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No increases in ticket prices in the coming period: EgyptAir chairperson - Daily News Egypt

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No increases in ticket prices in the coming period: EgyptAir chairperson

First instalment of operating lease for new Boeing aeroplanes will be paid after first aircraft arrives on15 December, says Mosallam

EgyptAir will not increase ticket prices in the coming period despite the increase in the value of the US dollar against the Egyptian pound, according to chairperson and CEO of EgyptAir Holding Company Safwat Mosallam.

Minister of Civil Aviation Sherif Fathy announced earlier that the ministry will not increase EgyptAir ticket prices despite inadequate revenues from tourism currently.  The ministry had planned to increase ticket prices after the increase in the official rate of the US dollar.

EgyptAir is going to launch new airlines in the coming period, which it will announce later, Mosallam told Daily News Egypt.

Mosallam said that the company will pay the first instalment of the operating lease for the aeroplane after receiving the first of the nine Boeing aeroplanes, which is scheduled to arrive 15 December.

Mosallam added that the payment period for the total operating lease depends on receiving the aeroplanes from Boeing.

On 13 July, Fathy told Daily News Egypt that Dubai Aerospace Enterprise (DAE) financed the purchase of eight of the nine Boeing aeroplanes acquired by EgyptAir on 13 July.

DAE will lease the bought airplanes to Cairo, which could not finance the purchase due to a lack of foreign currency. The nine aeroplanes are financed by a loan from the US, according to the minister.

EgyptAir currently operates 20 Boeing 737-800, and after receiving the nine aeroplanes, the 737 category will represent a major proportion of single-aisle aeroplanes within the EgyptAir fleet.

EgyptAir operates 80 aircrafts, with 60% of the fleet powered by GE and CFM engines. The carrier flies to more than 75 destinations around the world and is a member of Star Alliance.

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