The Minister of Petroleum and Mineral Resources, Tarek El Molla, has agreed with the Minister of Tourism and Antiquities, Kaheld Al Anany to cut the fuel prices for airlines by $0.10 per gallon, according to a statement published by the Tourism Ministry official website.

The statement said that the new price will be applied immediately once the airline traffic is back to normal to boost tourism sector.

It is worth noting that several airlines are in negotiations with the government to facilitate measures mitigating the effect of coronavirus including talks with Al Ahly and Misr Banks to obtain zero interest loans to be able pay salaries. Additionally, the Nile airlines called Egyptian banks and the Egypt’s Sovereign Wealth Fund to purchase some of its stakes to reinforce its financial position.