Kogalymavia and the Prince Group, the owners of the Russian plane, Airbus A231, that crashed in Sinai in 2015, launched a prosecution of Egypt before the International Arbitration Court in the Hague, Al Araby Al Jadeed reported on Friday.
The two companies, the Russian RPK newspaper disclosed, are seeking $201 million in compensation from the Egyptian authorities for their losses resulting from the plane crash, as well as for losing their investments in Egypt.
Although, the prosecution procedures began in November 2017, the two companies require years to prove arbitration jurisdiction to the court.
The two firms hope that the court issues its ruling before the end of the year, noting that they will pay part of the compensation to the families of the victims.
Airbus A231 crashed after taking off at the Egyptian resort of Sharm El Sheikh, heading to Saint Petersburg, on 31 October 2015, killing all 224 passengers.
The two companies stated that Egypt had known for a long time that the security system of its airports did not meet the international criteria, and has not yet issued an official report on the accident.
Earlier this week, an Egyptian court ruled that Egypt was not responsible for the plan crash, citing it as an act of terror.