Proposal to make OASC closely held firm cleared

MUSCAT — Shareholders of Oman Aviation Services Company (OASC), the parent company of Oman Air, gave the go-ahead for a proposal to convert it into a closely held company (SAOC) from a public listed company at their EGM here yesterday.

By Our Correspondent

Published: Thu 31 May 2007, 8:40 AM

Last updated: Sat 4 Apr 2015, 8:39 PM

Chairman Said bin Hamdoon Al Harthy said the change in the legal status was in compliance with the government's plans to develop Oman Air, improve its performance, launch new stations and provide it with new aircraft.

He added the government would appoint a consultancy company to study the company's new status and identify its future needs. The move, he further said, was in the "general interest of the Omani economy" and the company's shareholders "in terms of attracting more tourists to the Sultanate and providing passengers in the Sultanate with easy and convenient travel options."

Another EGM will be held soon to change clauses of the company's article of association, elect a new board of directors and select a representative of the private sector on the board.

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