Royal Jordanian closes US$275m loan facility

Royal Jordanian Airlines has closed its US$275m dual conventional and Islamic secured syndicated facility. The facility carries a term of 5 years. Proceeds will be primarily used to consolidate and refinance the carrier’s existing debt and further support its ongoing strategic growth and turnaround plans. “This will support the airline’s plans to carry out network expansion and fleet modernisation, particularly that Royal Jordanian will introduce more Boeing 787-8s to its fleet by the end of this year. Today 5 787s have been operating since 2014,” president and CE Suleiman Obeidat said. The carrier reported in December, that it anticipates achieving a profit in its full-year results, compared to a loss of nearly JD40m (US$55m) in 2014. The carrier turned in healthy figures for the first 9 months of the year. <br/>