Image: Oman Air
Saeed Al Mawali, Minister of Transport, Communications and Information Technology, and chairman of Oman Air, has announced a comprehensive programme to restructure the airline.
The programme, which will be implemented over the next three-four years, aims to address ongoing losses and the accumulation of debt, and includes four main pillars: financial sustainability, corporate governance, commercial aspects, and human capital.
The programme 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. In addition, Oman Air will restructure with the aim of improving its basic operational performance and enabling it to better meet the needs of the market.
Oman Air’s radical and sustainable transformation
Al Mawali indicated that the procedures for Oman Air’s radical and sustainable transformation require 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 on-boarding of highly qualified experts, whether local or international.
On corporate governance, Al Mawali said that specialised committees have been formed to reformulate governance concerned with human, financial and commercial resources, affiliated to the Board of Directors.
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 programme’s agenda.
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