May 9, 2020 / 6:56 PM / 23 days ago

UPDATE 1-Royal Jordanian airline says seeks debt rescheduling after finances hit

(Adds details and background)

AMMAN, May 9 (Reuters) - Jordan’s flag carrier Royal Jordanian (RJ) said on Saturday it had requested the rescheduling of debt payments owed to leasing companies and banks after an “unprecedented” fall in revenues due to the coronavirus pandemic.

In a bourse disclosure, the state-owned airline said it had asked airline leasing companies, suppliers and banks for a rescheduling of sums owed for a “few months”.

The airline, which has an extensive network in the region, did not give a figure on how steep the drop in revenues had been since Jordan closed its airspace on March 18.

While Jordan has started to ease tight lockdown restrictions, it has only allowed repatriation flights for citizens, who are required to enter quarantine on their return. A prohibition on foreigners entering the country remains.

The company said that, alongside the business lost due to the lockdown, it had so far had to pay 16 million dinars ($22.5 million) in returned tickets.

The company would seek financial aid from the government under a stimulus package to help troubled firms, RJ said.

With no indication when Jordan’s international airport was going to resume commercial traffic, it was difficult to predict the extent of the impact nor a timeframe for the return of passenger demand, the airline said.

$1=0.709 dinars Reporting by Suleiman Al-Khalidi; Editing by Alex Richardson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below