EgyptAir is launching a new service in cooperation with National Bank of Egypt that will allow the bank’s customers to pay for flight tickets in installments, MENA agency reported.

In a statement on Tuesday, the state-owned airline announced that NBE customers can pay for flights tickets to 70 domestic and international destinations in installments over either 6 or 12 months, through credit cards from EgyptAir offices in Egypt and abroad.

The airline is launching the service to encourage tourism given the start of the Christmas holiday season.

Last week, EgyptAir announced that prices of its international flights would be liberalised, while earlier this week Egypt’s cabinet confirmed that the prices of tickets for domestic flights to popular touristic destinations will not increase.

On 3 November, Egypt's central bank floated the Egyptian pound and raised key interest rates as part of a set of reforms aimed at alleviating a dollar shortage and stabilising the country's economy. The pound, which was at EGP 8.8 to the US dollar, is now trading at approximately EGP 17.5 to the dollar.