Royal Jordanian posts 2008 financial results
Royal Jordanian has revealed its 2008 financial results and reports a positive year despite the major global challenges the airline faced.
The carrier reported a net profit of JD28.6 million, but registered a loss of JD24.6 million in the same year said Chairman of the Board of Directors Naser Lozi.
He said a decline in passenger and cargo volumes led to a 14.5% decrease in airline revenues as a result of 13 per cent drop in the rate of return caused partially by the reduction in fuel surcharge due to lower fuel prices worldwide. In addition, ticket prices slumped because of the “intense competition among airlines, regionally and internationally, and the rise of low-cost carriers in the nearby regions”.
Lozi said this year, Royal Jordanian would continue increasing the number of passengers and revenues by improving air and ground services, enhancing connectivity, and modernising the information systems in the human resources, cargo, procurement and maintenance departments, and completing the fleet modernisation plan.
At the same time, the final phase of building Royal Jordanian’s headquarters in Amman is expected to be completed by Spring next year.