My Account Menu

CAPA Login

Register to trial CAPA Membership!

Royal Jordanian reports 13.9% year-on-year rise in revenue; Lonrho to launch Angolan hub


Royal Jordanian's shares remained stable on Thursday (29-Jul-2010). On the same day, the carrier released its financial/traffic highlights for the 12 months ended Jun-2010 with a 13.9% year-on-year rise in revenue to USD441.8 million and a net loss of USD10.2 million, compared to a net profit of USD10.9 million in the previous corresponding period.

See related CAPA profile: Financial results

Lonrho (-6.3%), parent company of Fly540, reported its financial highlights in the three months ended Jun-2010, the company's traditionally weakest quarter, with overall revenue of GBP26.8 million, a 44.6% year-on-year increase, while its Fly540 subsidiary reported GBP4.8 million in revenue, a 23% year-on-year rise.

Fly540 also announced its first flight from its Angolan hub is scheduled for 15-Aug-2010. The company commented: "Whilst being delayed from the company's planned start date, this flight will represent a step change in the trajectory of the Fly540 network into a domestic and regional market that is seeing an economic boom and is chronically underserviced presently.”

African shares were mixed, with Comair (-2%) down while Kenya Airways (+0.6%) and 1time (+3.9%) rose slightly.

Selected African and Middle Eastern airlines share price movements (% change): 29-Jul-2010

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.