As many Arab airline executives have found over the past couple of years, external political events tend to trump any business plans. Egyptair, having already suffered a major fall in traffic at the outset of the Arab Spring in 2011 when President Hosni Mubarak was overthrown, found itself staring at a similar drop-off when his successor, Mohammed Morsi, was driven from office during 2013 summer protests backed by Egypt’s armed forces. Last year could be divided into two parts, before ...

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