Egyptair looks to build up fleet to meet tourism footfall targets

Egyptair is set to add 12 new aircraft to its fleet this year, including the addition yesterday of its first Airbus A350-900 aircraft, according to a statement from the Civil Aviation Ministry. The national flag carrier plans to add 34 new planes from the A350-900 and Boeing 737-8 Max families to its fleet by 2031, including 13 new aircraft in 2027.

Why it matters: The move aims to support the country’s goal of seeing some 30 mn tourists land in Egypt in 2030, over double the amount recorded last year. However, there are obstacles to building a fleet beyond getting funds ready, with airlines globally facing an aircraft shortage due to manufacturers — particularly engine builders — struggling to keep up with demand due to supply chain issues and a lack of skilled labor.

Rawaj oversubscription signals appetite for Aspire’s fund pivot

Aspire Capital secured FRA approval to manage investment funds directly, according to an EGX disclosure (pdf). Aspire is pushing into the equity space with its Wafra Plus fund, which opened for subscription on 1 February. The pivot saw a strong start with its Rawaj money market fund, which closed its subscription late last month with a 5x oversubscription rate. The firm’s managed assets hit EGP 4 bn through its subsidiary Aim Financial Investments.

We knew this was coming: Last year, Managing Director Abdel Moneim Omran said the firm is looking to launch five funds worth EGP 3 bn over two years, including a gold investment fund, a real estate fund, a money market fund, an FCY liquidity fund, and an equity fund.

Slaughterhouse biogas initiative not just hot air

The government is scaling up its pilot program to install biogas units at state-owned slaughterhouses, moving from a small-scale unit in Kafr Shukr to an industrial-scale EGP 13 mn facility in New Valley, according to a statement from the Local Development and Environment Ministry. The ministry claims the New Valley plant, which will process waste from a 3k-head cattle farm, will generate EGP 17 mn in its first year through the production of organic fertilizer and methane gas.

Why this matters: This isn’t just a green initiative — it’s an import-substitution and export play. By converting slaughterhouse waste into high-grade organic fertilizer, the state is targeting international markets that are increasingly banning products grown with chemical fertilizers.

Kima reports net income surge in 2Q FY 2025-2026

Egyptian Chemical Industries (Kima) saw its net income increase 46.9% y-o-y to EGP 1.2 bn during 2Q FY 2025-26, according to the company’s latest earnings release (pdf). Over the same period, revenues grew 4.6% y-o-y to EGP 4.2 bn.

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