Royal Jordanian Airlines claims its turnaround programme is on track after more than doubling its net profit at the nine-month mark.
Royal Jordanian Airlines claims its turnaround programme is on track after more than doubling its net profit at the nine-month mark.
The Middle Eastern carrier has disclosed a JD24.4 million ($34.4 million) profit, compared with the previous figure of JD10.2 million.
It benefited from an 8% fall in fuel costs and the carrier says it has increased fleet utilisation.
Chief executive Stefan Pichler adds that the carrier is “on the right path” towards profitability, and will post “satisfactory” full-year results.
But he cautions that the figures will “not be that substantial” given that the airline is entering the low-activity fourth quarter.
Revenues rose slightly to JD514 million while operating costs reduced by 4% to JD412 million, the company says.
Royal Jordanian’s net profit for the third quarter stayed at the same level as last year, JD22.9 million, although still down on 2017 figures.
