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EgyptAir to launch low-cost subsidiary within months: CEO

19-Jul-2011 2:42 PM

EgyptAir Holding Company chairman and CEO Hussein Massoud reportedly stated the carrier has resurrected plans to launch a low-cost subsidiary by the end of 2011 (Aviation Exchange, 18-Jul-2011). Mr Mussoud stated the carrier is still reviewing which airport the LCC will use as its home base, adding that while Alexandria is an option, "we have different options and we have not yet decided". He added that all financing options are being considered though "cooperation with the government" is the favoured option. The comments were made after the airline confirmed that its two-phase summer recovery schedule has seen capacity restored to above 2010 levels, with load factors nearing their pre-crisis levels of 72%.

EgyptAir Holding Company: "We decided before the [political] revolution to launch a low cost carrier [LCC], but not under the name of EgyptAir. We hope [to establish it] at the end of this year or at the beginning of next year. We think we’ll start with four aircraft, maybe Airbus A320s," Hussein Massoud, chairman and CEO. Source: Aviation Exchange, 18-Jul-2011.