Mubasher: The state-owned Oman Aviation Group (OAG) is planning to hire an adviser to secure around $5 billion in finance over the coming few years.
The majority of the targeted fund will be used to purchase aircraft for Oman Air, an informed source told Reuters.
“The planned financing, spread across the next few years, would come as Oman – which is less wealthy than its oil-rich Gulf neighbours – increasingly relies on borrowing to offset a widening budget deficit caused by a slump in oil prices,” the international news agency said.
The state-owned group refused to comment on the matter.
OAG is a large entity that includes Oman Air, Oman Airports, and Oman Aviation Services.
