A number of international carriers have suspended flights to Egypt’s Sharm El Sheikh following a terrorist attack that led to the downing of a Russian airliner over the Sinai Peninsula on October 31, 2015. Among them are British Airways, Easyjet, Thomas Cook and Lufthansa; the UK government has also suspended all flights to the popular tourist destination. Russia has followed suit, with president Vladimir Putin suspending all commercial flights between the two countries.
Russian tour operators have already lost more than $23m since flights were suspended. Egypt, meanwhile, faces losing up to $280m per month due to flight cancellations. Russia and the UK are the country’s top tourism source markets, with 3 million Russians visiting the country in 2014. Tourism accounts for roughly 12% of employment in Egypt, or nearly 3 million jobs.