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Egypt sets terms for dollar payments to foreign airlines

2016-03-06 18:53:53| Airlines - Topix.net

Egypt's civil aviation ministry has announced a new agreement for foreign currency payments to international airlines, who have been unable to repatriate earnings due to banking restrictions, Reuters reports. Last week Air France-KLM publicly announced that operations were becoming 'unsustainable' due to the delays in releasing dollars from Egypt to cover essential costs such as salaries, aircraft leasing and jet fuel, which all must be paid in dollars.

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