Morocco’s national carrier, Royal Air Maroc (RAM), recorded a consolidated net profit of more than US$212 million in 2025, representing a 154 per cent increase year-on-year, despite sharply raising investment in fleet expansion as it pursues an ambitious plan to become a leading aviation hub connecting Africa with Europe and the Americas.
According to The North Africa Post, the state-owned airline generated revenue of 21.5 billion Moroccan dirhams (approximately US$2.19 billion), an increase of 8 per cent, based on a report on state-owned enterprises accompanying Morocco’s 2027 budget bill.
The strong financial performance comes as the airline accelerates investment in aircraft and network expansion, positioning itself to capture growing demand for international travel, strengthen its African connections and support Morocco’s tourism ambitions.
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Royal Air Maroc increased its investment to approximately 3.5 billion dirhams (US$365 million) in 2025, more than twelve times the 291 million dirhams (about US$30 million) recorded the previous year. The spending was directed primarily towards expanding and modernising its fleet. By the end of September 2026, the carrier operated approximately 71 aircraft, compared with around 50 in 2023, reflecting its efforts to increase capacity and expand its route network.
The expansion is part of a long-term financing and development agreement signed with the Moroccan government in July 2023, covering the period through 2037. Under the programme, RAM aims to grow its fleet to 200 aircraft, supported by planned investment of approximately US$25 billion. The strategy includes opening more than 100 new international destinations and 46 domestic routes. The airline also targets annual passenger traffic of 31.6 million and revenue approaching 94 billion dirhams (approximately US$9.6 billion) by 2037.
The fleet expansion is expected to strengthen Casablanca’s position as a connecting hub for passengers travelling between Africa, Europe and the Americas. For African markets, the strategy could provide more connections to international destinations while improving access to Morocco for business travellers, tourists and the diaspora. The expansion also comes as Morocco prepares for major international events, including co-hosting the 2030 FIFA World Cup. The country is targeting 26 million tourists by the end of the decade, making air connectivity and airport capacity important components of its tourism development plans. RAM’s expansion could support this target by increasing seat capacity, widening access to Moroccan destinations and improving connections for visitors travelling through Casablanca.
The airline’s record profit marks a significant recovery following losses recorded between 2019 and 2022 during the COVID-19 crisis. It returned to profitability in 2023 and has since pursued growth despite intensifying competition from low-cost carriers.
