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Egyptian Travel Agents Association Says No Differences Between Airlines, Lebanese Travel Agents

Egyptian Travel Agents Association Says No Differences Between Airlines, Lebanese Travel Agents
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Egyptian Travel Agents Association Says No Differences Between Airlines, Lebanese Travel Agents

Egyptian Travel Agents Association Says No Differences Between Airlines, Lebanese Travel Agents

Egyptian Travel Agents Association (ETAA) of the country’s Chamber of Commerce held a meeting with a number of tourism and aviation companies to identify the parties that caused the dispute between Al-Masria Universal Airlines and a Lebanese travel agent.

This dispute has caused a crisis for some Lebanese flights to Sharm El Sheikh late April.

Member of ETAA board of directors Nader Ayyad affirmed the solid relationship between Egypt and Lebanon.

“The ETAA has held an urgent meeting in light with the cancellation of flights by Lebanese tourists to Sharm El Sheikh last month,” Ayyad said in a statement of which Asharq al-Awsat received a copy.

The meeting was attended by travel agents and aviation companies in Egypt and aimed at finding out the causes of the crisis, the statement said, pointing out Egyptian companies were proved not to violate their contracts with their Lebanese counterparts.

It pointed to the agreement between Civil Aviation General Manager at Rafic Hariri International Airport Mohammed Shehab al-Din with and the Egyptian airlines, which stipulates that planes carrying tourists don’t take off from Lebanon before entirely paying dues.

Ayyad said that April 26’s flight has seen an agreement with Al-Masria Universal Airlines on the need to operate a trip to return Lebanese tourists.

“The ETAA has coordinated with Al-Masria Universal Airlines to return tourists and stress on Egyptian companies to hold their responsibility and collect the value of the trip,” the statement read.

It explained that in this case, if any company fails to pay the due amount for the passengers’ return trip, they will remain in the country until the money is paid.

Al-Masria Universal Airlines provided documents to the ETAA, showing that the Lebanese agent didn’t commit to paying the company’s dues, which prompted the Egyptian company to cancel flights from Sharm El Sheikh to Lebanon for this agent only.

ETAA pointed out that all Egyptian airlines have completed all the remaining contracts with the Lebanese travel agents until the end of the holidays, stressing the full respect and appreciation for all the Lebanese tourism companies and the Lebanese people.

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Saudi Inflation Holds Steady in May as Rents Remain Key Driver

Aerial photo of the Saudi capital Riyadh (SPA) 
Aerial photo of the Saudi capital Riyadh (SPA) 
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Saudi Inflation Holds Steady in May as Rents Remain Key Driver

Aerial photo of the Saudi capital Riyadh (SPA) 
Aerial photo of the Saudi capital Riyadh (SPA) 

Saudi Arabia’s annual inflation rate remained stable at 2.2 percent in May 2025, maintaining a pace close to the 2.3 percent recorded in April. The continued stability in prices signals a relative balance in inflationary pressures, despite ongoing increases in housing costs.

This resilience comes amid global economic volatility, reflecting the effectiveness of Saudi Arabia’s fiscal and monetary policies, particularly in controlling energy and rental prices. The monthly Consumer Price Index (CPI) saw a slight uptick of just 0.1 percent.

According to the General Authority for Statistics (GASTAT), the annual inflation rate for May was driven primarily by rising housing-related costs. Prices in the housing, water, electricity, gas, and fuel sector increased by 6.8 percent compared to the same period last year. Food and beverage prices climbed by 1.6 percent, while personal goods and services saw a 4 percent rise.

Residential rents remained the most significant contributor to inflation, continuing their upward trend and exerting substantial influence on the general index. Despite this, the Kingdom’s inflation rate remains among the lowest in the G20.

Commenting on the data, Dr. Abdullah Al-Jassar, a member of the Saudi Association for Energy Economics, told Asharq Al-Awsat that Saudi Arabia’s inflation levels remain comparatively low on a global scale. He said the current rate reflects the flexibility and discipline of the national economy, noting that price increases have been modest and largely under control.

Al-Jassar attributed this to effective government policies that have helped shield both the market and consumers from external shocks.

He emphasized that the inflation observed is a result of real economic activity rather than external disruptions or internal imbalances. One of the most effective tools in curbing inflation, he said, has been the government’s decision to stabilize local energy prices, even as global oil prices surged. Since fuel plays a crucial role in the production, transport, and distribution of goods and services, this policy has prevented cost increases from spilling over into other sectors such as food, construction, and housing.

Al-Jassar described this approach as a “smart policy” that successfully absorbed global inflationary shocks before they reached the end consumer.

Although residential rents jumped 8.1 percent year-on-year, he noted that the rise was gradual and primarily driven by strong demand and limited supply. He also pointed out that the Saudi riyal’s peg to the US dollar has helped protect the economy from imported inflation and reduce the cost of importing goods.

Increased competition, tighter price monitoring, and the growing presence of e-commerce were also cited as factors contributing to market stability and limiting price manipulation across various sectors.

Looking ahead, Al-Jassar suggested inflation could see a slight increase in the second half of 2025, potentially rising to between 2.5 and 3 percent. He attributed this potential uptick to seasonal factors or changes in global commodity prices. Additionally, if the US Federal Reserve moves to cut interest rates, this could lead to looser monetary policy in Saudi Arabia, boosting liquidity and consumption—factors that might put upward pressure on prices. However, he stressed that there are currently no signs of any sharp or unexpected inflationary surges.

In April 2025, the inflation rate stood at 2.3 percent, also led by a 6.8 percent rise in housing and related costs. Food and beverages saw a 2.2 percent increase, while personal goods and services were up 3.5 percent.

Month-on-month data showed that while May’s CPI rose by just 0.1 percent, residential rents continued to rise, helping push housing-related prices up by 0.3 percent. Actual rents for residences alone increased by 0.4 percent. Food and beverages inched up by 0.1 percent, while personal goods and services rose by 0.5 percent. Tobacco prices edged up by 0.2 percent.