EgyptAir Holding is expecting to record EGP 2 bn in profits in FY 2017-18, Chairman and CEO Safwat Musallam told the press on Wednesday, according to Al Mal. The company has a busy pipeline of new investments and upgrades, which include maintenance for hangars and training rooms. EgyptAir will also be operating direct flights to Shanghai and Tokyo starting October, according to Musallam. Civil Aviation Minister Sherif Fathy also said that EgyptAir will be supplementing its fleet with 40 new planes, but provided no additional details.

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