Oman to es­tab­lish first low-cost air­line soon

The Pak Banker - - BUSINESS -

MUS­CAT: Mus­cat Na­tional De­vel­op­ment & In­vest­ment Com­pany (Asaas) has been awarded a new air ser­vices op­er­a­tor li­cense by the Pub­lic Au­thor­ity for Civil Avi­a­tion. The ven­ture to es­tab­lish Oman's first low-cost car­rier is an­tic­i­pated to fuel eco­nomic growth un­der­pinned by strong air traf­fic de­mand, which is ex­pected to grow by 40 per cent by 2019.

Khalid bin Hi­lal Al Yah­madi, CEO of Asaas, said: "At Asaas our aim is to be­come one of the main de­vel­op­ment and in­vest­ment arms for the govern­ment and pen­sion funds in the coun­try. To that end, we have iden­ti­fied a port­fo­lio of po­ten­tial de­vel­op­ment projects for the next five to ten years across var­i­ous in­dus­tries. One of the core sec­tors is tourism and we are adopt­ing an in­te­grated ap­proach that cov­ers its en­tire sup­ply chain of which trans­porta­tion plays an in­stru­men­tal role as an en­abler for the de­vel­op­ment of the econ­omy in gen­eral and tourism in par­tic­u­lar."

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