Egypt: Lufthansa considers limiting sales of tickets to US dollars, credit cards from November

Lufthansa is considering suspending sales of its tickets in Egyptian pounds starting from November, and limiting sales to US dollars or credit cards, which would make banks responsible for securing dollars to clients. The move results from a delay of dues owed to the airline by the Egyptian govt amounting to E15m. Zied Gueblaoui, Lufthansa’s Egypt country manager, said that the company is suffering from the shortage of hard cash in the market. Gueblaoui said that the situation pushed the company to consider a number of possible solutions to avoid the accumulation of their dues, pointing out that the final solution will be implemented starting November. The company may resort to shutting down its tickets office in Egypt, or even go as far as exiting the market if the crisis continues. <br/>