Egypt Sells Airport: Hurghada Seeks Private Owner

Egypt has put its second-busiest airport up for sale. The government is asking private companies to bid for the right to manage, operate, and develop Hurghada International Airport. The Civil Aviation Ministry launched the process. It wants a private firm to take over the airport, which is a major gateway for tourists visiting the Red Sea coast. This move is part of a larger state plan. Egypt aims to privatize many state-owned assets to raise money and improve efficiency. The government hopes private management will develop the airport and increase investment. The winning bidder will get a long-term contract. Details on the bid deadline and required investments were not immediately released.