Amman, May 21 (Petra) — Royal Jordanian announced Wednesday the signing of a USD 250 million syndicated loan agreement, led by Arab Bank and involving several other Jordanian and regional financial institutions. The move highlights strong banking sector confidence in the national airline.

Speaking at the signing ceremony, Said Darwazeh, Royal Jordanian’s Chairman of the Board of Directors, emphasized the airline’s deep roots. “Royal Jordanian has a long-standing legacy as the national carrier and has, since its establishment, served as a key pillar in connecting Jordan to the world and reinforcing its role as a regional hub,” Darwazeh stated.

He noted that “despite various challenges globally and in the region, the airline continued its operations with resilience and determination, fulfilling its national mission and significantly contributing to Jordan’s economy, especially in tourism and transport.”

Darwazeh described the agreement as “a strategic milestone that underscores the strong relationship between Royal Jordanian and the banking sector,” adding that it “reflects the confidence that local and regional financial institutions have in the company’s long-term vision.”

He further commented, “We see this partnership as a vital enabler of Royal Jordanian’s transformation and modernization efforts, reinforcing its regional and global competitiveness.”

Concluding his remarks, Darwazeh said, “We greatly value the role played by Arab Bank and all participating banks in facilitating this banking arrangement. We look forward to continued constructive collaboration that supports the company’s objectives and contributes positively to the national economy.”

Samer Majali, Vice Chairman and CEO of Royal Jordanian, detailed the airline’s plans for the funds. “As part of our recently launched growth and expansion strategy, Royal Jordanian is focused on modernizing its fleet, expanding its route network, investing in our growth ambitions especially in aviation support ventures, digital transformation and advanced technologies, in addition to settling the remaining balance of the existing loan,” Majali explained. “This strategic direction requires reliable financial support.”

“Fleet modernization is a cornerstone of our commitment to sustainability,” he elaborated, “as modern aircraft play a crucial role in reducing fuel consumption and carbon emissions, aligning with our environmental responsibility and long-term aspirations.”

Majali also expressed pride in the financial sector’s backing: “We take great pride in the trust shown by Jordanian and regional banks that chose to participate in this financing. Their confidence affirms the airline’s strong credit profile and financial stability. Our full commitment to repaying the previous syndicated loan on schedule, even under the most challenging conditions during the COVID-19 pandemic, played a key role in reinforcing this trust and encouraging broader participation from financial institutions.”

Randa Sadik, CEO of Arab Bank, echoed the sentiment of confidence. “This USD 250 million financing agreement demonstrates Arab Bank’s and the participating banks’ belief in Jordan’s national carrier’s capacity to execute ambitious future expansion and development plans, reinforcing its position within the aviation sector,” Sadik stated.

“The agreement also underscores the strong confidence Royal Jordanian enjoys among local and regional financial institutions.”
She added that this financing “directly contributes to supporting the national economy and reinforcing Jordan’s standing regionally and internationally.”

//Petra// AA
21/05/2025 17:22:48