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Monday, 22 March 2010 13:25 UAE time

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Oman Aviation Services asks for State cash

by Rob Corder on Tuesday, 06 February 2007

Oman Aviation Services (OAS), parent firm of Oman Air, said on Tuesday it wants to raise its capital 276.5 percent to 50 million rials ($129.9 million) by offering shares to the government.

The plan requires the approval of an extra-ordinary general assembly, which will be held on February 28, OAS said in a statement posted on bourse Web site.
Oman government hold 34 percent stake in OAC.
The bourse regulator, the Capital Market Authority (CMA), suspended OAS shares on Sunday after the firm failed to report its capital hike plan.

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