News

KLM Royal Dutch Airlines Suspends Flights to Egypt Citing ‘Economic Reasons’

KLM Royal Dutch Airlines Suspends Flights to Egypt Citing ‘Economic Reasons’

airport

KLM Royal Dutch Airlines announced on Wednesday that it has decided to temporarily suspend flights to Cairo effective 8 January 2017 as a result of “economic reasons”.

“The devaluation of the Egyptian pound and the decision of the Central Bank of Egypt to impose restrictions on the transfer of foreign currency out of Egypt have a negative impact on results of KLM,” said KLM in a statement published on its website.

“The final flight to Cairo (for the foreseeable future) will depart from Amsterdam on 6 January 2017, with the final flight returning to Amsterdam on 7 January 2017,” continued the statement.

“After suspension of the KLM service to Cairo, Air France -KLM will maintain its presence in the Egyptian capital, with Air France operating six weekly flights out of Paris. Passengers with reservations to travel from Amsterdam to Cairo after 8 January 2017 will be rebooked to the most suitable alternative.”

Egypt’s economic situation, and particularly restrictions on the transfer of foreign currency, sparked protest from airlines earlier this year. A number of international airlines, including British Airways, Air France-KLM and Brazil’s TAM Airlines had threatened to suspend ticket sales unless the government took action. Though the Egyptian government responded, easing some restrictions, KLM’s latest decision appears to be a sign that some restrictions remain untenable for business.

Egypt has been struggling to regain its rapidly depleting foreign currency reserves since the ouster of Hosni Mubarak in 2011. In the five years since, Egypt’s foreign reserves have gone down more than 50 percent, from USD 36 billion to USD 17.546 billion as of last month.

Egypt's Amr Mosaad and Mohamed Ahmed Win Silver Medals at Rio Paralympics
Egypt to Build Memorial for Mexican Tourists Killed in Western Desert

Subscribe to our newsletter


News

More in News

Archaeological Mission Unearths Ancient Pregnant Woman Burial

Egyptian StreetsNovember 14, 2018

Egyptian MP to Submit Bill Omitting Religion from National IDs to Parliament

Egyptian StreetsNovember 12, 2018

British Parliament Encourages Lifting the Travel Ban Imposed on Sharm El Sheikh

Nour EltiganiNovember 11, 2018

Egyptian Film ‘Yomeddine’ Wins at Geneva Film Festival

Mirna AbdulaalNovember 10, 2018

UN: Food Aid to Be Doubled to 14 Million Yemenis to Avert Starvation

Mirna AbdulaalNovember 10, 2018

Bedouin Tribes of ‘Sinai Trail’ Get Backing From Egypt’s Ministry of Tourism

Mirna AbdulaalNovember 10, 2018

Egyptian Committee to Amend Controversial NGO Law

Nour EltiganiNovember 9, 2018

Private School Fees in Cairo Can Cost Up to 3 Million EGP

Mirna AbdulaalNovember 8, 2018
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2017 Egyptian Streets. All Rights Reserved.