EgyptAir's latest 737-800 is delivered to Cairo

EgyptAir's 15th B737-800 landed on Cairo for the first time yesterday after a 14 hours flight from Boeing factory in Seattle.



“With this new aircraft, EgyptAir fleet currently comprises 70 aircraft with the latest technology and services” announced eng Hussein Massoud, EgyptAir holding chairman and ceo. he added “we aim at providing our customers with the best products and services that can meet their demand.”
Receiving the newest B737-800 at Cairo Airport, Capt Alaa Ashour, EgyptAir airlines chairman said “the new plane, as a medium range aircraft, will operate on EgyptAir’s African and European destinations. this plane accommodates 24 business class seats in order to meet the demand on business travel.”
The seat pitch on the EgyptAir 737 has been increased to hit 48’ which exceeds the international norm on medium range aircraft. further, It is also equipped with video-on-demand (vod) entertainment features and laptop power outlets.
EgyptAir   has five more of the type on order with deliveries planned before the end of 2012.

Source 

Egyptair sees full-year profit up, no IPO for now

CAIRO (Reuters) - Egyptair, Egypt's flag carrier and one of Africa's largest airlines, aims to boost full-year profit by nearly a third as it rebounds from the global economic downturn, a senior executive said on Sunday.

"We are making a profit," said Hussein Massoud, chairman and chief executive officer of the Egyptair holding company. "We are planning to see more this year."

The firm aims to make a profit of 750 million Egyptian pounds in the year to June 2011, up from 573 million pounds in 2009/10, he said.

Egyptair, a member of the Star Alliance network, is pressing ahead with plans to expand its fleet, Massoud told reporters on the sidelines of a press conference to announce plans for an international airshow in Egypt.

"We turned the crisis into an opportunity and have advanced our receiving of aircraft," he said, adding the firm has received an Airbus A330 one year ahead of schedule.

The firm was expecting four Boeing 737-800 aircraft by the end of 2010 and two 777-300 aircraft in November and December.

The firm also said an initial public offering (IPO) was not being planned, but was an option for the future.

"Three to four years ago we thought about an IPO, but now our status is healthy and we are in no need of such things. But no one knows the future," Massoud said.

Egyptair recently started flights to Dar es Salaam in Tanzania and Abuja in Nigeria and plans to add more destinations and more frequent services in Africa.

Asked whether the company planned to set up a new operation to face up to new, low-cost rivals, he said: "There may be some planning but there is no project for now. We are thinking what is the solution for facing low cost carriers".

Source