Oman Air and Oman Airport Management Company (OAMC) have entered into a joint venture agreement with Singapore Airport Terminal Services (SATS) to develop and operate cargo facilities in the Sultanate’s airports.

The three entities recently signed a Memorandum of Understanding (MOU) at Oman Air head office in Muscat.

Darwish Ismail Al Balushi, chairman of Oman Air, Dr Juma Ali Juma, chairman of OAMC and 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 Board of Directors, the joint venture company will be formed. Omani companies will hold majority stake in the joint venture.

SATS is a leading provider of airport handling services in Asia with more than 60 years of experience. Besides strong presence in Singapore, they also have partnered in 20 joint ventures at 36 airports. Of these, six joint ventures are in cargo operations.

SATS is expected to bring in the required management and technical knowhow to the joint venture, which will include air as well as high potential road-to-air and sea-to-air cargo movement. – TradeArabia News Service