Egypt’s hotels to operate at full capacity for first time since start of pandemic

Hotels, banks and office buildings by the River Nile in Cairo, Egypt. (Reuters)
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Updated 25 October 2021
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Egypt’s hotels to operate at full capacity for first time since start of pandemic

  • Assistant Tourism Minister Abdel Fattah Al-Assi said the government was allowing hotels to operate at full capacity while obliging them to follow strict precautionary measures
  • The country’s destinations are on the road to recovery – these include popular resorts such as Hurghada, Marsa Alam and Sharm El-Sheikh and cultural sites in Luxor and Aswan

CAIRO: Egypt’s hotels will be allowed to operate at full capacity, the government has said, ending a previous restriction that capped it at 70 percent as part of measures to limit the spread of COVID-19.

It is the first time they will run at full capacity without operating restrictions since March 2020. 

Assistant Tourism Minister Abdel Fattah Al-Assi said the government was allowing hotels to operate at full capacity while obliging them to follow strict precautionary measures.

Hotels have been operating at 70 percent capacity since July. 

They were banned from operating at the start of the pandemic until some health and safety standards were met.

Those hotels that met the standards and obtained certificates were only allowed to operate at a quarter of their capacity, before the government raised that to 50 percent in late June.

The decision comes as the tourism sector begins to recover from the effects of the pandemic.

According to a report from the Egyptian Association for Tourism and Archaeological Development, the country’s recreational destinations are on the road to recovery. These include popular resorts such as Hurghada, Marsa Alam and Sharm El-Sheikh and cultural sites in Luxor and Aswan.

Minister of Tourism and Antiquities Khaled Al-Anani said earlier: “The Egyptian tourist destination is a safe destination and is unique in its excellence throughout the year and in its unparalleled tourist and archaeological components.”

He said the country was working to enhance these tourism and archaeological components by creating a new integrated product that would allow tourists to have a unique and distinctive tourism experience and give them an opportunity to enjoy different tourist patterns during their visit to Egypt.

Tourism revenue reached $4 billion in 2020, down from $13.03 billion in 2019.

About 3.5 million tourists visited the country during the first six months of this year, the same number of people who visited Egypt for the whole of last year.


PIF-backed AviLease achieves revenue of $664m and 19% growth in 2025

Updated 27 February 2026
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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.