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.



Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
TT
20

Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT

Gold prices fell to a near two-week low on Tuesday as risk appetite improved after US President Donald Trump said Iran and Israel had agreed to a ceasefire, denting demand for safe-haven assets.

Spot gold was down 0.9% at $3,338.39 an ounce, as of 0526 GMT, after hitting its lowest level since June 11 earlier in the session, Reuters reported.

US gold futures slipped 1.2% to $3,352.60.

"It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the US and Iran," said Ilya Spivak, head of global macro at Tastylive.

Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the region.

There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks.

Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire.

Meanwhile, US Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market.

Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signaling near-term easing.

"The bias for gold prices is higher, but we might see a correction in the near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year," Spivak said.

Gold tends to thrive in a low-interest-rate environment.

Elsewhere, spot silver eased 0.1% to $36.08 per ounce, platinum fell 0.3% to $1,290.67, while palladium slipped 1.3% to $1,062.94.