Oman to privatise airline, telecommunications companies
"Both operations would come be part of a broader plan of privatising at least 60 companies in which the state holds an interest," he said.
As a first step, Oman Air will be broken up into three companies, one for freight, one for ground services and one for passengers.
"A decision on privatisation will be taken subsequently in light of the results at each of the companies," said Balushi, who is also chairman of the airline.
In 2012, Oman Air's loss narrowed to 97m rials (US$251.2m) from US$285m a year earlier.
Turning to Omantel, in which the government holds a 70% stake, Balushi said the plan is to offer 9.5% of its shares to Omani investors on 27 March. That would be on top of an equivalent amount sold in February.
The sale of the combined 19% of the company is expected to generate 140m rials for the public coffers.
Source: AFP via I-Net Bridge
Source: I-Net Bridge
For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.
We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.
Go to: http://www.inet.co.za
