Sharif Fathi, the board chairman of the EgyptAir Holding Company, says a company committee has identified up to eighteen aircraft that are surplus to requirements and are therefore to be sold off in the coming months.

Fathi told The Egypt Independent that of the eleven aircraft destined for immediate disposal, seven are A320-200s while four are B737-500s. The remaining seven aircraft to be sold at a later date include a mixture of A340-200 and B777-200(ER) equipment, he said.

Egyptair is set to embark on a wide-ranging restructuring programme aimed at curbing continuous losses at the state-owned carrier. A key part of the plan includes fleet renewal which could see a narrow- and wide-body order being placed sometime this year, Fathi told Reuters in November 2015.