Yehia Zakaria, the Chairman and CEO of Egyptair Holding Company, the parent company of Egypt’s flag carrier has denied any plans to denationalise the airline, in an interview with CNN published on Thursday.
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“We are not going to be privatised— Egyptair is the flag carrier and the only bird carrying the flag of Egypt all over the world,” Zakaria said, stressing that the airline “is not for sale.”
Zakaria further highlighted that the company has allocated funds to refurbish its current fleet, as part of its fleet improvement strategy, adding that the market is now “tough,” especially with all other airlines seeking new additions to their fleets. “Everybody needs aeroplanes, if we order aeroplanes now, we will not receive them before two years,” he said.
According to Zakaria, Egyptair currently flies to 69 destinations, with plans to expand its network to 110 destinations as part of its growth strategy.
In addition, the airline is also expanding its fleet with two Boeing 787 Dreamliner aircraft and seven Airbus A320neo family aircraft scheduled for delivery by year-end.
Addressing the key challenges set to face the carrier over the months ahead, Zakaria revealed that his biggest worry is not finances, but rather the intense market competition. “..The competition is very tough, and the situation in the world— you had COVID, Russian Ukraine war, so the environment is not balanced,” he added.
