Qatar Airways eyes 25-49% stake in Royal Air Maroc
Wednesday, 08 June 2016 17:05
Qatar Airways plans to buy between 25 and 49% of Royal Air Maroc (RAM) as it wishes to expand in Africa, The National reported on June 5, citing one of the firm’s executive.
“The acquisition will require a significant improvement to the airline’s Casablanca base as Africa is in a great need for a major airport hub in the continent,” said Akbar Al Baker, CEO Qatar Airways.
According to him, Qatar Airways’ entry in RAM’s capital should take place after it has acquired 49% of Italian carrier Meridiana.
The transaction with RAM should also help the Qatari firm develop across African markets. Presently, the firm serves more than 40 destinations over the continent.
Also, Royal Air Maroc and Qatar Airways have signed in May 2015 a strategic commercial partnership agreement to expand their respective networks to Africa and Asia.
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