Royal Jordanian has released its latest financial figures for the first nine months of 2019.
During the period, net profits stood at JD24.4 million after tax, compared to JD10.2 million experienced in the same period of 2018, marking a 139% increase.
Operating revenues for the same period also went up, from JD510 million in 2018 to JD514 million this year, a 1% increase, while the operating cost decreased by 4%, from JD430 million in the first nine months of 2018 to JD412 million in the same period this year.
As a result, the gross profit recorded by the company in the first nine months of this year increased by 28%, from JD80 million in 2018 to JD102 million this year.
RJ president and CEO Stefan Pichler said: “The company has continued to post positive financial and operational results in 2019 due to the turnaround plan, launched in the last quarter of 2017, which we are implementing and which aims at enhancing RJ’s financial and operational performance, as well as raising the standard of services we offer our guests.
"All is done following a clear plan supported by the Board of Directors, a plan that set the ambitious goal of enhancing RJ’s presence and competitiveness regionally and globally, and strengthening its strategic role as the national carrier and a bridge connecting Jordan and the Levant with the world.”
Pichler added that RJ posted a net profit of JD1.5 million in the first half of 2019 and registered a net profit of JD22.9 million after tax in the third quarter of this year, bringing the net profit for the first nine months of 2019 to JD24.4 million.
The airline had a 74% seat load factor for the first nine months of 2019, and fleet utilisation grew from 12.2 to 12.6 hours per day, a 3% increase. On time performance increased by 2% from 76.4% to 77.8% in the comparison period.