Russian plan crash incurs EgyptAir losses of $76.5mn: Chairman

The Egyptian state-owned aviation company Egypt Air incurred losses estimated at 600 million Egyptian pounds (US$76.5 million) after the Russian plane crash in October 2015, Sherif Fathy, chairman said Monday.

Both Russia and the United Kingdom, the main tourists exporters to Egypt, halted flights to Egypt following the plan clash; a measure that leads to Egypt Air losses, Fathy added.

The chairman told the reporters that the air lines reservation in EgyptAir has declined by 60 percent during the three months following the plane crash.

Since the 2011 uprising, the company has accumulated losses of LE10 billion, with the once thriving tourism sector struggling as a whole.