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FINANCIAL NEWS
Royal Jordanian reports USD1.6m profit in 2012
31 Mar 2013
(MENAFN) Royal Jordanian announced that it managed to return to profitability in 2012, with a USD1.6 million net income, compared with a USD81.46-million loss in the previous year, reported Arabian Business.
Chairman of the Kingdom’s national airline, Nasser Lozi, attributed the results to higher passenger traffic and less costs.
Lozi noted that passenger numbers rose by 6 percent from 2011, reaching 3.4 million, whereas the seat factor grew from 70 percent to 73 percent.
Meanwhile, 2012 revenue reached USD1.12 billion, representing a gain of 9 percent from the USD1.03 million recorded a year before.
The firm, which plans to raise capital from USD118.61 million to USD259.32 million, said that fuel prices cost the carrier USD408 million in 2012, that’s 40 percent of its operational costs.
It is worth noting that Royal Jordanian was established in 1963 and went public in 2007.
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