EgyptAir in ‘healthy’ position despite war impact

Operations at flag carrier EgyptAir fell by almost a quarter after the start of the US-Israeli war with Iran, while the surge in jet fuel prices led to higher airfares.

The airline has resumed most of its operations, but services to Kuwait, Bahrain and Iraq (Baghdad and Erbil) remain under review, EgyptAir Holding Company chairman Ahmed Adel told CNBC Arabia, an Arabic news channel.

He said the airline is in a “healthy and good” financial position, with quarterly results set to be released at the end of next month.

EgyptAir also plans to launch its first flight to Los Angeles, he said.

Adel said a fleet modernisation plan was finalised two or three years ago to acquire 19 Airbus A350-900 aircraft and 18 Boeing 737-8 Max planes.

The company has begun receiving aircraft and the fleet is expected to reach 97 by the end of the 2026-27 fiscal year. The airline is targeting 125 aircraft by 2030.

The chairman said aircraft deliveries were delayed by about a year, but no further postponements are expected.

In April the Egyptian cabinet said passenger volume at the country’s airports rose 8 percent year on year in the March 1-29 period, despite the impact of the war.

The number of passengers in January and February reached 4.6 million, up from 4 million a year earlier and a 53 percent increase on 2024.

The London-based World Travel and Tourism Council said in March that the Middle East’s tourism sector was incurring losses of at least $600 million per day in international visitor spending due to the conflict.

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