Affected by the Covid crisis like all the companies in the world, the national carrier Oman Air is, however, finding it more difficult than others in the region to return to a sound financial structure.
The company continues to accumulate losses, even though they are decreasing from one year to the next. In 2022, Oman Air had already reduced its losses by 35% compared with 2020. In 2023, its losses fell by a further 25% compared with the previous year, Saeed Al Mawali, Minister of Transport, Communications and Information Technology and Chairman of Oman Air, indicating that the company should return to profit in 2026.
This objective obviously requires adjustments to the fleet and the network. According to the Chairman, Oman Air must have a fleet that is adapted to demand and ensure that 60% of the network's lines are profitable.
The wide-body fleet halved
Also, all the Airbus A330s, which have an average age of over 13 years, will leave the fleet in March. This has several consequences. Oman Air's wide-body fleet will be halved to just 9 Boeing 787-8 or -9 aircraft. Three other Boeing 787-9s have been ordered but their delivery has been delayed. They should join the fleet around 2025/2026.
The other consequence is the transfer of several intercontinental routes to single-aisle aircraft, in this case the Boeing 737-8MAX. With a less comfort in business class since the seats, although wider, are not couchettes. The line Munich-Muscat is involved by this change. On the other hand, Paris-CDG keeps its Boeing 787 services, but with only four flights a week for the summer season.
Still in Europe, Zurich is also sacrificed. The Swiss stopover will now only see Oman Air aircraft in winter season.
Several destinations are disappearing company timetables from March. Oman Air suspends flights on Colombo, Islamabad, Lahore and Chittagong. The route to the Maldives (Malé) is also becoming seasonal, in winter. On the other hand, the carrier inaugurates flights to Sialkot (Pakistan)a major industrial town.
To compensate for the reduction in stopovers and routes, Oman Air will therefore have to strengthen its partnerships with other carriers. The carrier must always join the Oneworld alliance this year. She already has a a very active partnership with Qatar Airways on many routes. For the time being, the Qatari carrier is proving to be the big winner from Oman Air's difficulties...
