EgyptAir Companies Turn Profit For First Time In 93 Years

EgyptAir has recorded profits across all of its companies for the first time in its 93-year history, according to statements made during a general session of Egypt’s Senate by the Minister of Civil Aviation.

The minister said the airline group posted positive results in both Egyptian pounds and US dollars as part of the current public budget cycle.

Speaking about the sector’s recent financial pressures, the minister stated that EgyptAir faced significant costs following the currency flotation period and received around EGP 20 billion in state support during that phase.

He said management had previously prioritised network expansion over immediate profitability in order to preserve the airline’s competitive position and operational reach despite difficult market conditions.

The minister added that EgyptAir and the country’s airports together form Egypt’s broader civil aviation system, describing the challenges faced in recent years as circumstances that few international carriers would have been able to withstand.

Alongside the financial update, officials said the ministry is working on improving passenger services, including upgrades to onboard meals, in-flight services, and travel products.

The ministry also outlined plans to modernise operational equipment and expand the airline’s fleet, with EgyptAir targeting the addition of 28 aircraft over the coming period.