AMMAN: The Royal Jordanian’s (RJ) general assembly agreed on Saturday on a restructuring plan for the national carrier that entails raising capital by JD200 million.
A statement by the airline said that following the discussion, during the extraordinary meeting, stakeholders decided to reduce the restructuring costs by JD37.9 million to offset part of the company’s accumulated losses at year end 2014. The company reported a net loss of JD39.6 million last year. “At the same time, the capital will be increased by 200 million shares/dinars, making the authorized share capital 246.4 million shares/dinars through public offering and/or private offering to the shareholders, as may be decided by the board of directors,” the statement said.
RJ also suspended during the year flights to Tripoli, Benghazi, Misrata and Mosul, in addition to stopping services to Damascus and Aleppo since July 2012, all due to security concerns. Flights to Sanaa and Aden have been suspended since mid-February 2015.
