Egypt’s Nile Air preparing for IPO

24 Apr 2018

Privately owned Egyptian carrier Nile Air is preparing for an initial public offering (IPO) later in 2018.

Nile Air launched in 2011 and is now Egypt’s second-largest independent airline. The full-service carrier operates five Airbus A320ceos and two A321ceos from Cairo and Alexandria to destinations in Africa, Europe, the Gulf and Middle East.

Speaking during a panel session at Aviation Africa in Cairo, Nile Air CEO Ahmed Aly said the airline is working toward an IPO.

He declined to give further details, as the process is still in the early stages and the airline’s management team are still working on the project plan.

Earlier media reports mention that Nile Air had previously considered listing around 30% of its shares, but turbulence in the Egyptian market postponed the move.

atwonline

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