RJ seeing positive results post-pandemic, hoping for further growth

Royal Jordanian Airlines  RJ
(File photo: Jordan News)
AMMAN — The Board of Directors of Royal Jordanian Airlines, in its recent meeting, approved the company's financial results for the first half of 2023, which showed that RJ continued to record positive results in terms of operational and financial performance indicators, within the framework of the company's transformation plan in the first half of 2023 and is proceeding with its implementation vigorously.اضافة اعلان

The financial results revealed that operating profits amounted to JD7.8 million and a net profit of JD6.5 million during Q2 of 2023, compared to an operating loss of JD35.4 million and a net loss of JD41 million dinars for the same period last year.

Thus, the company was able to increase its revenues to JD192 million in the second quarter of 2023, compared to JD152 million dinars for the same period last year, with an increase rate of 26 percent, Ad-Dustour News reported.

They also witnessed an increase in the number of passengers by 7 percent, while operating costs decreased by 2 percent, down from JD188 million in the second quarter of 2022 to JD184 million.

Despite the increase in operations, fuel costs had gone down, with the decline in average fuel prices from $4.04 per US gallon to $2.76 per US gallon in the second quarter of the year. Their total fuel bill amounted to $21 million.

Bright futures
Samer Majali, the deputy chairman/CEO of Royal Jordanian, highlighted that the positive results in Q2 complemented the previously announced positive operational results from Q1. Passenger numbers rose by 25 percent to 1.7 million travelers in H1 2023 compared to 1.4 million in H1 of the previous year, and the aircraft load rates improved to 78.2 percent from 74.1 percent in the same period last year.

These improvements contributed to reducing the company's net loss to JD16.8 million during H1 2023, compared to JD70.7 million in H1 2022. He also indicated that this year is expected to exceed the rates of the year 2022 and the first half of 2023, which may lead to reaching the break-even point at the end of this year.

Read more Business
Jordan News