Egyptair announces off-charge of tickets' prices ...

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Egyptair announces off-charge of tickets' prices ...

Post by Brian Yare »

The country's state-owned airline Egyptair announced on Thursday the pegging of the prices of tickets for its international flights to the US dollar, MENA reported.
On 3 November, Egypt's central bank floated the pound and raised key interest rates, as part of a set of reforms aimed at alleviating a dollar shortage and stabilising the country's economy.

Before the flotation decision, the official selling rate of the US dollar stood at 8.88 EGP, and has leveled at 16 EGP in banks in the past two days.

In a press conference, the Chairman of Egypt Air Safwat Mosallam told reporters that the company's cost for international flights is paid for [in part] in US dollars, and this will naturally result in a decline in revenues from ticket sales due to the recent pound flotation, MENA reported

Mosallam said that internal flights tickets' prices have not increased since the flotation decision.

Source: ... ets-p.aspx

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