Egypt Monday signed contracts with two German and French companies to run Cairo International Airport…
Egypt Monday signed contracts with two German and French companies to run Cairo International Airport and other airports across the country.
The ceremony was attended by Minister of Aviation Ahmad Shafiq and the ambassadors of Germany and France in Cairo. Shafiq said that the move was late but necessary.
Employing foreign experts to run international airports in return for a profit share has proved a success.
The German Fraport, the operator of Frankfurt`s Airport, was awarded an eight-year contract to operate Cairo International Airport as of 2005.
The French ADL also won a 6-year contract to operate the airports of Hurghada, Sharm el-Sheikh, Abu Simbel, Luxor and Aswan.
The two companies are to begin their business within the coming three weeks, said Ibrahim Mana`a, the Chairman of the Holding Company for Airports and Air Navigation.
A Fraport spokesman said that the airport operator will receive between one and $1.5 million in annual operating fees.
He added that the company will not be invested in infrastructure at Cairo Airport.
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