By Akram Medhat
EgyptAir held two meetings with Misr Petroleum Company to start paying the Ministry of Petroleum's dues owed by EgyptAir for fuel purchased at the global price, in coordination with the Ministry of Civil Aviation.
This important step came after EgyptAir achieved profits approaching EGP 1 billion for the first time in 10 years during the first half of the current fiscal year 2018/2019, as part of completing its development plans while fulfilling its obligations to the state.
This is in line with the plan launched by the Ministry of Civil Aviation to develop EgyptAir, increase profit rates and begin paying off all its debts, and reflects the ministry's keenness to prevent the civil aviation sector's arrears to the state from growing.
It is worth noting that EgyptAir achieved a consolidated net profit of EGP 951 million from the activity of its subsidiaries in just 6 months, during the first half of the current fiscal year 2018/2019.
This was announced during the meeting held today by Lt. Gen. Younis Al-Masry, Minister of Civil Aviation, with Captain Ahmed Adel, Chairman of EgyptAir Holding Company, and a number of the company's leaders, to present the plan of EgyptAir Airlines and its future goals until 2025, which are being worked on, with implementation mechanisms and planned timelines set.
