Originally Posted by
plunet
What I have seen is spread across various comments, the underlying growth in passenger numbers was positive when last reported but the regional war hadn't had the chance to impact those figures and RJ have publicly stated that they expect a tough time in their last quarter with downturn in bookings and higher costs due to needing to avoid airspace.
There's a pattern of short notice cancellations of flights, probably because they're not full enough to make a profit, inflexibility to handle rebooking because RJ agents do not have scope to be flexible, and just being horrible when dealing with cases when they should be refunding passengers, there's a few examples up thread, including a UK national newspaper troubleshooter that couldn't even persuade RJ to refund a passenger the money to which they were entitled.
So no major alarm bells, and not as serious as it was during the pandemic, but a challenging time nevertheless.
...apologies for the late response. I appreciate your viewpoints re this. Agreed - this is nothing compared to the virus crisis.
Most recently, I flew with RJ in March. I tend to like them. Anyways...
FY 2023 financials are now out - and also 1Q 2024 numbers in Arabic.
Annual Report Financial Statement - Royal Jordanian (rj.com)
- 4Q 2023 was challenging for reasons outlined above
- At operating level, RJ was at around breakeven for full year 2023
- Cash levels look good at around $0.2bn as of Dec-23
- Equity was positive as of Dec-23 (capitalisation of gov't funding during the virus crisis; acquisition of Jordan Airports Company in 2023)
- Looks like 1Q 2024 was not that great, but hopefully things will improve during the year...
Interview with CEO Majali
Royal Jordanian hit by Gaza war impact and Airbus delivery delays, airline chief says (thenationalnews.com)
- Tourist demand has most certainly reduced in immediate term
- VFR demand, demand within region less impacted
- Connecting traffic, Umrah offset reduction in inbound tourism demand (from Europe)