EgyptAir lost about $185 million last year

CAIRO — Egypt’s civil aviation minister said the national airline lost an estimated 1.3 billion Egyptian pounds, or around $185 million, over the last fiscal year.

Wael el-Maadawi said Friday that EgyptAir’s losses for the year ending this month were mainly due to an increase in fuel prices, the devaluation of the Egyptian currency and continuous strikes within the company. Losses the previous year were around double the 2012-2013 figures.

On Thursday, pilots staged a 10-hour sit-in at Cairo’s international airport to demand management changes and bonus payments, delaying 22 flights.

The figures push to more than 7 billion pounds, or nearly 1 billion dollars, the total losses the carrier has suffered since the 2011 uprising that toppled longtime autocrat Hosni Mubarak. A plunge in tourism has also hit the airline.

More in Herald Business Journal

Exec director of Future of Flight in Mukilteo stepping down

A former board president will temporarily lead Snohomish County’s most popular tourism attraction.

Seafood producer Keyport moves corporate HQ to Edmonds

The family business sees the city as business friendly — and able to accommodate expansion.

Peoples, HomeStreet banks bump lowest salaries after tax cut

The banks with Snohomish County branches will raise minimum salaries for employees to $15 an hour.

Amazon opens store with no cashiers, lines or registers

The Seattle store allows shoppers to use a smartphone app to pay for items they want.

Trump hits solar panels, washing machines with tariffs

The administration cast the decisions as part of his pledge to put American companies and jobs first.

Electroimpact cuts Mukilteo staff by 9 percent

“What we’re missing now is a monster anchor project,” the company’s VP said.

Exotic animals find compassionate care in Bothell (video)

At the Center for Bird and Exotic Animal Medicine, vets treat snakes, hedgehogs and even kangaroos.

Top CEOs take 4 days to earn a Bangladesh worker’s life pay

Oxfam has sought to put inequality at the heart of this week’s deliberations of the rich and powerful.

Most Read