EgyptAir announces surplus revenue for fiscal year 2000

Published April 22nd, 2001 - 02:00 GMT

Egypt's national airline, EgyptAir, announced Wednesday, April 18, profits of 119.8 million Egyptian pounds ($31.5 million) for the fiscal year 2000, EgyptAir chief Mohammad Fahim Rayyan told reporters in Cairo Wednesday. 

 

"The figures represent an augmentation of 52 million pounds ($13.7 million) in profits from the report for the 1998-1999 fiscal year," Rayyan said. 

 

The profits, for the financial year, which ended last July 30, were disclosed in the company's budget report and approved by the company's general board and Egyptian Transport Minister Ibrahim Al-Dumairi. 

 

Rayyan added the revenues exceeded the figures predicted for 1999-2000 by 34.8 million pounds ($9.15 million). 

 

He said the company grew by seven percent over the period despite the bad publicity of the October 1999 crash of an EgyptAir flight going from New York to Cairo that left 217 dead. 

 

The reasons for the crash are still under investigation. — (AFP, Cairo) 

 

© Agence France Presse 2001

© 2001 Mena Report (www.menareport.com)

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