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English news

03-Mar-2016

CBE addresses airline concerns on profit repatriation

Egypt has addressed the concerns of airlines who have complained in recent weeks about their inability to repatriate earnings, a source at the Central Bank of Egypt (CBE) source said on Wednesday. "Air carriers' concerns have been addressed and the latest issue with British Airways has been totally resolved regarding the repatriation of their profits," the source told Reuters. Last week, Air France-KLM told Reuters it had been unable to repatriate any earnings since October and was owed more than EGP100 million (USD13 million). Local media have reported that British Airways was suffering a similar problem. There was no official comment from BA. (Reuters)

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