Royal Jordanian supplies subsidiary sold to British firm
The British Alpha Company won a $20 million tender to purchase 80 percent of the Jordanian Airplanes Supplies Company’s stakes, according to the London-based Al-Hayat daily.
The Jordanian firm is a subsidiary of the Royal Jordanian Airlines Corporation, which will hold the remaining 20 percent of the stake in the company.
The Alpha Company, one of the world’s largest enterprises specializing in aircraft supplies, competed for this tender with a Swiss and a Spanish company. Alpha manages 49 specialist airline supply operations in Europe, the Americas and Australia, with sales reaching $366 million last year.
Furthermore, Royal Jordanian Airlines is looking to sell off even more of its shares to investors. This past September, it sold its duty-free operation to a Spanish firm for $60 million. It also sold its pilot training center for $18 million to an American firm last January.
The Jordanian government hopes to sell its plane and engine maintenance departments as well. The Royal Jordanian fleet is made up exclusively of Airbus planes and flies to 45 destinations. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)