8.2 C
New York
Monday, March 27, 2023
HomeBusinessHuge losses for Egypt's largest airline

Huge losses for Egypt’s largest airline

Member of the Egyptian Parliament Mohamed Saad al-Samoudi sent a request to the Speaker of Parliament to be informed about the loss of EgyptAir, which amounted to 30 billion Egyptian pounds (990 million dollars).

Al-Samoudi said in his request that the national company EgyptAir is facing many challenges, both in terms of the aviation industry, which has undergone many changes in recent years, and with a loss of 30 billion pounds ($990 million), which is a figure that requires standing. He has urgent action.

He added: “EgyptAir is also facing terrible competition in light of the terrible growth of regional companies, whether Arab or African, who were able to establish themselves on the global aviation scene in short periods of time after they were able to build a gigantic air network between the five continents of the world. , and his planes even reach most cities.” secretly stands in your shoes and has not been able to withstand the challenges and changes that have taken place in the aviation industry around the world.

He pointed out that the company is affiliated with 9 companies, spending about £500 million a month, and has 37,000 employees, as most of them were appointed without the need for them in light of the prevalence of nepotism and nepotism in their sectors, highlighting that the loss of the company amounted to 30 billion pounds, an insignificant number. This is unprecedented, so thinking about how to save this national entity, which is one of the soft power tools of the Egyptian state, has to become an urgent need so that it can fully continue its national role.

He asked, “What is the Ministry of Aviation’s strategy to reduce EgyptAir’s losses, and how far the company’s restructuring plan has come, and what is the cost of the contract for the Ministry to use a center of excellence owned by the German company Lufthans to provide technical advice, and what is the value of contracting with the American Saber to provide technology solutions?

Source: Al-Masri Al-Youm.

Follow World Weekly News on

Sallie Anderson
Sallie Anderson
Sallie works as the Writer at World Weekly News. She likes to write about the latest trends going on in our world and share it with our readers.

Leave a Reply

Must Read