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    Signature(s)

    Amount
    € 290,000,000
    Countries
    Sector(s)
    Egypt : € 290,000,000
    Transport : € 290,000,000
    Signature date(s)
    22/12/2004 : € 290,000,000
    Link to source
    Data sheet

    Summary sheet

    Release date
    22 October 2004
    Status
    Reference
    Signed | 22/12/2004
    20030568
    Project name
    Promoter - financial intermediary
    EgyptAir II
    EgyptAir
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 280m
    Estimated at some USD 900m (about EUR 750m).
    Location
    Sector(s)
    Description
    Objectives

    Acquisition of 7 Airbus A330-200 with corresponding spare engines as part of EgyptAir fleet renewal programme.

    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.

    Environmental aspects
    Procurement

    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).

    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.

    Link to source
    Summary sheet

    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).

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    Other links
    Data sheet
    Summary sheet

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