Didn't RJ just make a huge loss after some poor fuel hedging decisions under this CEO?
From AME info: May 2009
Following a poor first quarter Royal Jordanian's net loss has almost doubled to $12 million (JD8.5m) compared to a loss of $6.2m (JD4.4m) for the same period last year.
The loss was coupled with an 11% decrease in revenues to $174.9m (JD124m) from $194.6m (JD138m). The airline cited a decline in passenger numbers and cargo tonnage.
Yield per passenger also declined by 5% in the first quarter of 2009, compared to the same period of last year, as a result of the decrease in the demand on travel and the sharp competition the airline is facing with the full-service and the low-cost carriers.
Chief executive Samer Al Majali said that RJ aircraft carried 491,000 passengers compared to 553,000 passengers carried in the first quarter of last year. This represents a load factor of 62% compared to 68% last year. Cargo tonnage also decreased by 32%.
Last edited by gilderoy lockhart; 6th Jul 2009 at 03:38.