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Sunday, 20 November 2016

EgyptAir float prices, aims to record surplus this year

EgyptAir has decided to float its ticket prices in accordance with “demand and supply and according to the FX rate,” Chairman Safwat Mosallam said, according to Al Borsa. Booking systems EgyptAir use have increased their fees, Civil Aviation Minister Sherif Fathy said, but EgyptAir had not increased its base ticket price. Mosallam says EgyptAir is also cutting the salaries of its staff based abroad by 20% and reducing its representative offices. He said the national flag carrier is aiming to record its first surplus since 2011 this year.

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