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Sunday, 13 December 2020

Also on our radar on 13 December 2020

The impact of covid on air travel is becoming clearer: EgyptAir Holding Company plans to restructure its EGP 10 bn in debt owed to foreign lenders, Chairman Roshdy Zakaria said. The company has also taken out a EGP 3 bn loan from the National Bank of Egypt as well as an EGP 2 bn loan from state coffers to contribute towards the debt repayments.

Other things we’re keeping an eye on this morning:

  • French public transport operator Transdev plans to bid for the contract to manage the electric rail line lining Salam City, 10th of Ramadan and the new administrative capital, according to the company’s Egypt representatives.
  • 1.1 mn more Egyptians subscribed to ADSL services in FY2019-2020, bringing the total number as of June 2020 to 7.99 mn, according to a CIT ministry report.

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