Royal Jordanian (RJ) registered an increase in the 2023 operating revenues by 20 percent, reaching JD733.3 million ($1 billion), compared to JD612.8 million in 2022, strengthening its resolve to achieve operational and financial growth, develop the company, and improve its performance indicators.
The passenger numbers in 2023 increased by 18percent to 3.6 million passengers, originating mainly from the US, Europe and the Levant, compared to 3 million passengers in 2022, which led to an increase in the seat load factor to 77.9 percent.
Royal Jordanian achieved net profits of JD10.8 million during the first nine months of 2023, compared to a loss of JD71.6 million for the same period in 2022, with expectations at the time that this profit would grow by the end of 2023.
However, the results of the fourth quarter of 2023 were greatly affected by the war on Gaza, which led to a decrease in the travel demand to Jordan and consequently a decrease in the company’s revenues in this quarter by about JD40 million than expected, resulting in a net loss in 2023 amounting to JD8.7 million compared to a net loss of JD78.9 million in 2022, thanks to the company’s efforts to reduce costs and control expenses to maintain the positive results and record performance that have been achieved.
The financial results for 2023 were announced at RJ’s ordinary Annual General Meeting virtually on April 29, 2024. The meeting was chaired by RJ’s Board of Directors Chairman Said Darwazeh; was attended by Vice Chairman/CEO 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.
