Oman seeks to raise US$6b for aviation industry expansion
Oman Aviation Group is seeking about US$6b to fund the building of new airports and an expansion of the loss-making national airline. The state-owned holding company plans to raise the funds through a sale of assets or by taking on more debt, CE Mustafa Al Hinai said Tuesday. The firm is in talks with international banks for a multi-tranche loan starting June 2020, he said, while a privatisation plan is likely to take as many as 3 years to put together. Oman’s finances have been battered by a slump in oil prices. Investment in the aviation industry would help the govt develop tourism as a greater contributor to the economy, but credit rating agencies say much is yet to be done. Oman Air, which receives state support to fund loss-making internal routes, is expected to make a profit in 2026, said Al Hinai. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-04-24/unaligned/oman-seeks-to-raise-us-6b-for-aviation-industry-expansion
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Oman seeks to raise US$6b for aviation industry expansion
Oman Aviation Group is seeking about US$6b to fund the building of new airports and an expansion of the loss-making national airline. The state-owned holding company plans to raise the funds through a sale of assets or by taking on more debt, CE Mustafa Al Hinai said Tuesday. The firm is in talks with international banks for a multi-tranche loan starting June 2020, he said, while a privatisation plan is likely to take as many as 3 years to put together. Oman’s finances have been battered by a slump in oil prices. Investment in the aviation industry would help the govt develop tourism as a greater contributor to the economy, but credit rating agencies say much is yet to be done. Oman Air, which receives state support to fund loss-making internal routes, is expected to make a profit in 2026, said Al Hinai. <br/>
