Royal Air Maroc Doubles its Profits in 2016
PERSISMA, Casablanca – Royal Air Maroc reported a profit of 520 million dirhams this year, approximately twice the profits earned in 2015.
Morocco’s state-owned airline did good in 2016. Data examined by Le360 revealed that the previous financial year had only displayed a profit of MAD 203 million. And the jump to 520 million would be thanks to non-routine transactions, says the Moroccan news site.
The company, led by CEO Abdelhamid Addou, would have had up to 129 million dirhams contributed by non-routine transactions, explaining the double-margin profit increase.
These non-routine transactions would be characterized by ticket-change penalties and other funds received as part of agreements for the development of domestic services.
This is the third consecutive year wherein the RAM observes a profit. It’s no wonder, as shown by the airline’s improvements in international rankings.
Last week, AirHelp named the RAM the best airline in Africa and the 40th in the world. The airline was given a score of 8 for quality and service, 9.1 for on-time performance and 4 for claim processing.
The airline also experienced a boost in sales this November with the UN’s COP22 climate change conference taking place in Marrakech this year.
The event, which was held from November 7 to 18, gave the company double-digit growth. (Ghita Benslimane)
