Zaazou hails deals reached with foreign airlines on financial dues in hard currency

Tourism Minister Hisham Zaazou welcomed on Thursday an agreement made with a number of foreign airlines to settle their financial dues in hard currency. 

Speaking to the press on Thursday, the minister said the government paid special care to reaching a satisfying deal with foreign companies. 

The minister said he is glad for attaining satisfaction of all parties, asserting the Central Bank of Egypt (CBE), Cabinet and the Tourist chambers have exerted great deal of efforts to reach the agreement. 

The agreement was signed by the CBE and foreign airlines who expressed concerns over repatriation of earnings in the hard currency. 

Airlines will receive the due profits in foreign currency through payment programs over the coming period, the minister said

Source : MENA