Mike King, Special Correspondent | Apr 10, 2012 8:48AM EDT
Rising cargo income saw Oman Air’s total revenue jump 35 percent last year to OMR311.3 million ($807 million), but the Middle East still posted a year-end loss.
The airline blamed the loss on the spiralling cost of fuel which increased 38 percent.
Freight revenues increased by 28 percent year-over-year, and the carrier’s overall capacity increased by 21 percent, as it continued its efforts to establish a global network.
Darwish bin Ismaiel al-Balushi, Minister Responsible for Financial Affairs and Chairman of Oman Air's Board of Directors, said Oman Air had bucked international trends by increasing cargo flown by 13 percent year-over-year.
“As a result, cargo revenues increased by (RO 4.1) 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.”
Contact Mike King at michael@borderline.eu.com.