Oman Air and OAMC in joint venture agreement with SATS

In view of this initiative, Oman Air, the concessionaire for Cargo handling operations at the airports in Oman, and Oman Airport Management Company (OAMC), the company responsible for airport management and operations, are entering into a strategic joint venture with a world renowned cargo operator M/s Singapore Airport Terminal Services Limited (SATS) to develop and operate state-of-the-art cargo facilities in present locations, as well as at new airports. 

Oman Air, OAMC and SATS signed the Memorandum of Understanding (MOU) on 12th September 2013 at Oman Air Head Office in Muscat. Senior Management and Board Members of Oman Air, OAMC and SATS were present at the signing ceremony. HE Darwish Ismail Al Balushi, the Chairman of Oman Air, Dr Juma Ali Juma, the Chairman of OAMC, and Mr Tan Chuan Lye, President and Chief Executive Officer of SATS, signed the MOU. As a next step, all parties will carry out due diligence and develop a business plan for the joint venture. On approval of the business plan by respective Boards of Directors, the joint venture company will be formed. Omani companies will hold a majority stake in the joint venture.