Oman on its way to acquire first low-cost carrier

Marking the start of a new era for Oman’s aviation industry, Muscat National Development & Investment Company (ASAAS) recently acquired a new air services operator license from the Public Authority for Civil Aviation for the establishment of the country’s inaugural low-cost carrier.

This move is expected to stimulate economic growth, supported by the strong demand for flights. Air traffic is forecasted to grow by 40 per cent by 2019.

CEO, ASAAS, Eng. Khalid bin Hilal Al Yahmadi commented: “At ASAAS our aim is to become one of the main development and investment arms for the government and pension funds in the country. To that end, we have identified a portfolio of potential development projects for the next five to 10 years across various industries. One of the core sectors is tourism and we are adopting an integrated approach that covers its entire supply chain of which transportation plays an instrumental role as an enabler for the development of the economy in general and tourism in particular.”

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Al Yahmadi continued: “The national budget airline will provide access to economical and efficient means of transport and further advance the aviation sector in Oman. It will naturally complement our diverse projects that will soon come on stream, including our real estate and entertainment projects to maximise impact and generate sustainable returns. The constant growth of the aviation sector in the region is what drove us to explore the sector and create value for Oman. ”