Egyptair Plane (Photo: Reuters)
Egypt and Italy signed on Tuesday a deal to improve training for airline pilots and develop aviation regulatory and supervisory activities, to be financed by a European Union grant worth €1.1 million ($1.24 million), state-owned news agency MENA reported.
Switzerland, Denmark and Italy had competed for the European Union grant to sign the deal with Egypt's aviation authority for a project that aims at institutional reform and job restructuring, reported MENA.
Italy has traditionally been Egypt's biggest trading partner in Europe, with trade between the two countries reaching $6.1 billion in the fiscal year 2013/14, central bank data shows.
EgyptAir, the country’s state-owned airline company, accumulated LE10.11 billion ($1.3 billion) in losses over the past three years, the chairman Sameh El-Hefny was quoted by Ahram’s Arabic news website as saying.
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