Nine groups bid to assess Moroccan carrier's privatization
Morocco, Business, 12/3/1999

Nine groups are to bid for the assessment of the placement modes of the Moroccan carrier, Royal Air Maroc (RAM), for its privatization, Moroccan L'Economiste daily reported.

The Public Sector Ministry, which will open the bid files next week, has not revealed the amount of RAM's capital to be open to the private sector, the daily said.

The bidding groups are Wafa Trust/Mc Kinsey, BNP-Paribas/BMCI/CHE, ABN Amro-Rotschild/Commerzbank/BMCE-Rolland Berger, Crdit commercial de France/Upline Securities/Charter House, Socit gnrale Paris-London/SGMB, Attijari Finance/Chase Manhattan/IBA, Crdit Lyonnais/Crdit du Maroc/Airclaims, BNDE/Natexis/Banque populaire, France/Arthur Anderson, and CFG/Salomon Brothers/GRA.

RAM's capital stands at $114 million, 94.38% of which is owned by the state and the remaining is shared by Air France (3.97%), Spanish Iberia (1.32%) and Moroccan private operators (0.33%).

RAM operates a 31-plane fleet, servicing a network of 57 cities in 36 countries. The carrier employs 5,429 persons, including 1,261 in maintenance services. The airliner expects to transport 3.4 million persons and 27,000 tons of freight at the end of 1999.

RAM is to invest $1.5 billion for the development of its long, medium and domestic lines between 2002 and 2012.

Previous Stories:
  King Mohammed chairs meeting on Maroc-Telecom   (11/23/1999)
  Morocco partly privatizes fertilizer, livestock firms   (10/20/1999)
  Morocco ready to cede 40% of carrier capital to private sector   (10/12/1999)

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