Oman Air reports 40% growth in EBIT, 92% on-time performance in 2024

Muscat : The airline achieved a 40 percent increase in EBIT compared to 2019, driven by a comprehensive strategy focused on financial sustainability and commercial viability.
The airline’s transformation, which began in 2023 and fully took shape in 2024, focused on increasing service to profitable destinations, modernising the fleet, and streamlining operations. These efforts have resulted in a 40 percent improvement in EBITDA over 2023, bringing the total to RO 24 million. This allowed the company to settle long overdue payables totalling RO 45 million in 2024 without resorting to borrowing.

Overall revenue quality was significantly enhanced, thanks to the comprehensive study undertaken to modernise the fleet and network, emphasizing the focus on point-to-point traffic, which accounted for 40 percent of total revenue in 2024, up from 27 percent in 2019. This shift not only boosted Oman Air’s revenue quality but also contributed to the growth of Oman’s tourism sector, aligning with the country’s broader economic goals.

On-Time Performance
Oman Air continued to uphold its high operational standards in 2024, achieving an outstanding 92 percent on-time performance (OTP), placing it among the top two airlines in the Middle East and Africa (MEA) for OTP.

Omanisation
As part of its organisational restructuring, Oman Air reduced its workforce by 24 percent, generating annual financial savings of RO 18 million. At the same time, the airline remained committed to increasing Omanisation, achieving a 79 percent Omanisation rate in 2024, up from 74 percent the previous year. The company has also supported its staff with voluntary resignation packages and job placement assistance within the aviation sector. By the end of Q2 2025, Oman Air anticipates increasing the Omanisation rate to 81 percent.

Passenger Growth
Oman Air’s commercial performance remained strong despite a 29 percent reduction in fleet size compared to 2023. The airline’s point-to-point share grew to 40 percent, a 49 percent increase from 2019, and an 18 percent increase from 2023. The load factor improved by 1 percent to 75 percent despite a 13 percent decrease in passengers flown due to the reduced fleet. The airline’s focus on enhancing the proportion of tourist arrivals, as opposed to transit traffic, contributed positively to Oman’s economic objectives.

Fleet Modernization
Oman Air remains committed to modernizing its fleet, with plans to introduce 13 new aircraft in the coming years, including four Boeing 737 MAX and two Boeing 787-9 aircraft in 2025. These new-generation aircraft will further reduce operating costs and enhance the airline’s sustainability.
Oman Air remains committed to its long-term sustainability and continues to work towards its financial and operational goals. The airline expressed gratitude to its teams, partners, guests, and all stakeholders for their continued support.