EgyptAir reduces salaries of senior workers by 10%

EgyptAir has reduced the salaries of its senior workers by ten per cent as a result of the massive losses which have resulted from the grounding of international flights as a result of the coronavirus outbreak, Chairman of EgyptAir Holding Mohamed Roshdi Zakaria announced yesterday.

Rassd,com reported Zakaria saying that the administrative and operating costs would be reduced, starting this month.

The EgyptAir Holding chairman said the decision will be reconsidered once the situation improves.

EgyptAir, Zakaria said, had gone through many crises during its years of operation that could have undermined the business, but none have been as severe as the effects of the coronavirus.

It is worth noting that the company received a bailout of two billion Egyptian pounds ($0.13 billion) which is due to be repaid when operations are back to 80 per cent of 2019 levels.

READ: Egypt to receive $50m from World Bank to confront COVID-19