Royal Air Maroc gets government bail out

Victoria
By Victoria September 23, 2011 07:23

Royal Air Maroc gets government bail out

Morocco’s government has offered flag carrier Royal Air Maroc 1.6 billion dirhams ($193.3 million) to shore up its finances. The funds will be used to help the state-controlled airline cut its workforce by 30%, renew its fleet to reduce fuel consumption, and revamp its operations, reports Reuters. Royal Air Maroc is losing around 80 million dirhams per month after being hit hard by the Arab Spring, a terrorist suicide attack in Marrakesh as well as increase competition from low-cost carriers. Royal Air plans to sell four A321s and five 737-500s to reduce the average age of its fleet and will take delivery next year of two out of four Boeing 787s and at least five 737-800 aircraft.

Victoria
By Victoria September 23, 2011 07:23
Write a comment

No Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Froyal-air-maroc-gets-government-bail-out%2F"> registered </a> users can comment.