Russia stops Charter flights to Egypt as from this Sunday

Russian flight organizers decided to stop charter flights to Egypt starting November 20 until the end of the upcoming parliamentary elections, said a member of Board of Directors of South Sinai Investors Association Adel el-Sherbeiny. El-Sherbeiny pointed out TIZ Company’s delegate informed him no Russian tourists will arrive during the upcoming parliamentary elections, expressing his fear of the lack of security during the voting process. “A total of 40 percent of hotels and resorts in Sharm el-Sheikh were exposed to bankruptcy and closure amid instable political situation,” el-Sherbeiny said in a statement during the conference of ‘Challenges and Opportunities of Investing in South Sinai.’ The conference was called upon by South Sinai Investors Association, lead by Hisham Ali. Member of Investors Association Adly el-Mestekawy called on the National Bank of Egypt to finance the establishment of an Egyptian company to attract tourists. El-Mestekawy assured there is inconsistency between the announced prices on hotel websites and prices announced by the flight organizers who obtain 80 percent of tourism interests. El-Mestekawy added the inconsistence caused the heads of Egyptian banks to be angry, particularly the chairman of Egypt Banks Union, Tarek Amer. Chairman of Chamber of Hotels in South Sinai Hussein Fawzy said South Sinai represents 33 percent of Egypt’s hotels and could provide the necessary financing to establish any company for marketing abroad. Charter flights are flights organized by tourism companies from Russia to Hurghada directly and are supported by the Ministry of Tourism.