Royal Jordanian secures USD 250 mn loan: Jordan’s flagship carrier Royal Jordanian has signed a USD 250 mn (c. JOD 177 mn) syndicated loan agreement with a consortium led by Arab Bank and including several regional and local banks, the Jordanian News Agency (Petra) reported last week. The debt’s tenor and yield have not been disclosed.

Where would the money go? The carrier aims to funnel the financing into fleet modernization and its network expansion, Vice Chairman and CEO of Royal Jordanian Samer Majali was quoted as saying. The firm also plans to invest in aviation support companies and digital transformation, as well as repay the remaining balance of its current debt, Majali said.

Big picture plans: Royal Jordanian is planning to implement company-wide reforms, including cost restructuring, revenue diversification, the development of air cargo operations, and investment in support units, according to its latest earnings release. The carrier plans to expand its fleet to 41 aircraft by 2028, the release said.

2024 performance: The airline saw its after-tax losses drop 59% y-o-y, reaching JOD 3.5 mn in FY 2024, whereas revenues increased 1.7%, reaching JOD 745.6 mn in the same period.

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