarding of highly qualified experts, whether local or international.
On corporate governance, he said specialized committees have been formed to reformulate governance concerned with human, financial and commercial resources, affiliated to the board of directors.
Eng Al Mawali stressed that the upcoming measures will have a positive impact on the quality and reliability of Oman Air’s services and expressed his thanks to the company’s workforce for their contribution and efforts during the last period.
