EGYPT: EgyptAir Maintenance & Engineering Capital Increased To EGP 1.4 Billion

CAIRO, Egypt

• The Egyptian Ministry of Civil Aviation, through decree 593 of 2026, has raised the issued and paid-up capital of EgyptAir Maintenance and Engineering Company to EGP 1.4028814 billion Egyptian pounds (USD 25.2 million) divided into 14.028814 million shares of EGP 100 each, all held by EgyptAir Holding Company.
• The MRO specialist's authorised capital is set at EGP 2.5 billion (USD 44.9 million). The decree is dated 17 May 2026 and was published in Egyptian Gazette issue 241 on 31 October 2026.
• The move sits alongside a wider capital reset at other EgyptAir group companies. As previously reported, in early September, the Official Gazette recorded EgyptAir Airlines’ authorised capital at EGP 10 billion (USD 179 million) and issued and paid-in capital at EGP 9 billion (USD 161 million). A separate notice the same week set EgyptAir Medical Services’ authorised capital at EGP 300 million (USD 5.4 million) and issued and paid-in capital at EGP 182.4 million (USD 3.3 million). Both companies remain wholly owned by EgyptAir Holding.
• Civil Aviation Minister Sameh El-Hefny said on 22 October that EgyptAir has cut its accumulated losses from EGP 31.5 billion (USD 565 million) to EGP 5.9 billion (USD 106 million) and is targeting their elimination within two years. The carrier is still reliant on state support; in the first half of 2026 it received EGP 350 million (USD 6.3 million) from the Egyptian Export Development Fund.
• EgyptAir Holding’s last published group briefing, for FY 2024/25, reported unaudited combined revenue of EGP 69 billion (USD 1.24 billion) and net profit after tax of EGP 4.1 billion (USD 74 million).

Source:

• Almasdar