ROYAL JORDANIAN’S (RJ) net operating profit was up 47 per cent, as 73.8 per cent record load factor compensated for 28 per cent higher fuel price in 2018.
Showing continued progress in RJ’s performance since the second half of 2017, net operating profit in 2018 rose by JD6 million ($8.4 million) to JD19 million ($26.7 million), registering 47 per cent growth as opposed to the previous year.
This was accomplished despite a 7 per cent rise in total operating costs led by a 28 per cent increase in average fuel price compared to 2017, which settled the bill at JD159.3 million ($224.6 million) - JD38 million ($53.5 million) higher than 2017 (up 31 per cent).
Fuel cost currently constitutes 25 per cent of overall costs, which is one of the highest expenses for airlines. However, RJ has succeeded in boosting gross profit by JD11 million ($15.5 million).
RJ president and CEO, Stefan Pichler, commended staff members, stating, “On this occasion, I would like to congratulate all our staff members for their continuous efforts, which led to an exceptional positive operating result. Together, working as a team, we were able to overcome all major challenges, and with this attitude, we will move our beloved Royal Jordanian to the next level.”
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