Cabinet denies reports of EgyptAir’s privatisation

The Egyptian Cabinet that the rumors alleging the government’s plans to privatise EgyptAir for the benefit of foreign parties are baseless.

The Cabinet’s statement came after claims of privatization circulated on social media and other websites.

The Ministry of Civil Aviation, in an explanatory report, that EgyptAir is a national company wholly owned by the state, and that there is no intention to privatize it, adding that a comprehensive plan has been laid down to develop EgyptAir and its subsidiaries.

However, the report did say that the airline signed a memorandum of understanding with Ghana to become a strategic partner in developing a new airline affiliated with the Ghanaian government.

This move came as part of EgyptAir’s constant endeavor to develop the air transport industry across the African continent, the ministry said.