EgyptAir losses drop in 2012-2013

EgyptAir has seen fewer losses during the period 2012-2013, according to a government statement.

“The company and subsidiaries recorded losses worth LE1.7 billion during the 2012-2013 fiscal year, which ended in June,” Civil Aviation Minister Abdel Aziz Fadel said. “It is a drop from LE3.13 billion during 2011-2012.”

In a statement reported by Anadolu Agency on Thursday, the minister predicted the that the company would overcome losses in the next two years, especially as the situation stabilizes when the country passes the amended constitution.

EgyptAir has nine state-owned subsidiaries working in airport, aviation and transport services.

Edited translation from Al-Masry Al-Youm

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