Airline Finance News - Africa / Middle East

Dec 18, 2006

Royal Jordanian

Royal Jordanian last week confirmed that the government will proceed with the announced privatization of the carrier next year. The Jordanian government will sell 74% of Royal Jordanian to the private sector and retain the balance. The shares to be sold to non-Jordanian investors will not exceed 49% in order to maintain traffic rights. Dec 17, 2006

Royal Jordanian

Royal Jordanian President and CEO Samer Majali, speaking at a press conference in Amman celebrating the airline's 43rd anniversary, conceded that he does not expect final financial results for 2006 to be as good as those of the past two years owing to high fuel prices. Yet he said he is "optimistic" the carrier will post "better results, particularly after concluding the medium-haul fleet modernization and commencing to incorporate the Embraer 195s in the fleet" in 2007. Joining oneworld early next year also will help. Majali estimated that RJ will transport around 2 million passengers this year, an 8% increase on 2005, with revenues rising 9.5% to $637 million. Dec 17, 2006

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Dec 11, 2006

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