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Indiaexportnews.com

Civil aviation minister expects to narrow EgpytAir loss

  04.06.2013    

National flag carrier EgyptAir, which suffered severe losses in the Arab Spring violence in early 2012 now expects to narrow losses 57 per cent to EGP1.5 billion (US$214.2 million) in the 2012-2013 fiscal year, said Civil Aviation Minister Wael Al-Maadawi.
He dismissed claims that EgyptAir was selling aircraft, saying that the company had instead leased out two aircraft, reported the Daily News of Egypt.
Mr Al-Maadawi also said current fiscal year profits for the Egyptian Holding Company for Airports and Air Navigation were expected to surpass EGP600 million, compared to EGP524 million during the previous year.
He said transit passengers passing through Egypt in 2013 would exceed one million, compared to 300,000 last year, largely because of the shutting down of regular air services to Libya and Syria due to continuing violence in both countries.



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