Royal Jordanian reports bumper third-quarter profit

Royal Jordanian reported a JOD25.5 million ($35.7 million) profit through the first nine months of 2009, reversed from a JOD3.8 million loss in the year-ago period, implying third-quarter earnings of approximately JOD17.8 million (ATWOnline, July 30). It posted a profit of some JOD200,000 in the third quarter of 2008. Operating revenue through the nine-month period fell 16% year-over-year to JOD449 million, but fuel costs plunged 50% and "operational costs" dropped 20% on a 4% cut in capacity. Passenger numbers were down 3%, RJ said, load factor declined 8 points to 67% and yield fell 14% to JOD185.

Originally published 29 Oct 2009 at: http://feeds.atwonline.com/~r/AtwDailyNews/~3/weM0PLWjdJ0/story.html