RJ revenues up 71 per cent in 2022

AMMAN — Royal Jordanian (RJ) airline’s revenues increased by 71 per cent in 2022, reaching JD611.8 million compared with JD357 million in 2021.

According to a RJ statement, citied by the Jordan News Agency, Petra, on Thursday, the revenue growth was propelled by a 91 per cent year-over-year increase in passenger volume, which amounted to three million in 2022, compared with 1.6 million in 2021.

The passenger occupancy rate increased to 77 per cent last year from 68 per cent in 2021, according to the company’s preliminary financial data for 2022, indicating an improvement in its operational performance indicators.

The number of flight hours and take-offs increased by 60 per cent, according to the data, which also showed that the number of stations increased from 32 in 2021 to 48 in 2022 after stations that had been shut down during the Coronavirus pandemic were reopened and new stations were added.

According to the company, its net loss in 2022 was JD79.1 million, up from a loss of JD74.3 million in 2021. This was due, in large part, to a 69 per cent increase in fuel prices in 2022, which resulted in an oil bill increase of JD97.8 million. In 2022, fuel costs made up 50 per cent of variable operating costs, up from 37 per cent in 2021.

Vice Chairman and CEO of the company Samer Majali expressed confidence that RJ would continue to attract more customers and increase its market share as a result of the airline’s recent service upgrades, network adaptability, new station openings and increased flight frequency to a variety of destinations.

Majali said the company is moving forward with its plans to upgrade its fleet for short, medium and long-haul routes, noting that new aircraft will be introduced by the end of the year.