{"id":27578,"date":"2017-11-22T17:36:55","date_gmt":"2017-11-22T17:36:55","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2017\/11\/22\/the-egyptian-economic-recovery-is-reaching-out-the-transport-sector\/"},"modified":"2020-08-11T11:30:04","modified_gmt":"2020-08-11T09:30:04","slug":"the-egyptian-economic-recovery-is-reaching-out-the-transport-sector","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2017\/11\/22\/the-egyptian-economic-recovery-is-reaching-out-the-transport-sector\/","title":{"rendered":"The Egyptian economic recovery is reaching out the transport sector"},"content":"\nPassengers are boarding\u00a0the EgyptAir\u2019s routes again. That is the conclusion of the company\u2019s CEO Safwat Musallam\u00a0statement to our colleagues of Reuters, in Sharja: \u201cThis year the company will transfer from a loss.\u201d\nThe obvious reason is that\u00a0EgyptAir is one of the most famous airlines in North Africa. It is also a very important stakeholder in the transportation\u2019s sector in Egypt. Since few years, its negative balance sheet had a bas impact on the sector\u2019s economic dynamics. In order to carry on this year\u2019s good results and boosting the performance, the company is implementing some strategic measures. \u00a0\nCEO Safwat Musallam noted that the priority of the carrier\u2019s managing bord is to cut costs by dropping unprofitable routes and reducing workforce, which could be lowered by up to 500 employees, a 10 % decrease of the it\u2019s global staff. \u00a0\nMeanwhile, EgyptAir is also commited to kick-start its economic recovery on the mid-term by reviving investments. Therfore, the state-owned firm signed a letter of intent aiming at purchasing 12 Bombardier CS300 jets, last week, at the Dubai Airshow. \u201cThose aircraft would start to be delivered from the end of 2018 or early 2019 as part of plans to replace and increase the airline\u2019s fleet to up to 100 jets by 2025.\u201d\nOn the other hand, The Airline signed an agreement with the leasing company AerCap in order to lease 15 Airbus A320neos and 6 Boeing 787s. Regarding the financing modalities of these projects, Musallam said that all options are opened.\nDiscover out our latest videos about the economic news in Egypt :\u00a0\n\n\u00a0\n\n","author":78,"featured_media":3315,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5761,5751,5750,5762],"location":[5600],"class_list":["post-27578","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-decision-makers","tag-economy","tag-news","tag-trending","location-egypt"],"short_url":"","have_related_news":null,"chapo":"After having faced almost 10 years of global financial crisis due to the political turmoil that affected the tourism sector in the country, Egypt\u2019s national airlines transportation company EgyptAir is returning to make net profit again, announced the Chairman of the airline carrier Safwat Musallam.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/avion-egyptair-2.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/avion-egyptair-2.jpg 550w","sizes":"550px","alt":"The Egyptian economic recovery is reaching out the transport sector 1","width":550,"height":360,"ratio":0.67,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/avion-egyptair-2-897x598.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/avion-egyptair-2-897x598.jpg 1170w","sizes":"1170px","alt":"The Egyptian economic recovery is reaching out the transport sector 1","width":1170,"height":658,"ratio":0.67,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Egyptian economic recovery is reaching out the transport sector - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Passengers are boarding\u00a0the EgyptAir\u2019s routes again. That is the conclusion of the company\u2019s CEO Safwat Musallam\u00a0statement to our colleagues of Reuters,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecomnewsmed.com\/en\/2017\/11\/22\/the-egyptian-economic-recovery-is-reaching-out-the-transport-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Egyptian economic recovery is reaching out the transport sector - Ecomnews Med\" \/>\n<meta property=\"og:description\" content=\"Passengers are boarding\u00a0the EgyptAir\u2019s routes again. 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