Banque Du Caire Mulls Contributing US$ 10 Mln To EgyptAir Loan

Banque Du Caire studies contributing to the loan which Banque Misr earlier approved to offer for EgyptAir Company in order to buy two Boeing 737-800 from the Boeing Commercial Airplane Company, Seattle, USA.

Amwal Al Ghad was informed that Banque Du Caire considers contributing US$ 10 million (EGP 60 million) to the finance amounting to US$ 58 million (EGP 360 million). EgyptAir Company has a strong capital base which attracts banks to lend it.

EgyptAir Company signed a contract in 2009 with Boeing Company to buy 11 Boeing 737-800. After receiving the two Boeing 737-800, EgyptAir will have 21 planes of this kind and 80 planes of all kinds. The 737-800 Boeing accommodates 160 passengers.

Sources said EgyptAir received three loans last year from local banks to finance the operational capital after the crisis that hit airline industry following the Arab Spring. EgyptAir received finance of US$ 191 million from the National Bank of Egypt (NBE), Banque Misr, Banque Du Caire and National Société Générale Bank (NSGB) for buying seven airplanes and three engines.