Lets wait for the report. But I cannot follow Yamaha's maths, my company operations manual defines 60 minutes single engine flight on the NG as 375 NM. If they were 300 miles from LCA and 200 from Cairo the difference is 16 minutes in theory, in practice probably less. The theoretical time to landing in Larnaca is 48 minutes. What is all this about flying an additional unnecessary 60 minutes?
In any case the Boeing flight crew training manual specifically says: 'The pilot in command may determine, based on the nature of the situation and an examination of relevant factors that the safest course of action is to divert to a more distant airport than the nearest airport.'