Royal Air Maroc invests 300 million in fleet expansion
The signing of the $300 million expansion agreements includes the modernisation of Royal Air Maroc's (RAM) existing aircraft and the lease of five Boeing 737-800 aircraft. The US-based Air Lease Corporation (ALC) will deliver the aircraft to the Kingdom in 2024.
The Los Angeles, California-based company issued in a statement that the transfer of 5 Boeing aircraft to the Moroccan company RAM is part of the company's new policy to deploy this type of aircraft to the various airlines operating flights to the United States.
Air Lease Corporation CEO Steven F. Udvar-Házy said: "ALC is pleased to announce this lease of five Boeing 737 aircraft to Royal Air Maroc". He added that the US carrier looks forward to building a "long-term relationship with RAM as they continue to modernise their fleet and grow their network, as well as maximise their competitive advantage with the most fuel-efficient aircraft on the market".
For RAM, CEO Abdelhamid Addou said: "Through this agreement with esteemed partners such as ALC, Royal Air Maroc will receive additional aircraft that will strengthen and modernise our operating fleet".
The new aircraft will also allow RAM to "constantly improve the quality of service for our customers, while reducing our carbon footprint in line with our environmental commitment," the executive continued.
Morocco 2037
In line with its 2023-2037 strategy, which includes expanding its fleet from 50 to 200 aircraft, RAM began implementing the plans last month. The company will now operate in 143 locations, up from 99 locations in 44 countries.
Morocco's national carrier Royal Air Maroc is the country's largest airline. The airline has established a network that reaches 80 destinations in 41 countries around the world, with regular departures to major capitals in Europe, North America, South America, Africa, the Maghreb region and the Middle East. Mohammed V Airport in Casablanca serves as the organisation's main hub.
For the government, the expansion and development of the company is key to achieving the country's goal of reaching 65 million tourists within a year. To this end, last month Addou and the governor of the Kingdom of Morocco, Aziz Akhannouch, issued a statement in which the company will receive around 120 billion dirhams in investment, which will be used to create 200,000 jobs. In addition, another agreement was signed in which RAM expects to own 200 aircraft by 2037.