Cairo Airport to Partly Close as Economic Crisis Bites

Tuesday, 02 Apr 2013 04:13 AM


  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
CAIRO — Cairo's international airport will be partly closed at night due to fewer incoming flights and to save energy, reports said on Monday, highlighting the economic crisis sweeping Egypt.

Two runways will be closed for four hours starting from 1.30 am "in order to save energy,” said civil aviation minister Wael al-Maadawi in statements carried by the media.

Only one runway, at Terminal 3 — which serves as a regional hub — will remain open 24 hours a day.

Maadawi said airport revenues were not enough to cover the costs of keeping the runways open.

The decision, which comes into effect in June, "could be seen as an honest reflection of the deteriorating economic condition in Egypt," said an editorial in the state-owned English language daily The Egyptian Gazette.

It also comes at a time of increasingly frequent power cuts aimed at saving energy.

The oil ministry last week admitted it does not have money to buy enough fuel for all of its power stations. Fuel-laden ships are docked at Egyptian ports but have not unloaded their cargo because there are no funds, it added.

"How will all the different utilities, industrial ventures and housing services cope with a major drop in electricity production and distribution during the summer season?" asked the Gazette.

The unrest which accompanied the uprising that toppled Hosni Mubarak in 2011 caused a significant drop in revenue generated by the once-lucrative tourism industry.

Foreign reserves have plunged from $36 billion to $13 billion in two years, and the budget deficit is increasing.

A mission from the International Money Fund is expected in Cairo in the coming days to resume discussions over a $4.8 billion loan, which authorities believe would help restore investor and foreign lenders' confidence in Egypt.

President Mohammed Morsi's administration has been plagued by unrest and deadly clashes between protesters and police, blocking efforts to build broad-based support for a needed program of economic reform.

© AFP 2014

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Israel Bombs Gaza Militant Base After Rocket Hits Southern Israel

Friday, 19 Dec 2014 19:52 PM

Israeli aircraft bombed a Hamas militant base in the Gaza Strip on Friday for the first time since the end of a war in t . . .

Pakistan Hangs Two Convicted Militants in First Execution Since 2008

Friday, 19 Dec 2014 13:43 PM

Pakistan on Friday hung two convicted militants in the first executions since 2008, officials said, after the government . . .

Egypt's Gays Go Deeper Underground, Fearing Crackdown

Friday, 19 Dec 2014 11:18 AM

Just before midnight, the police navigated down the narrow alleys of an old downtown Cairo district and descended on a r . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved