Egypt’s national carrier EgyptAir has signed a lease agreement with French-Italian aircraft manufacturer Avions de Transport Régional (ATR). Under the terms of the new deal, ATR will supply six 48-seat ATR42-500 planes, including crew, in order to commence domestic shuttle operations at the beginning of December 2002.
The service aims to enhance domestic travel in Egypt by providing several daily flights between Cairo and Hurghada, Sharm Al-Shaikh and Luxor. Egyptair currently operates more than 400 flights weekly to various domestic and international destinations.
Egyptair’s fleet includes a Boeing 707, acquired in 1961, a Boeing 767-300, plus 13 other Boeing jets in the 737, 747 and 777 classes, as well as 25 Airbus jets. The airline operates more than 400 flights weekly to various national and international destinations.
In June, the Egyptian cabinet has authorized plans to gradually transform state-owned EgyptAir into a six-subsidiary holding companies. The company reported a 7.3 percent profit decrease from 119.8 million Egyptian pounds ($31.5 million) in fiscal year 2000 to EP111 million ($24 million) in the fiscal year of 2001. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
