Egyptair

Egyptair
  • Country: Egypt
  • Website: egyptair.com
  • Callsign: Egyptair
  • Codes: MS MSR

Egyptair Outlook 2024

EgyptAir, the flag carrier of Egypt, is poised for significant growth and expansion in 2024 despite recent challenges. The airline is focusing on restoring its operational capacity efficiently and expanding its fleet and network to meet increasing demand.

In 2023, EgyptAir achieved a notable 12% increase in passenger numbers and a 77% increase in aircraft occupancy rates compared to the previous year. The airline aims to have a fleet of 125 aircraft to operate profitably, up from its current 91 planes. To support this growth, EgyptAir signed a lease agreement for 18 new Boeing 737-8 aircraft, with deliveries scheduled for 2025-2026.

EgyptAir is also expanding its route network, with plans to reach 96 destinations, up from the current 72. The airline recently launched direct routes to Manchester, Delhi, Dhaka, New Jersey, and Narita. It is also exploring new routes to Jakarta and Shanghai in the near future.

However, despite improvements, African airlines, including EgyptAir, are projected to remain loss-making in 2024, although positive operating profits are expected. The airline reported a loss of $990 million in June 2022.

To address its challenges, EgyptAir is undergoing a comprehensive restructuring as recommended by Egypt’s House of Representatives. The airline is also deepening ties with other carriers like Etihad Airways to enhance travel options for customers.

Looking ahead, passenger traffic in Egypt is forecast to reach nearly 7 million by 2026, up from 5.3 million in 2021. EgyptAir is positioning itself to capitalize on this growth through fleet expansion, network optimization, and strategic partnerships. With the right strategies in place, EgyptAir has the potential to soar to new heights in 2024 and beyond.