Oman Air seeks $80 million loan to modernize fleet
Oman Air is trying to raise $80 million from local Gulf state banks to finance a fleet modernization plant, reported AFP on Monday, April 30. General Manager Abdulrahman al Busaidy, said the company will announce within the coming two weeks, the chosen bank or consortium from among 10 groups, including foreign banks.
The airline intends to acquire five next-generation Boeing 737s—two of which will be purchased by Boeing—and three of which will be leased from International Lease Finance Corp. Delivery of the five aircraft is to take place starting in December 2001.
Oman Air was founded in 1993, and is 35 percent state-owned, with the remaining 65 percent held by the Omani private sector. Presently it owns two Airbus A320s, one Boeing 737, three Fokkers, two ATR 42s and a Twin Otter for domestic flights. — (Albawaba-MEBG)
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