Egypt to bear LE 2.25B-losses for suspending air traffic

CAIRO – 16 March 2020: "Egypt will bear great losses, especially in the national aviation sector, after suspending air traffic until the end of March," Prime Minister Mostafa Madbouli said Monday.

Madbouli added at a press conference on Monday that the losses of the National Aviation Company, EgyptAir, will reach LE 2.250 billion as a result of the decision, explaining that the state will bear these losses.

He stressed that all these measures come as precautionary measures to prevent the outbreak of the coronavirus in the context of the government's concern for the safety of citizens. He further clarified that the Egyptian tourism sector will be at the forefront of those affected by this decision.

Moreover, Madbouli pointed out that all tourist facilities and hotels in Egypt will be sterilized during the suspension period, in order to prevent the outbreak of the virus.

Earlier on Monday, the Egyptian government decided to suspend air traffic at the Egyptian airports, from next Thursday to the end of March 2020.