Rabat - Qatar Airways is set to buy anywhere from a 25 to 49 percent stake in Royal Air Maroc in the near future, according the Qatari carrier’s chief executive.
Rabat – Qatar Airways is set to buy anywhere from a 25 to 49 percent stake in Royal Air Maroc in the near future, according the Qatari carrier’s chief executive.
Reuters reported that the airline had reached an “understanding” with the Moroccan government that the renowned carrier will purchase a miority stake in Royal Air Maroc if required.
“Talks have not started but on the high level there is an agreement,” Akbar Al Bakir, the CEO of the Qatari airline said. “There is an understanding between the governments that Royal Air Maroc needs help and Qatar Airways would be very forthcoming.”
Currently, the Qatari airline is also in communication with the Italian carrier Meridiana to acquire a 49 percent stake.The Qatari actors have until June to decide on their position regarding the deal.
Baker said his airline’s resources has been focused on the potential partial purchase of the Italian airline, meaning Qatar Airways awaits the closure of the Meridiana deal before considering an agreement with Royal Air Maroc.
The Reuters report on the Qatari airline noted that the success of the deal with Meridiana depends on corporate restructuring and possible job losses for the airline being bought.
The Moroccan airline has shown an interest in contributing to the achievement of the African Development Bank’s development goals for the years 2013 to 2022.
A new route between three African capital capitals – Accra, Ghana, Freetown, Sierra Leone and Monrovia, Liberia – aimed to improve “regional economic integration” according to a Morocco World News report from February.