EgyptAir reduces its ticket prices by 50% to European countries

An Egyptair aircraft after landing at Cairo Airport, Egypt, July 13, 2016. (Reuters)
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Updated 25 January 2021
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EgyptAir reduces its ticket prices by 50% to European countries

  • Business class tickets discounted by 35%, and economy class tickets by 25%, with discounts applicable when purchasing tickets until Jan. 31
  • Tourism revenues in Egypt plummeted by more than 69% during the last year due largely to the coronavirus disease pandemic

CAIRO: EgyptAir has announced a 50 percent discount on economy and business class tickets between Cairo and a number of European destinations.

The company offered discounts on its flights between Cairo and Paris for travel from Jan. 24 to Jan. 29, between Cairo and Amsterdam for travel on Jan. 24, 27 and 29, Cairo and London from Jan. 27 to Jan. 29 and between Cairo and Frankfurt on Jan. 28.

The company announced the continuation of discounts on flights between Egypt and Saudi Arabia, Riyadh, Dammam, Jeddah, Madinah and Al-Qassim.

Business class tickets are 35 percent off, and economy class tickets are 25 percent off, with discounts applicable when purchasing tickets until Jan. 31 and traveling until March 15, returning before March 31.

Last Thursday, the state-owned company began applying additional discounts to the price of fuel for the aviation sector, to reach 15 cents per gallon, in support of the tourism sector and to stimulate aviation.

Tourism revenues in Egypt plummeted by more than 69 percent during the last year due largely to the coronavirus disease pandemic, dropping to about $4 billion compared to more than $13 billion in 2019 due to the suspension of air traffic and travel worldwide, and the closure of borders between countries for several months.

Egypt announced an initiative to stimulate domestic tourism under the title “Winter in Egypt,” which relies on reducing the prices of domestic flight tickets.


Closing Bell: Saudi benchmark index edged up to close at 10,549

Updated 01 January 2026
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Closing Bell: Saudi benchmark index edged up to close at 10,549

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 58.39 points, or 0.56 percent, to close at 10,549.08.

Total trading turnover reached SR1.59 billion ($425 million), with 218 stocks advancing and 37 declining.

The parallel market, Nomu, added 222.72 points, or 0.96 percent, to finish at 23,519.01, as 43 stocks rose and 21 retreated. Meanwhile, the MSCI Tadawul Index increased by 6.11 points, or 0.44 percent, to close at 1,393.42.

Leading the day’s gains was Alkhaleej Training and Education Co., whose shares jumped 7.63 percent to SR20.45. Other strong performers included Consolidated Grunenfelder Saady Holding Co., up 6.60 percent to SR9.69, and Abdullah Saad Mohammed Abo Moati for Bookstores Co., which rose 6.48 percent to SR48.98.

On the downside, Naseej International Trading Co. recorded the largest decline, falling 2.44 percent to SR34.44, while National Gas and Industrialization Co. dropped 1.79 percent to SR93.10 and Nama Chemicals Co. slipped 1.32 percent to SR23.99.

Saudi Aramco Base Oil Co., or Luberef announced the signing of a memorandum of understanding with Saudi Aramco for a GIII+ production facility in Jazan.

The 18-month agreement, which may be renewed, is a key step in the Group III+ Project aimed at enhancing production capacity. The MoU is non-binding, and any future approvals, formal agreements, or financial impacts will be disclosed in line with regulatory guidelines. Luberef ended the session at SR96.10, down 0.26 percent.

Meanwhile, the Power and Water Utility Co. for Jubail and Yanbu, or Marafiq, reported receiving official notice of higher energy product prices used in production. The company estimated the financial impact for 2026 at 5.6 percent of total cost of sales, based on its most recent audited 2024 statements.

The effect is expected to appear in the first quarter of the 2026 fiscal year. Marafiq said it is working to mitigate the impact through improved production efficiency, enhanced plant reliability, optimized asset utilization, and cost reductions. The stock closed at SR36.80, up 1.03 percent.