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Banking

Royal Jordanian to select privatisation consultant by next week.

Royal Jordanian to select privatisation consultant by next week. Royal Jordanian’s chefs were in an earlier in dual day, a move made a rare (RJ) President and Chief Executive Officer Samer Majali told The Jordan Times on Wednesday that the privatisation plans for the airlines are progressing well. Majali further informed that the government is presently in the process of finalising a lead financial, technical and legal consultant; for the privatisation process. The appointment of the consultant is expected to be completed by next week. Majali said that the government plans to hold 26% stake, post-investment, in the airlines. The government along with Jordanian citizens will hold 51% stake. Meanwhile RJ has increased its passenger traffic to 1.82mn and its net profit for 2005 increased 25% y/y to reach JOD 21.7mn (USD 30.6mn). RJ’s capital stands at JOD 72.5mn.

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