Egyptair (MS) generated EGP20.7billion (USD3billion) in revenue for its latest 2012/2013 Financial Year, a rise of 63% on that recorded for 2011/2012, Egyptian Minister of Civil Aviation, Abdel Aziz Fadel, has announced. Speaking in Cairo outlining the current state of Egypt's civil aviation industry, Mr Fadel did however concede that, despite the rise in revenue, the airline was still struggling to turn a profit as it is saddled with EGP11.5billion (USD1.7billion) in debt.
Tuesday, October 1, 2013
Monday, June 10, 2013
■ EGYPT: Egyptair's losses to narrow by 57% during this financial year; EHCAAN's profits to rise 15% - El-Maadawy.
Egyptian Minister of Civil Aviation, Engineer Wael El-Maadawy, has announced that Egyptian national carrier, EgyptAir (MS), is expected to see an improvement in its business climate with losses for the current 2012/13 fiscal year decreasing 57% compared to last year. Additionally, the Egyptian Holding Company for Airports and Air Navigation (EHCAAN) is expected to see a 15% rise in its profits on the back of the increased use of Egyptian airports as transit points.
Tuesday, May 14, 2013
The North African countries of Morocco and Egypt on May 5 finalized a renewed Bilateral Air Servcies Agreement which will see frequencies between the countries doubled from the previous seven, to fourteen weekly for each country's respective designated carrier(s). According to the head of the Egyptian Holding Company for Airports and Air Navigation (EHCAAN), Engineer Magdy Abd El-Hady Hafez, the revised BASA also allows for Egyptair (MS) to serve other cities outside of Casablanca, including the Moroccan capital, Rabat.