Royal Jordanian swings to profit in FY2012 as passenger traffic rises

Monday, Apr 01, 2013

AMMAN (Zawya Dow Jones)--Royal Jordanian Airlines swung to a profit in 2012 as it flew more passengers, the kingdom's flag carrier said.

It made a net profit of $1.6 million in the 12-month period, compared with a $81.5 million loss in 2011, RJA said in an emailed statement.

Higher passenger traffic boosted its earnings as the airline transported some 3.4 million people in 2012, compared with 3.2 million in the year before period, according to Nasser Lozi, RJA's chairman.

The company's operational revenues reached $1.12 billion in 2012, compared with $1 billion in the previous year. The fuel bill accounted for about 40%, or $408 million, of overall operational costs, RJA said.

The firm is planning to raise its capital from $119 million to $260 million, Mr. Lozi said.

Write to Hassan Hafidh at hassan.hafidh@dowjones.com

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01-04-13 0646GMT