Release date: 22 October 2004
Promoter – Financial Intermediary
EgyptAirLocation
Description
Acquisition of 7 Airbus A330-200 with corresponding spare engines as part of EgyptAir fleet renewal programme.
Objectives
The project will contribute to the modernisation of EgyptAir’s fleet, leading to lower operating costs and improved service quality. It will also adapt aircraft capacity to accommodate future traffic growth. These elements constitute an improvement of transport links to and within Egypt, helping the economic development of the country.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 280m
Total cost (Approximate amount)
Estimated at some USD 900m (about EUR 750m).
Environmental aspects
The proposed aircraft will comply with all current and likely future environmental standards on noise and emissions. In fact, the replacement of the older aircraft is beneficial to the environment (energy saving and lower emissions compared to the existing aircraft).
Procurement
EgyptAir did a comprehensive analysis of its fleet development options and negotiated with all suitable suppliers. This procedure is in line with industry standards and in the best interest of the project.
Status
Signed - 22/12/2004
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).