Jordan Times
Thursday, November 16, 2006
Royal Jordanian wins ‘CAPA Airline Turnaround of the Year 2006’ award
AMMAN (JT) — Royal Jordanian (RJ) won the Merit
Award for the CAPA Airline Turnaround of the Year 2006 at the 3rd Annual Asia
Pacific and Middle East Aviation Outlook Summit, held recently by the Centre for
Asia Pacific Aviation (CAPA) in Singapore.
In his letter to RJ President/CEO Samer Majali, CAPA Executive Chairman Peter
Harbision said RJ was selected for the award of excellence in recognition of its
successful turnaround and strong strategic contribution to the aviation
industry.
Majali attributed the selection to the significant development RJ has witnessed
since its transformation from a governmental company to a shareholding company.
He noted that the airline receives no subsidy from the government and operates
on a strictly commercial basis.
“RJ proved competent in turning its losses into profits during the last three
years,” Majali said. “The $12.6 million losses in 2003 became $24.2 million in
profits in 2004 and $30.5 million in 2005,” he indicated.
He added that this swift transformation will facilitate selling a big part of
the company’s shares to the local and international private sector in 2007.
Emphasising RJ’s pride in receiving the CAPA award, Majali stressed the
company’s determination in executing a robust strategy to modernise its fleet,
expand the route network, develop services and IT systems, and restructure the
airline.
“The result is a notably improved image in the eyes of customers and
organisations working in the field of aviation,” he said.
The CAPA awards are presented annually to Asia Pacific and Middle Eastern
personalities and organisations whose activities most influence business and
regulatory strategies in ways which have a lasting impact on the evolution of
the aviation and tourism industries.
CAPA, headquartered in Sydney, Australia, was founded in 1990. It has built an
international reputation as the leading specialist aviation consultancy in the
Asia Pacific, the Indian Subcontinent and Middle East regions.
CAPA Consulting’s strategic advisory services are supported by the extensive
information and data services provided by the centre’s Market Research Unit to
aviation industry leaders every day.
The centre also holds regular aviation leadership summits, which provide unique
opportunities for the exchange of ideas and experience.