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Royal Jordanian Air exploring sale of its first bonds

Published Tue, Nov 26, 2013 · 10:00 PM
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[DUBAI] Royal Jordanian Airlines, the unprofitable carrier seeking a merger, is exploring a sale of its first bonds or sukuk along with more shares to prop up a balance sheet hurt by fuel costs and a local travel slump.

The company may sell a Syariah-compliant or conventional security in the second quarter of 2014, chief executive officer Amer Hadidi said in an interview at the Dubai Air Show.

The amount will depend on how much money is raised from the share sale, which is scheduled for the first quarter, he added.

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