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.
Live News
-
Gabon Turns to Deepwater Offshore Oil to Stem Decline of Mature Fields
09:04
-
Training to Innovate: MTN Nigeria Launches Accelerator to Boost African Startups
09:01
-
Bisie Tin Mine Misses Alphamin’s Q2 Target by 21% Due to Rebel Violence
08:57
-
Egypt’s Wind Power Success: A Blueprint for Africa’s Green Ambitions
08:42
-
Cameroon Renews Exclusive Contract with SGS for Import Certification
07:54
-
Souhila Merraouche Modernizes Housing Access in Algeria
07:52
-
Togo to Get Six Vocational Centers with €50M Funding from EBID
07:48
-
Cameroon’s Public Investment Drops 40.7% as Loan Disbursements Stall
07:41
-
Cameroon: Kribi to Host $24 Mln Tourism Complex with Hotel, Golf Course
20:25
-
Cameroon Inflation Seen Easing Below 3% by 2027 But Staying Above Regional Target in Near Term
19:53
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...
Gabon is targeting deepwater oil to offset declining output, now at 200,000 b/d Investor-friendly reforms and better data access are driving...
MTN Nigeria launched a 100 million naira startup accelerator starting September The 12-week program offers funding, mentorship, and tech...
Rebel violence cut Bisie tin mine’s Q2 output to 4,106 tonnes, 21% below target H1 production hit 8,376 tonnes, 47% of Alphamin’s 2025...
Egypt opened Africa’s largest wind farm, raising Gulf of Suez capacity to 912.5 MW. Pro-investor policies have driven Egypt’s 340% renewable energy...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...