Alshamel powers ahead with GCC expansion, eyeing new operations in KSA and Oman

"Alshamel will also look at strategic mergers & acquisitions with successful travel agencies to expand its market reach and customer service capacity", said Derin Cameron, Chief Executive Officer of Alshamel International Holding Company.

"Despite difficult global economic conditions and their impact on the travel-tourism sector, we see distinct opportunities in the regional marketplace and have the financial stability, history and network to act on them. The expansions and new alliances will bring us closer to our existing customers across the region and enable us to introduce the Alshamel experience to new audiences."

Cameron said.

With the expansions in Oman and Saudi Arabia, Alshamel will be present in all the countries of the Arabian Gulf. Saudi Arabia, one of the largest travel and tourism markets in the region, is a particularly promising market for the company, Cameron added.

Mazen Hamad, Senior Vice President of Alshamel International Holding Company said "the company continues to challenge the unprecedented decline in passenger traffic and other industry challenges in the wake of the slowdown".

"With our quality offerings and distinctive operational standards, we are confident of achieving improved market share and higher profits even in these new markets," Hamad added. The company, singled out by leading airlines including Emirates, Qatar Airways and Lufthansa for its 2008 sales volumes, is targeting a minimum 30% increase in market share and profits by 2012.

"Alshamel has achieved a noticeable increase in the ticket sales in the first quarter of 2009, compared to the same period in 2008," he said. "We also introduced innovative services and processes to help our consumer and corporate clients optimize their travel requirements during the downturn."

In line with its expansion strategy, Alshamel has partnered with the world's leading technology giants, such as Microsoft, Cisco and HP, to upgrade its technology architecture and centralize its services and systems across regional offices. The revamped setup furthers Alshamel's commitment to its customers, partners and internal users by offering them fast and efficient services and operations.

Alshamel International Holding Company recently announced profit distribution to shareholders through 27% cash and 124% as bonus share. The official distribution of cash profits began on Sunday, May 24, with 27% of the nominal value of shares equaling to 27 fils per share.