The Tourism Promotion Authority (TPA) has begun disbursing payments to foreign charter airlines under the incentives program, Al Borsa reports. The payments, which will cover the November 2015-October 2016 period, will be made in installments. Some 87 companies have submitted their paperwork for payments under the program which offers payouts and fee exemptions to flights with 50-80% seat occupancy rates that bring in regular tours from the EU to a number of Egyptian airports. The Tourism Ministry had agreed earlier this month to extend the program, which expires at the end of October, for an additional year.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Africa’s corporate debt market is just 0.3% of the world’s, with Egypt’s share more than halved since 2010
The OECD puts Africa’s market-based corporate debt at USD 211…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…