Whether caused by terrorism or mechanical failure, the crash of an EgyptAir jet into the Mediterranean is the latest blow to Egypt’s efforts to rebuild its economy after five years of political turmoil.
The 2011 revolution, the unrest that followed, and the downing of a Russian airliner last year sapped life from the economy and what was once one of the most promising and fastest-growing tourism markets in the region. The loss of Flight MS804 came as President Abdel-Fattah el-Sissi aims to project an image of authority and security to revive growth. Egyptian shares fell as much as 2.1 percent on Thursday.
“The worst case scenario for public opinion inside and outside Egypt would be if the accident was caused by incompetency of Egyptian staff at a time when the government is trying to present a picture of itself as disciplined and competent,” said Gamal Abdel Gawad, political science professor at the American University in Cairo.
Read more at Chicagotribune