RJ undertakes a restructuring plan- شركة الملكية اعادة الهيكلة

wtten- Recent reports state that Royal Jordanian (RJ) will seek a restructuring plan for its debt, estimated at JOD128 million. The airline’s chairman Suleiman Hafez was quoted in Jordan News Agency.

As per a review, Hafez mentioned that the airline owes JOD80 m to the Jordan Petroleum Refinery Company, JOD15 m to Airport International Group and JOD33 m to the catering company.

The airline’s current capital is JOD84 m, noting that it is lower than the price of an airplane. The chairman also mentioned about suspension of flights to several destinations in unstable regional countries such as Libya, Mosul in Iraq, Syria, Aden and Sanaa in Yemen have badly hit the airline’s revenue.

There was a consensus by members of the committee for the need to prepare an action plan to help the airline recover and return to profitability