CBE to pay dues to foreign airline companies in hard currency
Central Bank of Egypt -YOUM7 (Archive)

CAIRO: The Civil Aviation Ministry has reached a tentative agreement with the Central Bank of Egypt (CBE) to pay all the dues to foreign airlines in foreign currency, a high-profile source at the ministry told Youm7 Thursday.

During the past few days, Civil Aviation Minister Hossam Kamal has been in contact with officials at the CBE to pay the dues through payment programs during the coming period, said the source.

The source added that many of the international and Arab airlines in several countries face the same problems of converting revenues into foreign currencies. EgyptAir has faced that problem in some airports including those in Asmara and Sudan.

The CBE is due to pay $3 million in dues to the British Airways in installments starting from Sunday, the source added.

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