Oman Air to continue with expansion plans in 2009, despite USD111.2 million net loss in 2008

Oman Air forecast it will continue to make losses in the medium term, following a net loss of USD111.2 million for the 12 months ended 31-Dec-09. CEO, Peter Hill stated the carrier will report losses again in 2009 due to the continuation of the global financial downturn and significant investments it plans to make during the period. [1005 words]

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This report contains the following subheadings:

• Receives USD650 million in government funding
• Plans to grow tourism by 400% by 2012
• Plans to increase capacity by 27% in 2009
• Continuing to expand internationally
• Joins IATP

This report contains the following charts and tables:

• Oman Air financial highlights for 12 months ended 31-Dec-09
• Oman Air Passenger Traffic and Percentage Growth: 2004-2008
• Oman Air Route Network: May-09