State-run Oman Air has raised its capital by 67 percent to $1.3 billion and plans to add new destinations, while its CEO said 2010 was expected to be a difficult year for the airline and the whole industry. "Looking forward to 2010, I am under no illusion that this again will be yet another tough year for the aviation industry world-wide, and for Oman Air in particular," CEO Peter Hill said in a statement issued on Saturday.
Oman Air hiked its capital to 500 million rials ($1.3 billion) from 300 million rials and will fly to eight new destinations this year, the statement quoted Ahmad bin Abdul-Nabi Mekki, the Gulf Arab sultanate's economy minister, as saying. Hill was appointed CEO of Oman Air in 2008 after Oman withdrew from Gulf Air [GULF.UL], which it had owned jointly with Bahrain, to develop its own carrier. Oman Air launched operations in 1993.