Several private Egyptian airliners may face bankruptcy following the September 11 terror attacks in the US. The companies reported that frequent cancellations cause them great losses, as 90 percent of their flight activity is directed at US or European destinations.
Head of the AMC Airline Company, Said Saber, said in this regard that his company now faces losses of half a million dollars a month, with monthly maintenance and insurance costs reaching $120,000 per plane.
The Egyptian parliamentary committee for transport and communication is scheduled to meet next week to discuss the crisis, reported Al-Sharq Al-Awast . — (Mena Report)
© 2001 Mena Report (www.menareport.com)
