CAIRO: Egypt’s tourism revenue jumped 77 percent in the first half of 2018 to around $4.8 billion compared with the same period last year, a government official told Reuters.
Egyptian tourism has been gradually recovering from a 2011 downturn triggered by the uprising that ousted president Hosni Mubarak, helped by a currency float in late 2016 that halved the pound’s value and made the country a relatively cheap bet for foreign visitors.
The tourism sector is a pillar of the country’s economy and a key earner of foreign currency.
The official, who declined the be named, said visitor numbers during the first half of 2018 jumped 41 percent from a year before to about 5 million. A total of 14.7 million people visited Egypt in 2010 before the uprising.
“Indicators suggest the sector will earn about $9 billion by the end of this year,” the official said, adding there were expectations of greater traffic from western Europe, Italy, Germany and Ukraine toward the end of the year.
That figure would mark a jump from last year’s $7.6 billion.
Egypt’s tourism industry had been hit by years of political upheaval and militant violence.
The country has witnessed a rise in attacks on soldiers and police since then army chief President Abdel Fattah El-Sisi toppled Islamist leader Mohamed Mursi in 2013 after mass protests against his rule.
Later, the tourism industry was dealt a devastating blow in 2015 when militants bombed a Russian airliner carrying holidaymakers from Sharm El-Sheikh, killing all passengers and crew on board.
The Daesh group, which has killed hundreds of policemen and soldiers in an insurgency based mainly in North Sinai, claimed responsibility for the airline attack.
El-Sisi has pledged to wipe out the militants in a large counter-terrorism operation earlier this year.
Egypt’s tourism revenue jumps 77 pct in first half — government official
Egypt’s tourism revenue jumps 77 pct in first half — government official
- The tourism sector is a pillar of the country’s economy and a key earner of foreign currency
- The official said visitor numbers during the first half of 2018 jumped 41 percent from a year before to about 5 million
PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025
RIYADH: Saudi Arabia’s Public Investment Fund-backed AviLease achieved exceptional performance and sustainable business growth during 2025, supported by the strategic expansion of its global platform.
According to its financial results for 2025, AviLease recorded total revenues of $664 million, an annual increase of 19 percent, driven by disciplined growth in its asset portfolio and strong performance in aircraft remarketing amid sustained global demand for modern, fuel-efficient aircraft, the Saudi Press Agency reported.
Profit before tax doubled compared to the previous year, reaching $122 million. The year witnessed an expansion in AviLease’s portfolio, reaching 202 owned and managed aircraft, leased to over 50 airline companies in more than 30 countries.
The total value of the company’s assets stabilized at $9.3 billion. AviLease maintained a 100 percent fleet utilization rate, reflecting the resilience of its business model, the efficiency of its asset management, and the strength of its strategic relationships with airlines around the world.
AviLease concluded purchase agreements for aircraft from Airbus, including the A320neo family and A350F, and Boeing 737 aircraft, aiming to enhance its future asset portfolio with modern, fuel-efficient aircraft. This step will contribute to supporting future growth and meeting increasing customer demand for the latest aircraft, aligning with the Kingdom’s ambitions to become a leading global aviation hub.
AviLease strengthened its prestigious credit standing by obtaining a strong Baa2 credit ratings from Moody’s and BBB from Fitch, reflecting its financial solidity, managerial discipline, and efficiency in managing leverage. The company also successfully issued senior unsecured bonds worth $850 million last November under Regulation 144A/RegS. This issuance contributed to diversifying its funding sources and enhancing its financial flexibility.
Commenting on the results, AviLease CEO Edward O’Byrne said: “This exceptional performance reflects the quality of the company’s investment portfolio, the strength of its partnerships with airlines, and its strategic focus on responsibly deploying capital into highly sought-after, efficient, modern aircraft assets.”
He added: “As aviation markets continue to grow, AviLease is strategically positioned to continue its expansion plans and deliver sustainable long-term value for shareholders, contributing to the Kingdom’s ambitions.”
Throughout 2025, AviLease continued to play a pivotal role in the Kingdom’s growing aviation sector and contributed directly to the launch and scaling of the new national carrier, Riyadh Air, by completing a sale and leaseback transaction for a Boeing 787-9 aircraft, which thereby became the first aircraft to join the airline’s fleet.
AviLease also established a strategic partnership with Hassana Investment Co. This partnership aims to provide an opportunity for local and international investors to enter the aircraft financing asset class and benefit from AviLease’s technical expertise and operational capabilities to support partnership growth and enhance performance.
Hassana Investment Co. has agreed to acquire an initial portfolio of 10 modern aircraft from AviLease.
