Amman: Royal Jordanian announced the completion of a USD 250 million syndicated loan agreement led by Arab Bank, involving several Jordanian and regional financial institutions. This agreement signals a strong vote of confidence from the banking sector in the national airline.
According to Jordan News Agency, Said Darwazeh, Chairman of the Board of Directors of Royal Jordanian, highlighted the airline’s historical importance. He remarked on its longstanding legacy as a national carrier and its pivotal role in connecting Jordan to the global stage. Despite facing numerous challenges, the airline has maintained its operations, contributing significantly to the national economy, particularly in tourism and transport.
Darwazeh described the loan agreement as a strategic milestone that underscores the solid relationship between Royal Jordanian and the banking sector, reflecting confidence in the airline’s long-term vision. He emphasized the partnership’s importance in enabling the airline’s transformation and modernization efforts, enhancing its competitive position regionally and globally.
Samer Majali, Vice Chairman and CEO of Royal Jordanian, outlined the airline’s strategic plans for the loan. The funds will be directed toward modernizing the fleet, expanding the route network, and investing in growth, digital transformation, and advanced technologies. This move aligns with the airline’s commitment to sustainability, as newer aircraft will help reduce fuel consumption and carbon emissions.
Majali also noted the significance of the financial sector’s trust in Royal Jordanian, highlighting the airline’s strong credit profile and financial stability. The airline’s commitment to repaying previous loans on schedule, even during the COVID-19 pandemic, has reinforced this trust and encouraged broader participation from financial institutions.
Randa Sadik, CEO of Arab Bank, expressed confidence in the agreement, stating that it demonstrates the participating banks’ belief in the airline’s capability to execute ambitious expansion and development plans. She emphasized that the financing supports not only the airline but also the national economy and Jordan’s regional and international standing.