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

Mukilteo’s Future of Flight executive director stepping down

Former board president to serve interim role overseeing Snohomish County’s most popular tourism attraction.

Seafood producer Keyport moves corporate headquarters to Edmonds

Family business sees Edmonds as a business friendly, maritime community that will allow for 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.

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.

How can you tell if you are getting good financial advice?

Assume that it’s still the same buyer-beware market that has always existed.

Amanda Strong (left) tries on an Angel of the Winds Arena hat as she and Courtney Brown hand out gift bags after the renaming ceremony Dec. 13 in Everett. The new name replaces the Xfinity name. (Andy Bronson / Her file)
Angel of the Winds to break ground on $60M casino expansion

“We think we’re on the cusp of becoming a major resort.”

In this Dec. 20, 2017, photo, a clerk reaches to a shelf to pick an item for a customer order at the Amazon Prime warehouse, in New York. (AP Photo/Mark Lennihan, File)
Amazon’s potential HQ2 sites leaves many cities disappointed

And yet, some municipal leaders are looking at the bright side of being rejected.

How do you retrieve an errant Boeing 737 from a muddy slope?

Turkish authorities used cranes to lift a plane that skidded off a runway.