Royal Jordanian reported a 17% year-on-year decline in profits in 1Q2010, to USD9.6 million, due to higher fuel prices. Fuel costs rose 15% for the period, with an average price of USD80 per barrel.
The decline in profit came despite a 21% increase in passenger numbers during the quarter. RJ reported a net profit of USD40.3 million in 2009, compared to a net loss of USD34.8 million in 2008. The carrier is targeting a 12% increase in revenue this year. Its shares rose 0.6% yesterday.
Comair was flat, while 1time Holdings' (-1.8%) shares fell. South Africa’s JSE index ended trading flat.
The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!
Selected African and Middle Eastern airlines share price movements (% change): 03-May-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.