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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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Data sheet
Summary sheet

General enquiries and comments

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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