By: Taarek Refaat
CAIRO, Feb. 17 (SEE)- Minister of Aviation Younes El-Masry said on Sunday that EgyptAir achieved a net profit of EGP 951 million during the first half of the current fiscal year 2018/2019.
"For the first time in 10 years, EgyptAir achieved these profits, praising the new reform plan and the company's employees for their efforts," El-Masry said.
He stressed that the reform policy focused on reducing expenditures and working on utilizing all possibilities resources to achieve a competitive advantage.
EgyptAir has reduced expenditures by limiting the number of external offices.
The company has also reduced the number of flights that delivered a low return, combining these flights together, and reducing the amount of imported fuel.
The recovery of tourism also led to an increase in demand for the company's flights.
Furthermore, the new aircraft fleet, which was replaced by older ones, reduced maintenance expenses, leading to a decline in expenditure.
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