Middle East Airlines fleet expansion
Middle East Airlines fleet expansion |
Airline Code [MEA]
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In Jun-07, the carrier converted its order for four A319s to four A320s, due to the available of earlier delivery slots for the larger type. The carrier aims to deploy the new aircraft to Paris (three times daily) and twice daily to Dubai, Cairo, Riyadh and Jeddah. MEA is targeting to launch a daily service to Frankfurt and is considering services to Moscow and Sudan. In addition to the financing from Fransabank, the acquisition of four aircraft is currently financed through Bank Audi and the carrier is in negotiations to secure further financing. According to President, Mohammad Hout, MEA has "lots of offers" from both international commercial lenders and Lebanese banks and expects to finalise the next round of financing in early 2008. Hout stated that MEA achieved profits of approximately USD20 million in 2006, although firm, final results have not yet been published. Profitability was less than the USD55 million originally forecast for in 2006, but was still positive despite the severe disruption to operations brought about by the recent conflict in Beirut, including the shut down of Beirut International Airport by Israeli bombing. |
