in Business & Finance

Egyptair fined for Sudan Airways leases

Posted 4 January 2016 · Add Comment

Egyptair has been fined USD140,000 by the US Bureau of Industry and Security (BIS) for violating a US trade embargo against Sudan between 2010 and 2011, reports ch-aviation.

The BIS said in a statement that Egyptair had leased two B737-500s to Sudan Airways over the period August 2010 to February 2011 without having sought the required licences as required under Executive Orders 13067 and 13412. As a result, the Egyptian carrier must now pay the US Department of Commerce USD140,000 in four instalments of USD35,000 by November 1, 2016. Failure to pay the fine may result in the BIS revoking Egyptair's export privileges for a period of one year, the Bureau said.

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