With around 163 million euros, the Egyptian state will take the state carrier Egyptair under the wings. According to local media reports, the money is paid out via the central bank and is a state-guaranteed loan. The Ministry of Finance gave the green light for this step on September 29, 2020.

Previously, President Abdel Fattah al-Sisi granted the finance department a corresponding authorization. Furthermore, the state holding company responsible for airports and airlines will receive a further 53,77 million euros. Egyptair is said to have secured further loans on the capital market. These are primarily used to pay leasing installments and foreign currency loans.

It is not the first injection of funds from the state of Egypt. In May 2020, the payment of salaries was secured with a state-secured central bank loan in the amount of 108,39 million euros. According to reports, Egyptair was no longer able to pay the wages and salaries due to the Covid-19 crisis and the extensive cessation of flight operations. The flight operations of the African carrier have been starting up again gradually since July 1, 2020.