Muscat: Oman Air, the Sultanate's national carrier, has posted a net profit of 1.1 million Omani riyals for 2005 against 828,000 riyals in 2004.
The total revenues reached 75.89 million riyals in 2005, up from 65.64 million riyals in the previous year. However, the financial results have not yet been audited.
"In spite of the fierce competition in the aviation sector as a result of emergence of new airlines in the region and a marked increase in fuel prices, Oman Air continued to achieve profit," said a press release from the airline.
"This ensures the successful implementation of the policies and strategies approved by the board of directors, endeavour to provide full support to the company," said Ziad Al Haremi, acting chief executive of Oman Air.
He added that 2005 was unique for Oman Air, since it commenced international operation in March 20, 1993, as the company has achieved numerous accomplishments in all spheres.
The most significant is the growth of passengers by 15.4 per cent from 984,000 in 2004 to 1,135,450 in 2005.
As a result, seat factor was increased to 75 per cent from 69 per cent. On the contrary, time performance and technical reliability of planes recorded 99.6 per cent, which is considered even higher than the global standard of 97 per cent.
With the sixth jet, which joined the fleet at the beginning of 2005, all the flights were rescheduled, to increase the capacity of sectors witnessing increasing traffic.
