RAM - Jet4You

Royal Air Maroc and TUI Travel signed a letter of intent stipulating that RAM will take a majority stake in Jet4You, TUI Travel's Moroccan low-cost/charter carrier.

Jet4You operates 175-seat 737-400s and 189-seat -800s on a network spanning seven Moroccan airports and 12 European cities, mainly in France but also including Barcelona, Geneva and Brussels South Charleroi.

It has been 100%-owned by TUI since 2008.

"The intention of any transaction is to build on the Jet4You market position as a low-cost hybrid carrier and its independent profile,” the two companies said in a joint statement, adding, “as and when any transaction is agreed a further statement will be issued.”

According to Moroccan media, RAM would acquire two-thirds of the share capital of Jet4You.

RAM noted that the agreement is “part of the contribution to the enhancement of tourist flows to Morocco, and it’s a good fit to the business strategy of the company that aims at providing more travel options to its customers.”

Jet4You was established in 2005 by a group of Moroccan private investors and TUI, holding respectively 60% and 40% of the share capital, as a competitor to Atlas Blue, RAM’s LCC.

RAM integrated Atlas Blue into its mainline operations last year ([Vous devez être inscrit et connecté pour voir ce lien]) but apparently sees the need to reestablish an independent LCC.

The Moroccan government in December 2006 signed an open skies agreement with the EU, removing all capacity restrictions between the EU and Morocco and thus opening the market for unrestricted services to the country by European LCCs including Ryanair and easyJet.

Air Arabia Group also operates an LCC in Morocco, Air Arabia Maroc, which is based in Casablanca and launched operations in April 2009.
It offers services to 11 European destinations. Jet4You has its main base at Casablanca as well.