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.............................. Egypt Air
Logo and Trademark..............................
EgyptAir Airlines Company (IATA Code: MS), operating as EgyptAir (Arabic: مصر للطيران, Misr Lel-Tayaran) is the Cairo-based national airline of Egypt. Wholly owned by the Egyptian government, it operates scheduled services to 70 destinations in Europe, Africa, the Middle East, the Far East, the USA, and Canada, as well as running a domestic operation. Its main base is Cairo International Airport. EgyptAir is a member of the Arab Air Carriers Organization. EgyptAir is Africa's second-largest airline and is a future member of the Star Alliance.
Egyptair was established on 7 June 1932 and started operations in July 1933 using a Spartan Cruiser on the Cairo-Alexandria route. The plane could only seat 4 (including a pilot and co-pilot). It was founded in association with the Airwork Company under the name of Misr Airwork. In 1935 12 De Havilland aircraft were added to the fleet. During the Second World War the Egyptian government took charge of the airline and its name was changed to Misr Air in 1949. In January 1961 Misr Air joined Syrian Airways to form United Arab Airlines (UAA) as a result of new political links between Egypt and Syria, but this accord was shortlived, lasting only 10 years. It retained the name for a time until it changed to EgyptAir in October 1971. EgyptAir was the first airline in the Middle East to operate jetliners. In 2002, EgyptAir became a Holding Company with nine subsidiaries to date.
EgyptAir is a state owned company with special legislation permitting the management to operate as if the company were privately owned without any interference from the government. The company is self-financing without any financial backing by the Egyptian government. The airline reported a profit of £EGP303 million in 2003/2004, £EGP443 million in 2004/2005 and £EGP485million in 2005/2006. The airline's financial year is from July to June.
EgyptAir wholly owns EgyptAir Express and Air Sinai. The airline also has stakes in Air Cairo (40%) and Smart Aviation Company (20%). It has 20,734 employees (at March 2007) In 2006/2007, Egyptair's passenger traffic increased by 12% to 6.5 million passengers. In 2007 Skytrax rated EgyptAir a 3 Star Quality Certified Airline.
In March 2007 the carrier signed an agreement with Goldman Sachs for consultation on an IPO for 20% of the holding company. Proceeds from the IPO are expected to raise a total of US$900 million, which will be used to purchase 12 new aircraft, increasing EgyptAir's fleet to 62 jets.
EgyptAir launched its regional jet division in June 2007. The new subsidiary called EgyptAir Express will operate Embraer E-170s. The new subsidiary will connect Cairo to the domestic airports of Sharm El-Sheikh, Hurghada, Luxor, Aswan and Alexandria but will operate selected international services in the latter half of 2007 to complement the parent company's operations. A further six Embraers are also held on option and are expected to be converted to firm orders in October 2007 (either Embraer E-190 or Embraer E-195).
On the 16th of October 2007 the Chief Executive Board of Star Alliance voted to accept EgyptAir as a future member. The airline has forged commercial and cooperative agreements with several members of Star Alliance includng Lufthansa, Singapore Airlines, Austrian Airlines, Thai Airways International, Swiss International Airlines, South African Airways, TAP Portugal, Turkish Airlines and bmi. Assimilation into the alliance is expected in 2009. The carrier is also a founding member of Arabesk.
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