The government of Oman has awarded the country's first Low Cost Carrier (LCC) business licence to the Muscat National Development & Investment Company (ASAAS).
Founded in 2014, ASAAS is a partnership between the State General Reserve Fund, Muscat Municipality, and various pension funds. It aims to improve Oman's quality of life through investment in projects in the tourism, education, healthcare, and logistics sectors.
“The national budget airline will provide access to economical and efficient means of transport and further advance the aviation sector in Oman," Eng Khalid bin Hilal al Yahmadi, CEO of Asaas, said. "It will naturally complement our diverse projects that will soon come on stream, including our real estate and entertainment projects to maximise impact and generate sustainable returns. The constant growth of the aviation sector in the region is what drove us to explore the sector and create value for Oman.”
Government issued a tender for the licence this past year following Oman Air's decision not to pursue its own LCC unit.
