CAIRO: Egypt will be launching another airline, under the title of Air Sphinx by the end of this year.
After EgyptAir’s massive losses during the pandemic, the new low-cost airline is an effort to revive the aviation sector and increase profits, reported CNBC Arabia.
Additionally, it will encourage the flow of tourism within and outside of Egypt, according to Elhamy El-Zayat, the former head of the Egyptian Tourism Federation.
Air Sphinx will operate from the Sphinx Airport in the 6th of October city, he added.
High-speed rail line
Egypt-based Elsewedy Electric, in partnership with Germany’s Deutsche Bahn International Operation, has signed a deal to operate and maintain the Egyptian high-speed rail line.
The scope of work includes the railway’s principle line and cargo rail networks, reported MEED.
SCZONE signs MOU with Toyota Tsusho
The Suez Canal Economic Zone has signed a memorandum of understanding with Japanese tycoon Toyota Tsusho Corp.
This comes as part of a plan to increase Japan’s presence in infrastructure and renewable energy-related projects, reported Egypt today.
Both sides will benefit from this deal, according to the general manager of Energy Infrastructure Projects at Toyota Tsusho Corp.