EgyptAir Holding Company President Hussein Massoud, at a press conference on Wednesday, said the airline lost LE700 million due to Arab unrest and Japan’s earthquake.
“Bringing back Egyptians from Libya alone cost US$34 million, which will be borne by the state budget,” he said.
“Revenues dropped by 80 percent in the first weeks of the revolution, flight operation by 35 percent and ticket sales by 60 percent,” he explained.
“We had to postpone the new routes we had planned,” he added, pointing to direct routes to Toronto, Washington, Abidjan and Kigali.
Translated from the Arabic Edition
