Egyptian Political Upheaval Hurting EgyptAir, Company Puts 1/3 of Fleet up for Lease

According to FlightGlobal EgyptAir will put a third of its aircraft out on lease as the company struggles financially due to the recent overthrowing of Egyptian president Hosni Mubarak.

The planes being lease will include pilots and crew in order to further limit expenses. Among those planes being offered is the 777-300 ER which is the largest plane in EgyptAir’s fleet. The airline operates four of the extended range versions of the 777-300 and plans to lease them to other carriers indefinitely.

EgyptAir currently has a fleet of nearly 70 planes and is planning on putting 25 of those up for lease with potential plans to offer 40% of its fleet for lease according to a company spokesperson.

The recent political situation in Egypt has drastically cut tourism to the country which has had an effect on airlines that offer service to Egypt. With the situation still in flux and a clear path toward a new government yet to be fully established, it may be some time before EgyptAir will be able to resume normal operations with its full fleet of aircraft in service.

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