Royal Air Maroc Secures $320 Million for Post-Pandemic Recovery Plan

The restructuring project was based on two flagship operations. A capital reduction from 8.6 billion dirhams to 2.2 billion dirhams and a recapitalization within a few weeks of around 1.65 billion dirhams (from 6.9 billion dirhams to 8.6 billion dirhams) but this time by incorporating reserves alone. In addition to these two major operations, new bank loans worth 2.4 billion dirhams will be granted in the form of bank loans with the guarantee of the Moroccan state.

RAM is thus clearing a heavy liability of some 6.35 billion dirhams, including 3.5 billion for the fiscal year ended October 31, 2020 and nearly 3 billion dirhams dating back to the period prior to 2014, a lean year.

North Africa’s leading airline, RAM had achieved good sales figures between 2015 and 2019 before seeing its results plummet with the advent of the Covid-19 pandemic, which has caused the collapse of around forty air transport companies around the world.