Civil Aviation Minister chairs GA of Airports Holding Company

By Mohamed Attia

The Airports and Air Navigation Holding Company is set to hold its general assembly in the coming days, presided over by Minister of Civil Aviation, Pilot Sameh El-Hefny, to approve the decisions of its subsidiary companies’ assemblies.

Recently, the subsidiary companies of the Airports and Air Navigation Holding Company convened their ordinary and extraordinary general assemblies under the chairmanship of Engineer Mohamed Saeed Mohrous, Chairman of the Holding Company. During these meetings, the companies approved a 7% social allowance for employees, effective from March 1, 2024.

The Cairo Airport Company held its ordinary general assembly, during which two new board members were appointed, increasing the board to nine members. The extraordinary general assembly approved amendments to Articles 6 and 7 of the company’s bylaws and agreed to increase the company’s capital to EGP 6.3 billion from retained earnings for the fiscal year 2022-2023.

The Egyptian Airports Company also held its extraordinary general assembly, approving similar amendments and increasing its capital to EGP 5.255 billion from retained earnings for the same fiscal year.

Aerotel Hotels, Tourism, and Recreational Services Company held its extraordinary general assembly, amending its bylaws and approving a capital increase. Likewise, the National Air Navigation Services Company approved amendments and increased its capital to EGP 2.2 billion from retained earnings for 2022-2023.

Aero Sport Company’s extraordinary general assembly approved bylaw amendments and a capital increase to EGP 49 million. Additionally, Cairo Airport Company’s stake in Aero Sport increased by EGP 49 million, making Cairo Airport Company a 66.20% partner.

The Aviation Information Technology Company also held its extraordinary general assembly, amending its by laws and increasing its authorised capital to EGP 500 million, with issued and paid-up capital rising to EGP 175 million from retained earnings for 2022-2023.

Furthermore, the EgyptAir Holding Company is expected to hold its general assembly soon, chaired by Minister El-Hefny, to ratify the decisions of its subsidiary companies’ assemblies.