Royal Jordanian CEO resigns, denies RJ for sale

AP News
Posted: Apr 18, 2012 6:13 AM
Royal Jordanian CEO resigns, denies RJ for sale

The head of Jordan's national carrier has announced his resignation and says Royal Jordanian is open to merger possibilities but is not for sale.

Hussein Dabbas says he will step down June 1. He says the airline saw gains in the first quarter of 2012 after a "turbulent" 2011 caused by regional uprisings.

RJ has witnessed 26 percent growth in passenger traffic with new routes to Libya in early 2012. Dabbas said Wednesday that he expects the second and third quarters to see more traffic, with lower oil prices cutting costs.

Last year, its operating revenue grew by 6.3 percent. But statements show operating costs also rose, and the company experienced an $82 million loss.

Dabbas says RJ is open to "strategic partnerships" because of competition from larger airlines.