Egyptair to defer aircraft deliveries
Egypt's Minister for Civil Aviation, Sharif Fathi, has announced EgyptAir will defer the delivery of new aircraft following recent changes to the country's currency exchange system, reports ch-aviation.
Fathi said the factors that affected the decision included government's decision to float the Egyptian Pound earlier this month as part of the terms to secure a USD12 billion loan from the International Monetary Fund (IMF). Although it has since devalued nearly 100% against the greenback, the move is expected to ease pressure on the Pound in the long run.
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