British Airways could Buy into Royal Jordanian
A team of British Airways consultants ended Sunday a visit to Amman to investigate the possibility of buying a stake in Jordan's flag carrier Royal Jordanian (RJ), the latter's president and chief executive officer, Nader Dahabi, told Agence France Presse.
Dahabi said the experts from the Speedwings consultancy had visited the various departments of RJ collecting data with a view to British Airways becoming a "strategic partner" of the Jordanian government.
Amman has taken various steps in recent months to pave the way for a sell-off of RJ. In July at the government's request the Parliament abrogated a law defining the company as a public enterprise.
Financial restructuring has brought RJ's debts down to $150 million last year from an estimated $1 billion earlier in the decade.
The aim is to sell 49 per cent of RJ to a major foreign airline or other investors, keeping the rest in private Jordanian hands.
RJ has a fleet of nine Airbus A310 aircraft, of which five are leased, three A320s, including two leased, and two cargo planes. The airline serves 45 destination -- AMMAN (AFP)
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