JorAMCo started operations in1963 as the maintenance and engineering department of Royal Jordanian, the national flag carrier of the Hashemite kingdom of Jordan. However, following the government’s decision to privatize and restructure the airline, the new entity was officially launched as an independent company in October 2000, offering a range of MRO services for Airbus, Boeing and Lockheed aircraft. Its success in winning a number of contracts with airlines around the world led in 2005, to the company being offered for privatization through an international tender. Abraaj Capital, a Dubai-based private equity developing company, won the tender and purchased 80% share of JorAMCo, the remaining shares being 20% were retained by Royal Jordanian.
Abraaj Capital is the premier investment firm specializing in private equity investments in the Middle East, North Africa and South Asia (MENASA) region. The management team has collectively executed some of the most compelling and successful transactions in the history of leveraged acquisitions across the region.
Abraaj has pioneered the institutionalization of the private equity practice in the region and is setting trends and benchmarks for others to follow. The firm has been received a number of industry awards including 'Middle Eastern Private Equity of the Year' from Private Equity International (2005, 2006 & 2007), the Banker Middle East Award for 'Best Private Equity Institution' in 2006 and for 'Outstanding Contribution to Financial Services in the Middle East' in 2007 and 'Best Private Equity House' at the World Private Equity Awards, MENA in 2007. Arabian Business recognized Abraaj among the 50 Most Admired Companies in the GCC in 2007. Abraaj is also the first pure private equity firm to be licensed by DFSA to operate out of Dubai International Financial Centre (DIFC). Apart from managing its five private equity funds, Abraaj Capital Holdings Limited (ACHL) itself is extremely well capitalized, with an issued share capital of US$ 1 billion.
Headquartered in Dubai, Abraaj has more than 150 professionals representing 28 nationalities drawn from an extensive global pool of talent. Many of our Executive Directors have a long history of working together and are associated with landmark private equity transactions in the region such as the acquisition and exit of Aramex International and, the acquisition of Egyptian Fertilizers Company in the largest private equity led leveraged buyout transaction in the history of the Middle East and North Africa. We own businesses ranging from banks to supermarkets, from ship manufacturers to airlines, from hospitals to schools and from process manufacturing plants to high street retail outlets.
Royal Jordanian Airlines was established in 1963 as the national air carrier of Jordan.Its vision is to be the Airline of choice connecting Jordan and the Levant with the world. The airline is located in the heart of the capital, Amman, and its flights are operated from Queen Alia International Airport. Its modern fleet of some of 30 aircraft covers 59 destinations on four continents. RJ is also a member in the oneworld airline alliance, along with big names in the air transport industry. The company continuously reviews its plans to improve its air and ground services, broaden its route network and modernize its fleet.
Members of JorAMCo Board of Directors: