TUI Travel PLC signs letter of intent for Jet4You
08-Jul-2010 TUI Travel PLC has signed a letter of intent with Royal Air Maroc (RAM) for RAM to take a majority stake in Jet4You.
Jet4You is TUI Travel's Moroccan carrier which operates low cost routes between Morocco and European cities. In addition Jet4You offers competitive seat prices in the charter market mainly serving customers in France and Belgium.
The intention of any transaction is to build on the Jet4You market position as a low cost hybrid carrier and its independent profile.
As and when any transaction is agreed a further statement will be issued.
According to Royal Air Maroc, this 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.