Royal Jordanian Q3 net profit down 28% as fuel prices rise
Faced with a significant rise in fuel costs, Royal Jordanian reported a Q3 net profit decline of 28% to JD22.9m (US$32.3m) compared to the year-ago period. The carrier’s fuel bill increased 43% to JD41.3m year-over-year. To deal with fuel costs, the company has been offering “continuous sales promos,” president and CE Stefan Pichler said. The marketing efforts contributed to a 7% Q3 increase in the number of passengers carried, resulting in a two percentage point boost in load factor to 77%, he said. Revenues grew 2% YOY to JD198m, while operating costs rose by 9% to JD153m. For the first 9 months, passenger numbers grew 4%, while load factor increased from 71% to 74% YOY. The company reported a JD10.2m net profit for the 9-month period, an 87% increase. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-05/oneworld/royal-jordanian-q3-net-profit-down-28-as-fuel-prices-rise
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Royal Jordanian Q3 net profit down 28% as fuel prices rise
Faced with a significant rise in fuel costs, Royal Jordanian reported a Q3 net profit decline of 28% to JD22.9m (US$32.3m) compared to the year-ago period. The carrier’s fuel bill increased 43% to JD41.3m year-over-year. To deal with fuel costs, the company has been offering “continuous sales promos,” president and CE Stefan Pichler said. The marketing efforts contributed to a 7% Q3 increase in the number of passengers carried, resulting in a two percentage point boost in load factor to 77%, he said. Revenues grew 2% YOY to JD198m, while operating costs rose by 9% to JD153m. For the first 9 months, passenger numbers grew 4%, while load factor increased from 71% to 74% YOY. The company reported a JD10.2m net profit for the 9-month period, an 87% increase. <br/>
