Royal Jordanian reports USD2.1m net profit in Jun-2017 but still at a loss in 1H2017

Royal Jordanian reported (28-Jul-2017) a net profit of JOD1.5 million (USD2.1 million) in Jun-2017, compared to a net loss of JOD2.1 million (USD3.0 million) in Jun-2016. The carrier reported the Jun-2017 net profit despite a 27% year-on-year increase in fuel costs to JOD10.5 million (USD14.7 million). Passengers increased 13% to 253,000 and load factor increased 3.9ppts to 64.1%. Accumulated 1H2017 net loss reached JD26.3 million (USD37.0 million), driven by seasonality and a decline in the average fare. Revenue fell 1% despite a 6% increase in passengers and a 6ppts increase in load factor to 68%. Operating costs increased 3% due to a 15% increase in fuel costs. [more - original PR]

*Based on the average conversion rate at JOD1 = USD1.405499 for 1H2017
*Based on the average conversion rate at JOD1 = USD1.404141 for Jun-2017