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FINANCIAL NEWS
Royal Air Maroc considers strategic alliance with GCC carrier
14 May 2013
(MENAFN) Moroccan tourism minister, Haddah Lahcen, stated that the country’s state-owned carrier Royal Air Maroc could align with a Gulf carrier, such as Emirates Airline or Etihad Airways, reported Arabian Business.
Lahcen added that the government plans to privatize the Casablanca-based carrier, which received a bailout of USD193 million from Moroccan authorities, and then it will look into different possibilities, including a tie up.
The airline has faced growing competition from other operators in the Kingdom, following the introduction of the open-skies policy in 2007.
It is worth noting that Air Maroc reported a loss of USD672 million in its most recent financial year.
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