EgyptAir Looks to Lease Out Aircraft and Crew Amid Uncertainty CheapOair Staff February 21, 2011 general EgyptAir is looking to lease out nearly 40 percent of its fleet Weeks after political unrest and history-making protests first brought Egyptian tourism to a standstill, struggling EgyptAir is now looking for ways to cut its losses. The airline, which has canceled nearly 75% of its flights since January 25, recently said it is looking to lease out 25 of its aircraft to other members of the Star Alliance network. EgyptAir's 70-plane fleet includes Airbus A330s, Airbus A340s, Boeing 777-200ERs, Boeing 777-300ERs, and Boeing 737s. The carrier is also offering to fully staff the aircraft as it looks for ways to put employees back to work. EgyptAir chairman Hussein Massoud said the airline is considering other options, including cutting working hours and offering leaves of absence without pay. Source: USA Today
