Oman Air (WY, Muscat) is planning to launch both a low-cost carrier and a cargo airline in the wake of a massive USD253million loss posted for its 2012 Financial Year. According to Oman Air chairman Darwish bin Ismail Al Balushi, the Omani Government, Oman Air's sole shareholder, has agreed "in principle" to the proposal, with a feasibility study now underway. Al Balushi is quoted as saying that while passenger numbers and revenue in fact rose 21% on 2011 with cargo performing especially well posting a 29% growth, losses accrued mainly due to the Omani national carrier's acquisition of new aircraft.