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Thursday, September 15, 2016
Due to Egypt’s foreign currency problems KLM Airlines has said it will suspend flights to Cairo starting in January. The currency issue has kept the airline from repatriating its earnings.
In a statement on its website KLM said that the devaluation of the Egyptian pound and the decision of the Central Bank of Egypt to impose restrictions on the transfer of foreign currency out of Egypt have a “negative impact on results of KLM”.
KLM’s final flight from Cairo will depart on January 7 the statement said.
“After suspension of the KLM service to Cairo, Air France -KLM will maintain its presence in the Egyptian capital, with Air France operating six weekly flights out of Paris,” the statement added.
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