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Egypt Buys Nine New Boeing Airplanes for $US 894 Million

Egypt Buys Nine New Boeing Airplanes for $US 894 Million

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EgyptAir has expanded its fleet with nine new Boeing 737-800 airplanes, announced Egypt’s State Information Service.

The $US 864 million deal is financed by the United Arab Emirates’ Dubai Aerospace Enterprise.

EgyptAir’s fleet already includes 20 of the 737-800 aircrafts, with the new aircrafts aimed at boosting EgyptAir’s growth.

“Over the years, Boeing has played an important role in our growth plan,” Chairman and CEO of EgyptAir Holding Company Safwat Musallam said after the deal was announced.

EgyptAir has been struggling to stay afloat since the January 25 revolution in 2011. While EgyptAir has managed to significantly cut its losses in the past few years, recent terror incidents in Egypt and the EgyptAir plane crash have impacted its business.

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