Egypt Air - how do they do it?

I have seen the advertisement in the newspapers now for months and have to turn it over to the readers for clarification. Is Egypt Air really offering a round-trip ticket to New York for USD 770 only? The ad says taxes not included, but honestly, how much can they be? There's also a 40 kilogram baggage allowance, which is a bit of a step down from Ethiopian's 70, but still, the price difference is quite marked.

I'm wondering what the deal on this is. One acquintance flew Egypt Air from Cairo to Addis and didn't think too highly of it. This was after flying Qatar Airways, which I can only imagine is fit for a sheik. (Interestingly, this acquintance flew Ethiopian on her return to the Far East and, of all three airlines, she indicated Ethiopian was by far the best and I don't think she was trying to flatter us.)

This is definitely a mystery. Has anyone flown Egypt Air? How does it rate? I think it would be pretty cool to fly into Cairo, having never been there, to maybe catch a glimpse of the Nile and the Pyramids (if possible).