Russian airline association RAEVT has warned of the losses likely to result from having to suspend Egyptian flights indefinitely.

The figure could total Rb9.1 billion ($140 million) by year-end, RAEVT estimates.

On 6 November, the Russian government ordered a halt to all flights to Egypt following the crash of a MetroJet Airbus A321 over the Sinai peninsula.

RAEVT president Vladimir Tasun says the carriers that provided charter services to Egyptian resorts stand to suffer the most from the suspension.

Based on the number of cancelled tour packages and seat bookings for flights to Hurghada and Sharm el-Sheikh, Nordwind Airlines expects to lose Rb4 billion in revenue over the next two months.

Orenair, a member of Aeroflot Group, and Ikar Airlines each expect to lose Rb800 million during the same period.

"Due to the suspension of scheduled flights to Cairo, Aeroflot itself is to post around Rb60 million in lost profits," says Tasun, citing the flag carrier's outlook.

Ural Airlines conservatively expects to lose Rb700 million, Red Wings Rb480 million, Yamal Airlines Rb324 million and Taimyr Avia (which operates as Nordstar) Rb232 million.

RAEVT says this prospect is all the more frustrating given the uncertainty as to how long the A321 crash investigation will take and when the ban on all Egypt flights will be lifted.

Tasun adds: "I don't even mention an impact on carriers from the overall downturn in domestic demand for international travel."

Source: Cirium Dashboard