Moscow suspended flights to Egypt after an Islamic State bomb brought down a Russian airliner over Sinai in October 2015, killing all 224 people on board.
The attack decimated Egypt's vital tourism industry. Egyptian authorities have since spent millions of dollars to upgrade security at its airports, hoping to get Moscow to change its mind.
In comments on Russian state television, Transportation Minister Maxim Sokolov said today that Egypt and Russia have yet to sign a security protocol but that direct flights should resume in early February.
President Vladimir Putin on a visit to Cairo on Monday said the deal on the resumption of flights could be signed "in the nearest time" and praised Egypt's efforts to boost security at its airports.
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In the wake of the IS bombing, Britain, another major source of visitors to Egypt, suspended flights to Sharm el- Sheikh, the Red Sea resort in Sinai from which the doomed Russian airliner took off.
It was his second visit to Egypt in as many years, and Putin and Egyptian President Abdel-Fattah el-Sissi appeared keen to cement their countries' ties, which have deepened in recent years as Moscow has expanded its reach across the region.
El-Sissi, who has visited Russia twice since taking office in 2014, has signed deals to buy billions of dollars' worth of Russian weapons, including fighter jets and assault helicopters.
Yesterday, Egyptian Aviation Minister Sherif Fathi headed to Moscow to meet with his Russian counterpart to finalise the agreement on the resumption of flights.