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

Egypt’s Sharm El Sheikh Airport Leads Africa’s Top Fastest Growing Airports

Egyptian StreetsDecember 9, 2019

Real Estate Mogul Samih Sawiris Acquires Thomas Cook Germany

Egyptian StreetsDecember 7, 2019

Egyptian Woman Becomes Country’s First Flight Attendant with Down Syndrome

Egyptian StreetsDecember 5, 2019

Egypt’s Climate Change Performance Recognized in CCPI Report

Egyptian StreetsDecember 5, 2019

Tunisia Becomes First Country in the MENA Region to Introduce Sex Ed in Schools

Egyptian StreetsDecember 3, 2019

Egyptian Shaabi Singer Shaaban Abdel Rahim Dies Aged 62

Egyptian StreetsDecember 3, 2019

Free Family Planning Services to Be Provided Nationwide This December

Egyptian StreetsDecember 1, 2019

World AIDS Day: 13,000 Living with HIV in Egypt Despite Efforts to Combat Infection

Egyptian StreetsDecember 1, 2019