July 3, 2020 / 3:02 PM / a month ago

Morocco’s RAM to axe routes, may reduce fleet to secure aid

RABAT, July 3 (Reuters) - Moroccan airline Royal Air Maroc plans to cancel some air links, cut jobs and may sell 20 aircraft to secure state aid it needs to cope with the coronavirus crisis, a source from within the company said on Friday.

A government aid package for the state-owned carrier will be revealed in the upcoming review of the 2020 budget, the source said, but it will be conditional on spending cuts. The timing of the review is not yet known.

RAM said in May it may seek a state loan guarantee to help cover expenses as it struggles with $5 million in daily losses caused by the pandemic.

It resumed domestic flights on June 25 but international air traffic in and out of Morocco remains suspended.

The government has also asked public administrations to freeze hiring for 2021 to help preserve cash and cushion the economy from the fallout from the pandemic. (Reporting by Ahmed Eljechtimi;Editing by Elaine Hardcastle)

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