SOUTHLAKE, Texas, Dec. 17, 2014 /PRNewswire/ --Africa's largest carrier, EgyptAir, has signed an agreement with global technology company Sabre to help develop and implement a transformation program for EgyptAir Airlines and Express.
The government-owned Star Alliance carrier is embarking on a comprehensive transformation strategy to increase revenues, improve efficiencies and explore new revenue streams by June 2016.
Captain Sameh El-Hefny, the Chairman and CEO of EgyptAir Holding Co. said: "This agreement is a part of EgyptAir's transformation plan, dedicated to transforming the business, financial and operational structure of both EgyptAir Airlines and Express. Our goal is to increase revenues and return the airline to profitability by the end of the fiscal year 2015 / 2016, putting us in line with our global counterparts."
The transformation strategy will address a wide range of EgyptAir's important areas including reviewing and developing a plan to improve the company's financial performance; revenue management; network, fleet and crew planning; alliance partnerships, and fuel and maintenance strategies.
"This is a comprehensive project to review the company's current situation and recommend changes and solutions across almost every part of our business. Sabre is recognized as the best in the airline technology industry. They know our business, our region, the challenges and opportunities we face, and they have a superior track record of helping airlines globally achieve sustained growth and profitability. Sabre will play a critical role in our five-year transformation strategy," said El-Hefny.
Alessandro Ciancimino, Vice President, Sabre Airline Solutions, said: "We are pleased EgyptAir selected us from a number of global companies that specialize in consultancy and transformation projects. EgyptAir is Africa's largest carrier and one of the continent's most globally-recognized brands, playing a critical role in connecting commerce and tourism across five continents. We believe it has great potential for growth and success, and that's where our focus with the airline will be."
EgyptAir has been a long-time customer of Sabre, participating in its global distribution system and utilizing its consultancy services. EgyptAir was founded in 1932 and operates scheduled passenger and freight services to more than 75 destinations across the EMEA, Asia and Americas regions.
Sabre Corporation (NASDAQ: SABR) is a leading technology provider to the global travel and tourism industry. Sabre's software, data, mobile and distribution solutions are used by hundreds of airlines and thousands of hotel properties to manage critical operations, such as passenger and guest reservations, revenue management, and flight, network and crew management. Sabre® also operates a leading global travel marketplace, processing over $100 billion of estimated travel spend in 2013 by connecting travel suppliers to their most valued customers, the business traveler. Headquartered in Southlake, Texas, USA, Sabre operates offices in approximately 60 countries around the world.
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SOURCE Sabre Corporation