State-backed Oman Air is reportedly close to breaking even this year and may post its first profit next year. “We are going to hit our transformation target for 2025, which means that we should end the year significantly closer to being a breakeven company,” the airline’s chief commercial officer Mike Rutter told the Oman Daily […]State-backed Oman Air is reportedly close to breaking even this year and may post its first profit next year. “We are going to hit our transformation target for 2025, which means that we should end the year significantly closer to being a breakeven company,” the airline’s chief commercial officer Mike Rutter told the Oman Daily […]
Oman Air close to breakeven in 2025
State-backed Oman Air is reportedly close to breaking even this year and may post its first profit next year.
“We are going to hit our transformation target for 2025, which means that we should end the year significantly closer to being a breakeven company,” the airline’s chief commercial officer Mike Rutter told the Oman Daily Observer.
He said the airline’s goal in 2026 is to achieve its first-ever profit, according to the newspaper.
In October the airline laid off 1,100 staff, reducing its workforce from around 4,300 to just under 3,200.
As part of cost-saving measures, the airline disposed of its entire A330 fleet of 10 aircraft and sold two Boeing 787-8s.
In August 2023, Oman Air announced restructuring plans to reduce ongoing losses and debt accumulation. It cancelled flights to some South Asian cities in January 2024 to improve its financial performance and strengthen its position in a competitive market.
Further reading:
- The quiet rise of Middle East low-cost carriers
- Why some global airlines are abandoning the Middle East
- Narrow-body aircraft to push growth of Middle East fleets
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