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Royal Air Maroc Unveils Expansion Strategy
Royal Air Maroc (RAM), the national carrier of Morocco, is set to embark on a journey of expansion and modernization with the acquisition of 10 new aircraft. The strategic move comes as part of RAM’s ambitious plan to become a global airline, quadrupling its fleet by 2038 in order to strengthen the airline’s position in the African aviation landscape as well as bolster its capacity to cater to the surging travel demand.
According to reports by TELQUEL, RAM recently finalized the purchase of 10 jets, following extensive discussions with industry giants Boeing and Embraer. The orders were meticulously structured, combining both direct purchases and leasing contracts with an option to purchase, according to the media outlet.
The new aircraft additions to the RAM fleet include four Boeing 787 Dreamliners, comprising two 787-8 and two 787-9 models, and four 737 MAX 8 aircraft. This move aligns with the airline’s vision to enhance its long-haul capabilities and provide passengers with a world-class travel experience. In conjunction with Embraer, RAM secured an agreement for two E190s, although specific details on whether they are from the E1 or E2 family were not disclosed.
Beyond the orders already confirmed, Royal Air Maroc is actively negotiating with Boeing for a potential second deal. This prospective agreement involves an additional seven 737 MAX 8s and three additional Dreamliners, signaling the airline’s commitment to bolstering its fleet with modern and efficient aircraft.
Undoubtedly, these acquisitions will play a pivotal role in realizing RAM’s overarching growth strategy for 2037. The airline aims to increase its fleet size from the current 50 aircraft to an impressive 200 by 2038, significantly boosting its passenger capacity from 7.3 million to 31.6 million. By doing so, RAM seeks to become a dominant player in the global aviation market and fortify its position as one of the leading carriers in Africa.
A new era of growth for Royal Air Maroc. July 11, 2023, in Rabat, marked a historical moment for our company. The Head of Government and our CEO signed a Program Contract, paving the way for a visionary development plan over the next fifteen years. pic.twitter.com/4y4kWNdq7t
— Royal Air Maroc (@RAM_Maroc) July 14, 2023
RAM’s expansion plan not only underscores its commitment to meeting the evolving needs of travelers but also supports the Moroccan government’s broader agenda to strengthen the nation’s tourism sector. With a target of attracting 17.5 million tourists by 2026 and a visionary goal of 67 million visitors by 2037, Morocco is well on its way to becoming a thriving tourism destination.
While RAM’s expansion plans are grand, the airline remains committed to financial stability and prudently managing its resources. To ensure the financing of new aircraft acquisitions, Royal Air Maroc relies on an annual contribution from the state, which will be adjusted based on financial requirements. A monitoring committee appointed by the head of government will assess the need for capital increases on an annual basis, ensuring precise planning, financial stability, and the success of RAM’s transformation.
The deliveries of the new aircraft are expected to commence between September 2023 and January 2024, which suggests that they may be second-hand models in some cases.
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