Lawmakers call for probe into ‘suspicion of wasting public funds’ by state-owned EgyptAir

CAIRO – 4 April 2024: Lawmaker Maha Abdel-Nasser, a member of the House of Representatives from the Egyptian Democratic Party, has submitted a briefing request addressed to the Prime Minister and Minister of Civil Aviation, regarding suspicions of wastage of public funds in a deal involving the sale of 12 aircraft from the EgyptAir fleet, Al Shorouk newspaper reported on Thursday.

A few days ago, Yahya Zakaria, the Chairman of the Board of Directors of the Holding Company for EgyptAir, informed Al Sharq that the company has entered into a contract to sell 12 Airbus A220-300 aircraft. According to Zakaria, the decision to sell these aircraft was made due to their unsuitability for climatic conditions. He further clarified that the proceeds from the deal would be utilized to repay the loan taken out for the purchase of the aircraft.

In her briefing request, Abdel-Nasser stated that the remarks made by the Chairman of the company suggest that EgyptAir did not conduct proper economic and engineering feasibility studies before finalizing this deal. She further asserted that the only plausible explanations for such actions by companies are either technical errors in determining the company’s needs or that the deal was motivated by non-commercial or indirect interests.

The lawmaker called for an immediate and transparent investigation into the circumstances surrounding both the purchase and sale of the aircrafts. She emphasized the need to determine the reasons behind the alleged wastage of public funds in what she termed a "provocative manner." Furthermore, she urged that if it is proven that officials of the company and the Ministry of Aviation are responsible for draining the state treasury's resources, they should be held accountable for their actions.

Another lawmaker Mahmoud Qassem, member of the Legislative Committee in the House of Representatives, submitted on April 1 a parliamentary question that should be addressed to Lieutenant General Mohamed Abbas Helmy, Minister of Civil Aviation, regarding this deal, Al Masry Al youm reported.