Royal Jordanian Receives “Airline of the Year 2007″

Royal Jordanian receives “Airline of the Year 2007″

AMMAN, June 24 (Xinhua) — Airfinance Journal, a leading financial magazine in commercial aviation industry, has granted ” Airline of the Year 2007″ award to Royal Jordanian (RJ) for its commercial success, local daily Jordan Times reported on Tuesday.

The journal published an extensive report listing the reasons RJ deserves the award which is given once a year to the most distinguished and financially efficient airline worldwide.

According to the report, the airline has doubled its 2001 size by the end of 2007 in terms of passenger numbers, financial revenues, flying hours and flights frequencies.

It started since 2004 to achieve net profits under difficult operational circumstances and daunting challenges such as regional instability, soaring fuel prices as well as fierce regional and international competition, it added.

The journal awarded RJ this title also in appreciation of the success of its privatization process, which saw 71 percent of the total issued share capital for the Initial Public Offering (IPO) floated last December, the report said.

The IPO witnessed great demand from investors both inside and out without the need for a strategic partner.

Moreover, RJ received international recognition through joining the Oneworld alliance, one of the three global airline alliances, as the first Middle East airline invited to be a member.

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