Royal Air Maroc (RAM), Morocco’s national airline, is poised to close 2024 with 7.5 million passengers, according to the latest public sector report accompanying the 2024 finance bill. This forecast represents a 4.5% increase in air traffic compared to 2023. The company also expects to generate a revenue of 19.86 billion dirhams (MDH).
During the first four months of 2024, RAM transported nearly 3.3 million passengers, reflecting a 2.7% rise from the same period in 2023. The airline achieved a load factor of 76%, indicating improved seat occupancy across its flights. By the end of April 2024, its revenue had grown by 5%, reaching 8.81 billion dirhams, though the net result stood at -541 million dirhams.
RAM’s financial performance in 2023 was notably strong, marking the highest net result in a decade with a net margin of 2.2%. The airline’s revenue surged by 57% to 19.7 billion dirhams, driven by a strong rebound in travel demand following the lifting of pandemic-related travel restrictions.
In 2023, RAM transported approximately 7.2 million passengers, recovering 96% of its pre-pandemic traffic levels, despite operating with a fleet that was 10% smaller than in 2019. The airline also saw a record load factor of 77%, up by 5 percentage points compared to 2022, improving the profitability of its flights.
Looking ahead, RAM’s prospects are bolstered by a strategic contract-program signed in 2023. This plan charts a course for the airline’s ambitious growth, with plans to expand its fleet from 50 to 200 aircraft by 2037, open over 100 new international routes, and introduce 46 domestic lines. The strategy also includes diversifying revenue sources, with the goal of generating 94 billion dirhams in revenue and transporting 31.6 million passengers annually by 2037, with an 82% load factor.
This ambitious roadmap will firmly position RAM as a leading player in African air transport, supporting Morocco’s tourism development strategy and ensuring readiness for major events like the 2030 FIFA World Cup.
