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FINANCIAL NEWS
Airline Royal Jordanian posts USD55m net loss in 2014
18 Mar 2015
(MENAFN) Airline Royal Jordanian (RJ) has recorded a net loss of USD55 million due to regional instability that led to suspension of flights, Reuters reported.
According to the company, the loss compares to a deficit of USD54.57 million the previous year, which was also caused by regional instability in addition to with a drop in tourism.
RJ’s growth strategy focuses on expanding flights to destinations in the region such as Iraq, Libya and Syria. But it flew to only 44 destinations last year, down from 60, mainly for security reasons.
RJ’s loss in 2014 came despite operating income rising to USD59.08 million from USD46.42 million, according to a statement issued by the Airline.
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