The first phase of Egypt’s plan to lure in private investors to develop, manage, and operate Egyptian airports will offer up five airports, Al Arabiya reported, citing unnamed sources it says have knowledge of the matter. Cairo International Airport, Sphinx International Airport, El Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport are on offer for private sector investments, the sources said.

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Luxor, Aswan airports to follow in later phases: The government also plans to hand over management of Luxor and Aswan airports to private sector operators in subsequent phases, with plans to develop Aswan International Airport into a hub for sub-Saharan African flights, one of the sources said.

Private sector to run operations, not own assets: The sources reiterated Egyptian Civil Aviation Minister Sameh Elhefny’s remarks that the airports are not for sale and remain under the sovereignty of the Egyptian state. Instead, the offering involves the management and operation of the commercial activities within the airports.

More Egypt-bound flights? Having international operators run Egyptian airports could encourage major carriers to launch direct flights to Egypt from the US, Europe, and East Asia, one source told the outlet. Currently, US flights to Egypt often stop over in Europe or Turkey, while East Asian carriers only operate indirect routes to the country. The move is expected to boost both tourism from new markets and air cargo volumes.

When can we expect an answer? It will take an average of 16 months to weigh between the technical and financial offers submitted by private investors to develop, manage, and operate the airports on the government’s privatization checklist, unnamed sources told Al Borsa.

Private players are already lining up: Six international companies have shown interest in managing and operating the airports. Elhefny also met with a delegation from Greek infrastructure investment company Copelouzos Group last week to discuss potential joint projects to develop, manage, and operate airports in the country.

Is this the big news we were told to look out for? We’ve been on the lookout for airport privatization news since Prime Minister Moustafa Madbouly said earlier this month that some “important” updates regarding our plans to privatize airports and banks would be announced soon. The Madbouly government first revealed in November 2023 that it planned to invite private sector players — including foreign companies — to take over the management of airports in the country.

AND- A new airport in the works? One of Al Arabiya’s sources said that the government is mulling over plans to build a new airport to serve Egypt’s new capital, while positioning Sphinx International Airport to cater to low-cost and charter flights. The proposed new airport would be the second serving the new capital in addition to the already existing Capital International Airport.

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