Oman Air 's financial results for 2015 saw a major reduction of 42% in the loss per passenger, largely due to changes in fuel prices. The government's financial support for Oman Air was reduced from OMR130m in 2014 to OMR54 million in 2015 and further to OMR35 million in 2016. Paul Gregorowitsch, CEO, Oman Air , said: "A further 45% reduction in the loss per passenger will be achieved this year and predicted the airline to reach an operational break even result by the end of 2017." He said there are no plans for privatisation as the airline is still making losses. "It cannot be an attractive proposition for buyers now and will have to wait and see from 2018 onwards, if there are one or two straight profit-making years." Oman Air 's fleet and network expansion programme, which was launched in the fourth quarter of 2014, will continue in 2016.   The airline's operating loss has come down by OMR23 million (21 per cent) to OMR86 million in 2015 from OMR109 million in 2014. The passenger traffic has also seen an increase of 26% to 6.4 million while the cargo sector has seen 30% growth in tonnage. For 2016, the loss is expected to be down 42% to OMR50 million on a YOY basis. Passenger traffic is set to increase by 14.1% and cargo growth by 50% this year. (Oman observer)