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EgyptAir targeting improved full-year profits; no LCC plans yet, as new entrants increase pressure

18-Aug-2010

EgyptAir Holding company Chairman and CEO, Hussein Massoud, stated the carrier plans to increase full-year profits by nearly a third, commenting that the carrier is currently “making a profit", and adding: "We are planning to see more this year”. The company is targeting a USD132 million profit in the 12 months to Jun-2011, a 31% year-on-year increase. [3523 words]

Unlock the following content in this report:

Subheadings:

  • No immediate IPO plans 
  • No immediate LCC plans either
  • Continuing with fleet and network expansion
  • EgyptAir launches in flight mobile and internet services 
  • EgyptAir dominates the Egypt market
  • …but facing competition from Air Arabia Egypt 
  • Al Misria Univeral Airlines becomes Egypt’s first private carrier; Nile Air and Nesma Airlines to launch in 2010 
  • Nile Air and Nesma Airlines to launch
  • EgyptAir positive for business growth and African aviation
  • EgyptAir extends codeshare agreements with TAP Portugal and Turkish Airlines 
  • Al-Kharafi Group cooperation agreement
  • EgyptAir in-flight services reports growth; Aero Plast reports growth
  • Egypt well positioned for economic recovery, two new carriers planned

Graphs and data:

  • Details of Middle East Airline IPOs: Kuwait National Airways, Air Arabia, Royal Jordanian and Jazeera  
  • Middle East airlines planning IPOs: Qatar Airways, Saudi Arabian Airlines, Saudi Arabian Catering, Middle East Airlines, Emirates, nasair and Kuwait Airways
  • EgyptAir current and future fleet: as at Aug-2010
  • EgyptAir scheduled aircraft deliveries: as at Aug-2010
  • Egypt domestic capacity share (seats): Aug-2010
  • Egypt international capacity share (seats): Aug-2010
  • EgyptAir capacity share at selected Egyptian airports: Aug-2010 
  • Egypt Air capacity to African countries from Cairo: Aug-2010
  • Egypt Air capacity to European countries from Cairo: Aug-2010
  • Star Alliance routes from Cairo International Airport: Aug-2010
  • EgyptAir codeshare partners: as at Aug-2010
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