Airbus seeks to encroach on Royal Air Maroc's Boeing fleet renewal, sources say
By Tim Hepher and Ahmed Eljechtimi
PARIS/RABAT (Reuters) -Royal Air Maroc is nearing a deal with Boeing for dozens of jets to renew its fleet, though Europe's Airbus is preparing to gain a rare foothold with a smaller order for 20 A220 jets, industry sources said on Wednesday.
Royal Air Maroc has been in talks for over a year to renew its virtually all-Boeing fleet and is expected to stick with its traditional supplier for the bulk of its needs, including 737 MAX and 787 Dreamliner at next week's Paris Airshow, they said.
The sources asked not to be named because the negotiations are not public.
Bloomberg earlier reported the Boeing part of the deal may include about two dozen long-haul 787s and as many as 50 Boeing medium-haul 737s.
While the fleet plan reinforces the carrier's historic ties with Boeing, the sources said, it opens the door to Airbus for the first time in almost 25 years with an order for the A220 - a move that coincides with improved ties between Paris and Rabat.
Airbus, Boeing and Royal Air Maroc declined comment.
Royal Air Maroc CEO Abdelhamid Addou said last year that the airline was in discussions to order new planes as Morocco's flagship carrier, one of Africa's largest, expands to meet growing travel demand.
RAM plans to quadruple its fleet within a decade as Morocco prepares to co-host the 2030 World Cup with Spain and Portugal. Morocco also plans to double airport capacity to 78 million passengers a year.
Morocco is one of Boeing's most important regional markets, buttressed by longstanding deals to support the country's emergence as a rising hub in the aeronautical supply chain.
But French companies are eyeing growing opportunities after President Emmanuel Macron last year recognised a plan for autonomy for the Western Sahara region under Moroccan sovereignty.
A long-running dispute over the territory, dating back to 1975, pits Morocco, which considers Western Sahara its own territory, against the Algeria-backed Polisario Front, which seeks an independent state there.
France, however, also faces pressure over the number of traffic rights granted to its national carrier and any final Airbus deal may also depend on progress there, the sources said.
Royal Air Maroc's only previous direct order for Airbus jets was for four A321s in 2001. Its fleet mainly comprises the Boeing 737 MAX and 787 as well as some smaller Embraers and ATRs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Regional airports say they haven't been contacted about anticipated influx of flyers for World Cup
We're one year away from the FIFA World Cup matches here in Atlanta. Fans will come in from all over the world, and while most will fly commercial, many will come in on corporate or executive jets. The Metro Atlanta Chamber said nearly 1,600 private jets flew into metro Atlanta for the Super Bowl. Considering each one of these matches is a potential Super Bowl, those jets have to get parked somewhere. But so far, the airports around metro Atlanta say they haven't heard of a plan. Matthew Smith is not only the airport division director for Gwinnett County's Briscoe Field, he's also the president of the Georgia Airport Association. He's anticipating corporate and executive jets will fly into metro Atlanta for the big FIFA World Cup matches. TRENDING STORIES: Metro Atlanta parents 'made a dumb decision' by giving 1-year-old beer, report says SCOTUS rules on lawsuit from Atlanta family whose home was wrongly raided by the FBI Family finds someone else buried alongside their loved one in southwest GA cemetery 'Those jets have to go somewhere,' Smith told Channel 2's Richard Elliot. 'We can handle quite a bit. During the Super Bowl, we had well over 50 jets here.' The major regional airports in the Atlanta area include Fulton's Charlie Brown, DeKalb's PDK, Cobb's McCollum, Gwinnett's Briscoe and the Atlanta Speedway's airport. Smith said, so far, the Atlanta World Cup Hosting Committee hasn't reached out to any of them, but he expects they will. 'I'm sure at some point they'll include us just to make sure we have the capacity to handle what they expect to come in on the private side,' Smith said. Hartsfield-Jackson said it's prepared to handle some through signature and private suites, but any overflow would have to go elsewhere. Cobb's McCollum Field right now said it's more focused on handling flights for this summer's MLB All-Star game than the World Cup, but they added, 'Airport management is currently working with local, state and federal partners to coordinate planning efforts for the upcoming significant special events.' Smith said the regional airports are standing by to help. 'We've handled things like this before. We've had the Super Bowl. We've had the Olympics. We've had the NCAA Finals, and you know, football championships here. So, it's not something we're not used to. We typically can handle it with existing personnel and operations,' Smith said. Smith said Cobb, DeKalb and Fulton County's regional airports all have customs agents if needed.
