ADVERTISEMENT

Royal Jordanian Says Needs Government Aid to Weather Coronavirus

Royal Jordanian Says Needs Government Aid to Weather Coronavirus

Royal Jordanian Airlines said it needs the government’s financial support to weather the coronavirus crisis, after losses surged more than fivefold in the first quarter.

The Middle Eastern airline posted a loss of 25.5 million dinars ($36 million) in the first quarter compared with a loss of 5 million dinars a year earlier, according to a statement on Thursday. Passenger numbers dropped 19%.

The impact of the virus will be even bigger in the second quarter, said Chief Executive Officer Stefan Pichler.

Airlines around the globe have started to ramp up operations as governments slowly re-open their borders and ease lockdowns. Airlines still face more than $84 billion in combined losses this year.

©2020 Bloomberg L.P.