Egyptian Cabinet denies flag carrier privatized, sold to foreign parties

CAIRO – 6 November 2020: The Media Center of the Egyptian Cabinet has denied reports about privatization of the country’s flag carrier, EgyptAir, and placing it under the control of foreign parties.

The Cabinet’s center said in a report on Friday that it contacted the Civil Aviation Ministry, which denied the news and affirmed that EgyptAir is wholly owned by the state. The ministry denied any intention to privatize the company.

The ministry revealed a comprehensive plan to develop performance of all activities related to the companies and bodies affiliated to the flag carrier, the ministry noted.

The ministry also referred to a Memorandum of Understanding earlier signed between EgyptAir and the Ghanaian government, the ministry said, according to which EgyptAir would become a strategic partner in establishing a new airline affiliated with the Ghanaian side.

The project is set to benefit from the vast experience of EgyptAir, as the oldest African air carrier and as the Egyptian flag carrier provides services to more than 80 destinations around the world.

Egyptian Ambassador to Accra Emad Hanna took part in the signing ceremony.

EgyptAir Board Chairman Rushdi Zakaria asserted the importance of boosting cooperation and exchanging expertise with the states of the African continent in the different domains including air transport.

Zakaria pointed out to the depth of historical ties between Egypt and Ghana, asserting the ability of EgyptAir to support cooperation between both countries in the field of civil aviation and meet the logistics needs to establish a strong aviation company capable of competing in the international market and achieving the strategic targets of both sides.