Egypt’s first low-cost carrier takes to the air

CAIRO - Egypt’s first budget airline, Air Arabia Egypt, took to the air Tuesday, with its first international flight leaving the northern city of Alexandria for the Sudanese capital, Khartoum.

The company, a joint venture between the UAE-based Air Arabia and Egypt’s Travco Group, said it plans to launch other services to Kuwait, Amman and Beirut.

Air Arabia’s 2010 first quarter profits decreased by around 51 percent to 50 million UAE dirhams (around $13.6 million), compared to same period in 2009, due to higher fuel prices and pressure on yield margins.