Oman Air and OAMC sign joint venture with SATS
JV to develop and operate cargo facilities at Oman's airports
Oman Air and Oman Airport Management Company (OAMC) have announced their plans to start a joint venture with Singapore Airport Terminal Services Limited to develop and operate state-of-the-art cargo facilities at Oman’s current and upcoming airports.
The three companies signed a Memorandum of Understanding (MoU) at the Oman Air head office in Muscat in the second week of September.
HE Darwish Ismail Al Balushi, chairman, Oman Air, Dr. Juma Ali Juma, chairman, OAMC and Tan Chuan Lye, president and CEO, SATS signed the MoU.
Once a business plan has been developed and approved by each organisation’s board of directors, the joint venture company will be formed, with the Omani companies holding its majority stake.
While Oman Air is currently the concessionaire for cargo handling operations at Oman’s airports, OAMC is the company responsible for airport management.
SATS is a leading provider of airport handling serices in Asia, with a strong presence in Singapore and an experience of more than 60 years.
The joint venture company is expected to boost cargo movement into, out of and through the Sultanate, thereby enhancing the country’s national economy.