Morocco’s Flag Carrier Doubles Profits in 2016

Morocco’s flag carrier, Royale Air Maroc (RAM), saw its profits more than double in 2016 to stand at 520 million dirhams (52 million dollars) compared to 203 million dirhams last year.

This performance is largely ascribed to non-current financial assets which contributed by 129 in the company’s overall profits, local e-journal le360 said quoting a senior official from RAM.

The company’s total turnover totaled 14 billion dirhams, of which operation costs make up 13.5 billion dirhams including 2.1 billion went to staff costs.

After suffering a deficit in 2012, RAM launched a restructuring project to reduce costs and increase competitiveness. Since then it has been posting profits by the end of the fiscal year.