RJ holds virtual ordinary, extraordinary annual general meeting, issues 2024 financial results

AMMAN — Royal Jordanian Airline (RJ) on Sunday held its ordinary and extraordinary annual general meeting virtually.

The meeting chaired by RJ’s Board of Directors Chairman Said Darwazeh; was attended by Vice Chairman/CEO (Designated) Samer Majali, RJ board members, Companies’ General Controller Deputy, representatives of the Government Investments Management Company, RJ accounts auditor Ernst and Young and some shareholders and RJ employees.

The AGM discussed the board’s report on the financial results of 2024 and the business plan for 2025, as well as the auditors’ report, budget, and profits and losses. The General Assembly members approved all the discussed articles, according to a statement for The Jordan Times.

Addressing the shareholders, Darwazeh highlighted RJ’s steady progress throughout 2024 toward achieving its strategic goals, despite the significant challenges posed by regional and international conditions, most notably the repercussions of the war on Gaza and Lebanon, as well as the political and economic fluctuations that have directly impacted the air transport sector and travel to and from Jordan.

He also pointed out the “pivotal” role to connect Jordan with the world, serving as a stable and reliable bridge amid instability, particularly in light of the war on Gaza and its extension into Lebanon.

Its continued operations during such turbulent times echo the airline’s resilience during past crises, including the air blockade on Iraq and the COVID-19 pandemic, when many international carriers suspended their operations, whereas Royal Jordanian continued to fulfil its national duty—maintaining connectivity and serving passengers through the most challenging circumstances.

CEO Samer Majali said that the company attained operational and financial growth in 2024, along with improved performance indicators.

The airline registered a growth in revenues and operating profit, whilst it reduces losses. The company's revenues in 2024 went up to JD745.6 million, compared to the revenues of 2023, which amounted to JD733.2 million, the said.

The company recorded an operating profit of JD11.8 million in 2024, against JD3.2 million in 2023 – an increase of over 260 per cent. Royal Jordanian also reduced its post-tax losses to JD3.5 million in 2024, down from JD8.7 million the previous year, reflecting a 59 per cent decline in losses, he added.

These positive indicators reflect the results of sustained efforts to control costs, enhance performance efficiency, and strengthen operational flexibility amid highly complex regional conditions.

Majali added that Royal Jordanian has enhanced operational performance and achieved further growth and excellence; 2024 witnessed many positive indicators mirroring its continued progress.

“Royal Jordanian successfully transported 3.7 million passengers in 2024, recording a 4 per cent increase over 2023,” the CEO said.

He added that the company has maintained an excellent level of on-time performance, with high commitment and adherence to the scheduled departures within 15 minutes, reaching 88 per cent since the beginning of the year.

On the network level, RJ introduced direct flights to significant destinations, including London Stansted, Manchester, Moscow, Berlin and Tripoli. The route network expansion coincides with the company’s fleet modernization project.

He stated that the financial results achieved this year reaffirm the soundness of the company’s approach in addressing challenges and restoring financial stability.

He stressed the company's commitment to continuing the implementation of integrated reform plans, which include cost restructuring, revenue diversification, network expansion, the development of air cargo operations, and investment in support units.

A particular focus is also placed on the human element, by qualifying national talent through comprehensive training and institutional programmes. The fleet growth plan of 41 aircraft by 2028 is supported by a clear strategy to ensure the readiness of qualified human resources, aligned with the requirements of the Civil Aviation Regulatory Commission, the statement said.

This strategy strengthens the company’s ability to meet expansion needs efficiently and competently, while reaffirming its commitment to social responsibility and sustainability within the aviation sector, Majali noted.

He stressed that these efforts — driven by commitment, discipline, and a clear vision —lead the company to achieve its strategic objectives, reinforce shareholder confidence, and solidify the carrier’s position as a leading national carrier in the regional air transport sector.