Oman government has completed the 90% stake in SalamAir from Muscat National Development and Investment Company.
The SalamAir brand is set to remain separate from the country's flag carrier Oman Air.
The takeover will allow for both airlines to coordinate their networks and fleet, thus minimising overlap. Additionally, the government said this acquisition is expected to improve the financial position of the airlines.
“The government of the Sultanate of Oman has announced the successful completion of its acquisition of SalamAir,” said SalamAir CFO Olcay Turker. “A new journey begins.”
SalamAir operates an all Airbus narrowbody fleet, while Oman Air has an all-Boeing fleet, including 737s and 787s.