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Royal Air Maroc (AT, Casablanca Int'l) has reached an agreement with its sole shareholder, the Moroccan government, over a financial support package which will require the airline to implement drastic fleet and personnel cuts.

According to Morocco's Medias24 portal, the government and the Hassan II Fund should provide support in a variety of forms (i.e. guarantees, debt, and equity purchases) to the airline which has been losing MAD50 million Moroccan dirhams (USD5.16 million) per day as a result of the COVID-19 crisis. Although an exact figure was not specified, previous media reports have pointed to RAM being granted a package valued at more than MAD16 billion dirhams (USD1.65 billion).

In return, RAM's chief executive Abdelhamid Addou told a workers council meeting on July 2 that the airline would implement the following cuts:

• 858 staff will be retrenched, including 180 pilots and 500 cabin crew. Around 13% of ground staff, not counting those employed at subsidiaries such as RAM Handling, will also be let go with recent recruits and those who have been with the airline...