Royal Jordanian posts another heavy full-year loss
Royal Jordanian has turned in full-year net losses of JD74.2m ($105m), less than half the JD161m figure of the previous year. The airline transported some 1.6m passengers, double the number from 2020. This enabled it to increase revenues to JD357m. But the company’s expenditure increased at a faster rate than revenues, reaching JD370m. Royal Jordanian says it has taken “several measures to reduce costs”, including negotiating with aircraft lessors and utilising social security programmes in regards to employees’ salaries. Accumulated losses to the end of 2021, it says, reached JD321 million, representing 99% of the company’s capital. Jordan’s securities commission approved an increase in capital of JD50m for the airline in December last year. This followed authorisation for a similar previous capital raise, in two tranches of JD25mi, completed in Q4 2020 and Q2 2021.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2022-02-25/oneworld/royal-jordanian-posts-another-heavy-full-year-loss
https://portal.staralliance.com/cms/logo.png
Royal Jordanian posts another heavy full-year loss
Royal Jordanian has turned in full-year net losses of JD74.2m ($105m), less than half the JD161m figure of the previous year. The airline transported some 1.6m passengers, double the number from 2020. This enabled it to increase revenues to JD357m. But the company’s expenditure increased at a faster rate than revenues, reaching JD370m. Royal Jordanian says it has taken “several measures to reduce costs”, including negotiating with aircraft lessors and utilising social security programmes in regards to employees’ salaries. Accumulated losses to the end of 2021, it says, reached JD321 million, representing 99% of the company’s capital. Jordan’s securities commission approved an increase in capital of JD50m for the airline in December last year. This followed authorisation for a similar previous capital raise, in two tranches of JD25mi, completed in Q4 2020 and Q2 2021.<br/>
