The Egyptian Cabinet said on Friday that the rumors alleging the government’s plans to privatize EgyptAir for the benefit of foreign parties are false. The Cabinet’s statement came after claims of privatization circulated on social media and other websites. The Ministry of Civil Aviation also denied the news, emphasizing that the claims were baseless. This move came as part of EgyptAir’s constant endeavor to develop the air transport industry across the African continent, the ministry said. The EgyptAir Holding Company, established in 2002, includes nine subsidiaries.

Source: Egypt Independent November 06, 2020 11:37 UTC