Oman Air Cargo Highlights Oman’s Logistics Capabilities to Major International Air Freight Partners · Oman Air to introduce freighter aircraft · The airline will also increase cargo capacity to high-value dest inations · New cargo destinations to be launched this year · During 2022, Oman Air Cargo: o Increased cargo volumes by 36% o Increased revenue by 44% Oman Air has announced the introductio n of its first freighter by the end of 2023 , while celebrat ing outstanding 2022 results at its annual cargo workshop, under the theme 'Journey to Success'. The two-day event, which was h eld at Hormuz Grand , Muscat , brought together employees and stakeholde rs from across the company’s global network, to celebrate its accomplishments in the past year and discuss future strategies. A ttendees engaged in a series of presentations and discussions led by senior executives , as well as visiting the state-of-the-art Cargo Terminal at Muscat International Airport . An awards ceremony was also held for the top performers of 2022. During his keynote speech , Oman Air C hief E xecutive O fficer , Eng. Abdulaziz Al Raisi, stated, “I n spite of a challenging environment, Oman Air Cargo continues to deliver numbers ahead of its budget . In 2021, our revenues were 86% above targe t . In 2022, we achieved another 44% increase, exceeding our budget revenue by 37%, as well as a 3 6 % increase in the amount of cargo transported compared to t he previous year . This underscores the success of our many policies to ensure we remain ahead of the curve in an ever-changing industry and meet the growing demand for air cargo . " He added, “ In 2023, we are keeping up the momentum. In the coming months , w e look forward to introduc ing our first ever freighter and we will also be launching several new markets . This will offer exciting new opportunities for our guests and cargo alike , while continuing to unlock Oman’s potential as a global logistics hub in li ne with Oman’s 2040 Vision . ” Jaffar Al Lawati, Vice President Commercial Cargo , also said, “ The workshop was a valuable platform for us to engage with some of our most important global air cargo partners . The overall tone was one of optimism and confidenc e as we continue to tap into Oman’s strategic location as a link between East and West and posit ion Oman Air Cargo at the centre of a rapidly developing industry .” Among its notable achievements in 2022, Oman Air Cargo added several new destinations and i ntroduced its innovative ‘Cargo-in-Cabin’ service to Europe , the Far East and Indian Subcontinent . It also modified its A330-300 passenger aircraft by removing the seats, allowing it to raise capacity to 40 tonnes per aircraft . Moreover, it has improved it s services to ensure shorter acceptance and dwell time with express connections through its hub in Muscat . The award-winning logistics provider is certified by IATA CEIV for Pharma and Fresh and continues to offer high-quality products and leading service to a rapidly growing global customer base .

In the interest of financial sustainability and operational continuity, His Excellency Eng. Saeed Al Mawali, Minister of Transport, Communications and Information Technology, and Chairman of Oman Air, has announced a comprehensive programme to restructure the airline. The programme, which will be implemented over the next 3-4 years, aims to address ongoing losses and the accumulation of debt, and includes four main pillars:  financial sustainability, corporate governance, commercial aspects, and human capital. The programme is based on the recommendations of international management consulting firm, Oliver Wyman, who conducted a thorough assessment of the airline’s financial and commercial performance and presented practical measures to achieve sustainable commercial operations. In addition, Oman Air will restructure with the aim of improving its basic operational performance and enabling it to better meet the needs of the market. His Excellency indicated that the procedures for Oman Air’s radical and sustainable transformation require the use of qualified experts. In this regard, changes will be made in the current Board of Directors and Executive Management team during the coming months, ensuring the onboarding of highly qualified experts, whether local or international. On corporate governance, His Excellency said that specialised committees have been formed to reformulate governance concerned with human, financial and commercial resources, affiliated to the Board of Directors. Meanwhile, the airline’s network is being re-evaluated by international experts, and decisions will be taken on whether to continue certain destinations. Integration with Salam Air is also high on the programme’s agenda. His Excellency stressed that the upcoming steps will positively affect the quality and reliability of Oman Air’s services and expressed his thanks to the company's workforce for their contribution and efforts during the last period.