Royal Jordanian Airlines to convert debt to shares

Royal Jordanian Airlines will undertake a new program for financial restructuring. A press statement issued by the company said, "The program will comprise converting the company's debts to shares in the company." These debts are $160 million, in addition to another governmental debts.

The statement added, "The company succeeded in settling debts of $30 million with local banks," and it has to settle another $60 million in debts before the end of the current year.