Arab Finance: The first phase of the government’s plan to lure private investors to develop, manage, and operate Egyptian airports will offer up five airports, Al Arabiya Business reported, citing sources familiar with the matter.

The airports are Cairo International Airport, Sphinx International Airport, El Alamein International Airport, Sharm El Sheikh International Airport, and Hurghada International Airport.

The government also seeks to hand over the management of Luxor and Aswan airports to private sector operators in subsequent phases, with plans to turn Aswan International Airport into a hub for sub-Saharan African flights, one source pointed out.

The management of Egyptian airports by international companies will encourage major companies all over the world to launch direct flights to Egypt, particularly from the US, Europe, and Asia, another source said.

On October 14^th, Prime Minister Moustafa Madbouly announced that the government and will make important announcements soon regarding the offering of several airports and banks.

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