Air France receives approval to repatriate profits, takes devaluation hit

Air France was allowed to repatriate some of its profits in Egypt abroad, but had to absorb the impact of the EGP devaluation, Air France KLM’s Egypt Country Manager Cees Ursem told Al Borsa. The company received approvals to repatriate its profits although it has only opted to transfer a small amount, Ursem says. He added that the airline is going to use new Boeing-787s on its Cairo-Paris route, but said the company will not increase the number of weekly flights on the route from the current six.