Yahoo
an hour ago
- Yahoo
Stocks scoot higher on low inflation numbers, but Boeing sinks after fatal Air India disaster
Stocks climbed modestly higher on Thursday as two days of low inflation readings and the conclusion of a round of talks between the U.S. and China cheered investors. Boeing plunged after the Air India crash. A 30-year Treasuries auction showed investors still want long-term U.S. debt, deficit fears notwithstanding. Investors cheered two days of positive inflation data that sent stocks modestly higher Thursday. The S&P 500 gained 0.38%. The Dow and the Nasdaq each rose 0.24%. Boeing, however, ended the day down nearly 5% after its Dreamliner 787-8 jet was involved in a tragic plane crash that claimed the lives of more than 200 people. The U.S. and China concluded trade talks in London earlier this week that are poised to restore trade in critical minerals to the U.S. These rare earths are used in advanced manufacturing of items like electronics and batteries. Recent government data was also encouraging, showing that tariff-induced inflation economists have warned about for months has yet to materialize. On Thursday, the producer price index showed wholesale inflation coming in cooler than expected, a day after the consumer price index was similarly positive on consumer prices, showing inflation at a 2.4% annual rate. 'For the second day in a row, inflation data came in lower than expected, and this gives the Fed room to sit on their hands,' said Chris Zaccarelli, chief investment officer for Northlight Asset Management. 'As long as inflation isn't increasing—or even better, is decreasing—the Fed can be patient and wait for more information on how the new tariffs and trade negotiations are going to impact the price stability part of their dual mandate later this year.' Bond yields fell. A closely watched auction of 30-year Treasuries Thursday was awarded at 4.844%, Bloomberg reported, quelling fears that investors were starting to boycott U.S. bonds. The dollar continued to lose ground against a basket of currencies. So far this year, the greenback has lost about 9% of its value, and is trading at its lowest level in more than three years. GameStop fell 23% after announcing it planned to raise $1.75 billion from investors by issuing convertible bonds. Boeing lost 4.8% after the fatal crash of an Air India Dreamliner in Ahmedabad, India, that killed 241 people. This story was originally featured on
Yahoo
an hour ago
- Yahoo
Dollar dives on Trump's new trade threat
The dollar plunged on Thursday after US President Donald Trump threatened higher unilateral tariffs on trade partners, and oil see-sawed as traders evaluated the probability behind reports that Israel could be gearing up to strike Iran. Stocks traded mixed as investors navigated the double whammy of returning trade uncertainty and geopolitical volatility, while Boeing's share price slumped sharply in the wake of a deadly 787 Dreamliner crash in India. In New York, investors cheered benign US producer price data and a successful US Treasury auction that sent yields lower. But markets were leery after Trump on Wednesday said he would be sending letters within the next two weeks to other countries' governments to announce unilateral US levies on their exports to America. "This is the deal, you can take it or leave it," Trump told reporters. Investor unease about Trump's trade rhetoric is "causing a little bit of selling," said Jack Ablin of Cresset Capital Management. In the end, the S&P 500 finished up 0.4 percent after a see-saw session. All European stock markets finished lower, except London, which posted an uptick despite official data showing the UK economy shrank more than expected in April. The dollar was down against the euro, and at one point fell by more than one percent to its lowest point in three years against the European single currency. "Trump has done it again. The US president has rattled markets with fresh threats of unilateral tariff rates on several trading partners," said Fawad Razaqzada, market analyst at Markets were also following reports that Israel was poised to launch airstrikes on Iran. Trump called Thursday on Israel not to attack Iran, saying a deal on its nuclear program remained close. But Iran has ramped up rhetorical pressure before upcoming talks, including with a threat to strike American bases in the region if the negotiations break down and conflict erupts. Oil prices, which had initially jumped on Wednesday on the heightened tensions, flipped direction for much Thursday, finishing modestly lower. Back in New York, Boeing dropped nearly five percent after a London-bound Air India plane -- a Boeing 787 -- crashed in Ahmedabad with 242 people aboard. The US planemaker declared itself ready to support Air India following the crash, the first involving a 787 Dreamliner. - Key figures at around 2015 GMT - New York - Dow: UP 0.2 percent at 42,967.62 (close) New York - S&P 500: UP 0.4 percent at 6,045.26 (close) New York - Nasdaq Composite: UP 0.2 percent at 19,662.49 (close) London - FTSE 100: UP 0.2 percent at 8,884.92 (close) Paris - CAC 40: DOWN 0.1 percent at 7,765.11 (close) Frankfurt - DAX: DOWN 0.7 percent at 23,771.45 (close) Tokyo - Nikkei 225: DOWN 0.7 percent at 38,173.09 (close) Hong Kong - Hang Seng Index: DOWN 1.4 percent at 24,035.38 (close) Shanghai - Composite: FLAT at 3,402.66 (close) Euro/dollar: UP at $1.1583 from $1.1487 on Wednesday Pound/dollar: UP at $1.3605 from $1.3547 Dollar/yen: DOWN at 143.56 yen from 144.56 yen Euro/pound: UP at 85.11 pence from 84.79 pence Brent North Sea Crude: DOWN 0.6 $69.36 per barrel West Texas Intermediate: DOWN 0.2 percent at $68.04 per barrel bur-jmb/acb Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
