Lebanon Businessnews News

Cedar Executive to receive second private jet
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National flag carrier Middle East Airlines’ (MEA) subsidiary Cedar Executive has ordered a second Embraer Legacy 500 which is scheduled for delivery in the second quarter of 2017.

The new addition is expected to help meet growing demand in jet travel from companies and business individuals.

The Beirut-based company launched services with the Legacy 500 last year to complement its commercial airline offering, and to plug a gap in the market for ad hoc VIP travel. MEA acquired a loan more than a year ago to purchase the first Embraer Legacy 500, which cost at that time $19 million.

“People here like to charter private jets, but there is a shortage of aircraft,” said Fouad Fawaz, Chief Executive of Cedar Executive. “MEA has a good reputation in the region which we use as a springboard to promote the service,” he said.

Fawaz also said that the Legacy 500 is a perfect fit for this market with its stand-up-cabin, and 5,790 kilometer range, putting it within reach of popular destinations such as Turkey, Egypt, and Greece.

The company has a fixed base operation and maintenance facility in Beirut but the Legacy 500 and its passengers are supported at other major airports by MEA’s local handling agents.

Fawaz said that the company may consider purchasing more aircraft in the near future if demand is strong enough.
Reported by Yassmine Alieh
Date Posted: Dec 09, 2016
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