Royal Jordanian is claiming progress in its effort to restore financial stability, after turning in a full-year operating profit of JD11.8 million ($16.6 million) and reducing net losses.
Its net loss fell from JD8.7 million to JD3.5 million.
The carrier suffered from the impact of the Gaza conflict, and its subsequent extension to Lebanon, as well as broader economic issues.
Chief executive Samer Majali, during the company’s annual general meeting on 27 April, said the financial results “reaffirm the soundness” of its approach to addressing its challenges.
Majali says the company remains committed to cost restructuring, revenue diversification, network expansion and the development of air freight operations.
The carrier is aiming for a fleet of 41 aircraft by 2028.
Last year it received five Embraer E2 models, and will take 14 new Airbus jets – as well as two more E2s – between June and December this year.
Revenues for the company increased to 745.6 million as passenger numbers rose by 4%, and the carrier introduced services to London Stansted, Manchester, Berlin, Moscow and Tripoli.
Royal Jordanian underwent a financial restructuring in 2023. The company’s accumulated losses, at the end of 2024, represent 55% of its paid-in capital, while its current liabilities exceeded its current assets.
It says it is working to complete the “final stages” of obtaining a new syndicated loan of JD177 million, an agreement expected to be concluded during the second quarter of this year.
This loan will repay the outstanding balance of its current syndicated loan, as well as finance investment projects and the purchase of aircraft.
