EgyptAir raises locally purchased tickets prices for flights taking off abroad

EgyptAir has increased its prices for tickets purchased from Egypt for flights taking off from abroad by 10-20 percent, a source at the airline told Ahram Arabic news website.

The aim of the price change is to increase the flow of foreign currency into the country, as many Egyptians prefer purchasing tickets for their relatives abroad.

The new price increase also aims to limit the “exploitation” of tourism companies and individuals who buy the ticket in Egypt using local currency and collecting its price in dollars to benefit from the exchange rates.

Egypt has been suffering a dollar shortage in recent years.

The Egyptian pound was devalued in March by 13 percent in an effort to close the gap between the official and black market rates, but the move has failed to boost dollar liquidity or close the gap.

Source: Ahram Online