Sources at the Egyptian Travel Agents Association and the Ministry of Tourism revealed that the amount of money disputed between the Ukrainian company Join Up and the Egyptian company Flash Tour is roughly $2.7m.
The sources said that the Ministry of Tourism has intervened to resolve the dispute in order to preserve the continuation of the work of the Ukrainian company in the local market—one of the most important foreign travel agencies in it.
The Disputes Resolution Committee at the Egyptian Travel Agents Association stopped the intervention to resolve the problem because of the high value of the dispute.
The sources explained that the Ukrainian company is obliged to pay 65% of the disputed amount, and repayment of the remaining amount in installments over an unspecified period.
Flash Tour presented to the Ukrainian judiciary its contracts with Join Up to prove their financial dues.
The sources said that the agreement reached between the two companies means Flash Tour will have to waive its case as soon as it receives the amount.
They added that the Ukrainian company’s name has now been unblocked and removed from the blacklist and that the Egyptian companies working with it will not be punished.
The sources pointed out that the Ministry of Tourism is seeking to cooperate with all the organisers of overseas trips to ensure bringing the largest number of tourists in the coming period, taking into account the interests of the Egyptian companies.
The Egyptian Travel Agents Association warned all Egyptian companies against applying sanctions prescribed to Article 9 of Law No. 85 of 1968 on them if any company provides tourist services to the Ukrainian company until the reconciliation and payment of all arrears.
The Association was in favour of Flash Tour in its dispute with Join Up.
Flash Tour called on Join Up to pay $2.7m of the accumulated dues, but Join Up evaded payment.
Flash Tour refused to comment on the reconciliation until the official completion and agreement on the duration of the repayment.