EgyptAir targeting improved full-year profits; no LCC plans yet, as new entrants increase pressure

EgyptAir Holding company Chairman and CEO, Hussein Massoud, stated the carrier plans to increase full-year profits by nearly a third, commenting that the carrier is currently “making a profit", and adding: "We are planning to see more this year”. The company is targeting a USD132 million profit in the 12 months to Jun-2011, a 31% year-on-year increase. [3523 words]

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This report contains the following subheadings:

• No immediate IPO plans 
• No immediate LCC plans either
• Continuing with fleet and network expansion
• EgyptAir launches in flight mobile and internet services 
• EgyptAir dominates the Egypt market
• …but facing competition from Air Arabia Egypt 
• Al Misria Univeral Airlines becomes Egypt’s first private carrier; Nile Air and Nesma Airlines to launch in 2010 
• Nile Air and Nesma Airlines to launch
• EgyptAir positive for business growth and African aviation
• EgyptAir extends codeshare agreements with TAP Portugal and Turkish Airlines 
• Al-Kharafi Group cooperation agreement
• EgyptAir in-flight services reports growth; Aero Plast reports growth
• Egypt well positioned for economic recovery, two new carriers planned

This report contains the following charts and tables:

• Details of Middle East Airline IPOs: Kuwait National Airways, Air Arabia, Royal Jordanian and Jazeera  
• Middle East airlines planning IPOs: Qatar Airways, Saudi Arabian Airlines, Saudi Arabian Catering, Middle East Airlines, Emirates, nasair and Kuwait Airways
• EgyptAir current and future fleet: as at Aug-2010
• EgyptAir scheduled aircraft deliveries: as at Aug-2010
• Egypt domestic capacity share (seats): Aug-2010
• Egypt international capacity share (seats): Aug-2010
• EgyptAir capacity share at selected Egyptian airports: Aug-2010 
• Egypt Air capacity to African countries from Cairo: Aug-2010
• Egypt Air capacity to European countries from Cairo: Aug-2010
• Star Alliance routes from Cairo International Airport: Aug-2010
• EgyptAir codeshare partners: as at Aug-2010