EgyptAir is in talks with international banks to borrow USD 800 mn for the purchase of new aircrafts to upgrade their fleet, banking sources told Al Shorouk. The sources disclosed that amongst the institutions involved in the conversation are Citigroup and JP Morgan. EgyptAir is planning on spending a total of USD 5 bn to purchase 45 aircraft over the next period and has been speaking to both local and international banks to finance the fleet upgrade.

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