Egypt Watch

Egypt airlines call on the government to bail them out

The Egyptian Ministry of Civil Aviation published page on Facebook an application submitted by Egyptian private airlines in which they appeal to the Minister of Aviation and the Council of Ministers to intervene to stop losses resulting from the precautionary measures taken to stop the novel coronavirus outbreak. Minister of Aviation Mohamed Enabah held a meeting with the chairmen of the boards of directors of private airlines to discuss the implications of the coronavirus pandemic on the aviation sector. “The current events taking place in the world have had a major negative impact on the civil aviation sector,” Enabah said. On March 19, Egypt announced the suspension of all flights for a period of two weeks before extending the ban for a further two weeks.

Capital Economics predicts that the corona crisis will affect the Egyptian economy and will cause a decline in gross domestic product and a disruption of the tourism sector, a decrease in exports and remittances from Egyptians abroad and Suez Canal revenue.