Airports holding company shows a surplus 

The Cairo Airport Company has realised a surplus of about LE400mn, while the Egyptian Company for Airports hit a surplus of about LE450mn.

Indices of the budget ending 30 June 2015 for the fiscal year 2014/2015 indicate  the highest surplus in the history of the company and its affiliate companies by about one billion Egyptian pounds, according to the board chairman of the Holding Company for Airports and Air Navigation Dr Mahmoud Esmat.

The Air Navigation Company realised a surplus of about LE200mn, while the Information Technology Company realised a surplus of about LE23mn.

Esmat praised the planning, follow-up and loyalty and great performance of the workers, saying they will present the budget to the general assembly meetings of affiliating companies and will be reviewed by the Central Agency for Auditing before being sanctioned during the annual meeting of the general assembly of the Holding Company for Airports and Air Navigation. Meantime, he said that the infrastructure project of the airport’s Aeroport City would be offered next week. The project includes roads, bridges, tunnels and fences round the airport along with electricity, water, sanitation, fire extinguishing, security, cameras and IT work.

Pieces of land in the airport area will be offered for investment for commercial, medical, educational and cultural projects, he said, adding that they would be offered without using investment banks.

The Holding Company for Airports and Air Navigation board, chaired by Eng. Mahmoud Esmat, and the Cairo Airport Company’s board chaired by Ahmed Geneina, have approved the establishment of the new company for managing investment zone projects ‘Aeroport City’ and the terms and conditions for establishing the new company and contributors, activities and mission in terms of developing the investment zone. These will be determined before the end of July.