Public Management

Royal Air Maroc plans sale of its Boeing 737-700 fleet

Friday, 18 December 2020 17:17
Royal Air Maroc plans sale of its Boeing 737-700 fleet

(Ecofin Agency) - Royal Air Maroc (RAM) has started processes to sell its six Boeing 737-700s. According to CEO Abdelhamid Addou (pictured), an international tender will be issued shortly as part of the process.

These aircraft, aged between 14.8 and 21.8 years, are among the oldest aircraft in the carrier's fleet. According to the CEO, their sale was initially planned 2 years ago. But in the meantime, the Covid-19 pandemic disrupted the project.

Overall, RAM is expected to sell or lease about 20 of the 59 aircraft in its fleet as part of its ongoing restructuring plan. "First, we don't know how global air traffic demand will recover and evolve in the coming years and secondly, the global aircraft market is overwhelmed since many major airlines such as Lufthansa have sold off hundreds of aircraft," said Abdelhamid Addou.

As part of its rescue plan, RAM also plans to trim about 30% of its workforce; this is nearly 900 employees including 150 pilots. The airline will shut down several lines in Africa, Asia, Europe and America. A steering committee is set up to monitor the plan.

The Department of Public Enterprises and Privatization (DEPP) projects a 56% decline in RAM’s turnover to MAD 6.63 billion (€614 million) and a net loss of MAD 3.73 billion for 2020, mainly due to the Covid-19 pandemic.

Romuald Ngueyap

Additional Info

  • communiques: Non
  • couleur: N/A
 
Finance


 
Telecom


Ecofin Agency covers the news from 9 business sectors in Africa: Public management, Finance, ICT, Agribusiness, Electricity, Mining, Oil and Gas, Comms and Laws. Ecofin Agency is also creating and management specialized medias, in paper and on the web/social networks, for institutions or African publishers.

AGENCE ECOFIN

Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

REDACTION
redaction@agenceecofin.com

Public management
Aaron AKINOCHO
Borgia KOBRI
Moutiou ADJIBI

Finance
Idriss LINGE
Walid KEFI
Chamberline MOKO

Agribusiness
Espoir OLODO

Electricity
Gwladys JOHNSON

Oil and Gas
Olivier DE SOUZA

Mining
Louis-Nino KANSOUN

ITC 
Muriel EDJO

Comms
Servan AHOUGNON

Cameroon
Brice R. MBODIAM
Sylvain ANDZONGO
Monique MAY
Julienne Rose SENDE

Togo
Fiacre E. KAKPO
Waliyullah TAJUDEEN
Séna AKODA

Niger
Sandrine GAINGNE

Gabon
Stephane BILLE
Pierre-Celestin ATANGANA

Desk
Stéphane ALIDJINOU
Souha TOURE
Vahid CODJIA
Diane ZODEHOUGAN
Hikmatu BILALI

Translation
Schadrac AKINOCHO
Mouka MEZONLIN
Firmine AÏZAN



Digital
Omar SOKHNA
Mamadou DIOP
Bacary MANE
Abdel Razak MOULIOM

Digital Marketing
Jérémie FLAUX
Geraud ACHI
Jean Christian BERNARD
Franck FOUTE

Web publishing
Bakoly RAHARISOA
Rina RAMANANDRAISOA
Hasina RAJEMISON

Development
Dominique FLAUX

 


 
REGIE COMMERCIALE
AGENCE ECOFIN
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11
Fax: +41 22 301 96 10

Benjamin FLAUX
bf@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72

Voir page 
Nos services
 

 










 



Ecofin Agency is a news agency for economic and sectorial information. It was created in 2010 and it website was launched in June 2011.

Please publish modules in offcanvas position.