Oman Air and Oman Airports dissolve Boards of Directors

Muscat: The Board of Directors of Oman Air and Oman Airports held their first meetings after new formations and made strategic decisions regarding financial sustainability and governance of the two companies.

The general assemblies of "Oman Air" and "Oman Airports Company" dissolved the current boards of directors, and agreed to elect new boards of directors for the two associations.

 In a related context, on Saturday, the new Board of Directors of Oman Air and Oman Airports Company, chaired by His Excellency Engineer Saeed bin Hamoud Al-Ma’awali, Minister of Transport, Communications and Information Technology, Chairman of the Board, held two meetings for the two companies separately.

During the meetings, he approved the new organizational structure of Oman Air and the new committees of the Board of Directors, and appointed a vice-chairman of the company’s board of directors.

The minister also approved the executive steps of the company’s financial sustainability program, stressing the importance of implementing the program according to a comprehensive reform vision of commercial rules and foundations and corporate governance with human capital.

The Board of Directors reviewed the strategy of the "Oman Airports" company for the next five years.

It also discussed the company's financial accounts for the first half of the current year. It approved the formation of new committees for the company's board of directors, and appointed a vice-chairman of the company's board.

 His Excellency Eng. Saeed bin Hamoud Al-Maawali, Minister of Transport, Communications and Information Technology, stressed the concerted efforts during the next stage to enhance the capabilities of the civil aviation sector companies in line with the government’s directives that focus on maximizing investment returns, achieving local added value, and achieving financial sustainability in the sector.