Egypt has received bids from 70 investor consortiums for the management and operation of its airports, but has rejected the majority over low valuations, according to a senior government official familiar with the privatization portfolio.
The official, who spoke on condition of anonymity due to the sensitivity of the matter, said the government is now focusing on shortlisted offers, including those targeting Hurghada International Airport, a key Red Sea hub that handled a record 10.5 million passengers in the 2024–2025 fiscal year, up 22% from the previous year.
Passenger traffic at Hurghada peaked at over 53,000 in a single day on Oct. 25, marking the airport’s highest single-day throughput since the start of 2025, according to the Ministry of Civil Aviation.
While the airport is the country’s second-busiest by air traffic, the government has not disclosed its current revenues. However, previous estimates from a Finance Ministry official suggest that private sector-led upgrades could add as much as $300 million annually in revenue, bringing the total to $800 million.
Private management model to debut at Hurghada
The final list of accepted bids is expected by the end of January, the official said, marking a first-of-its-kind experiment in Egypt’s airport sector privatization.
The government aims to outsource operations at 11 airports as part of a broader divestment strategy and signed a deal with the International Finance Corporation in March 2025 to help design a development roadmap, enhance connectivity, and improve passenger services.
Prime Minister Mostafa Madbouly said in December 2024 that all airports would eventually be opened to private-sector participation, emphasizing Cairo’s openness to “any ideas to expand Egypt’s aviation fleet.”
Last month, the Civil Aviation Ministry formally opened bidding for private management of Hurghada Airport, advancing the IMF-mandated privatization program that has faced criticism over delays in implementation.
The official noted that Egypt had also walked back plans to directly sell Banque du Caire after receiving what it considered underwhelming offers, including one from Emirates NBD, which had received central bank clearance to conduct due diligence in March.
The IMF has tied the disbursement of the seventh and eighth reviews of its Extended Fund Facility to progress on Egypt’s state-asset sales, including the inclusion of airports in the privatization plan, according to the source.
