Lebanon Businessnews News

Three new MEA planes
Profits up by 11 percent
Share     Share on Facebook     Share on LinkedIn    
Middle East Airlines (MEA), the national air carrier, will buy three new passenger planes next year.

According to Mohammad el Hout, Chairman of MEA, “the purchase will be made to keep the average age of our planes at five years, although a plane can last for around 25 years.” This step will help reduce the chance of technical difficulties and give a more credible image of the company in a bid to grow its competitiveness.

The three new planes follow the purchase of a ten-plane fleet the company bought two years ago and will start receiving in 2018.

The three new planes are Airbus 330s, seating more than 250 passengers. According to the Airbus 2014 price list, the starting price of this type of airplanes exceeds $222 million. MEA is still in negotiations with Airbus regarding the value of the deal. MEA will sell two planes from its fleet, in order to buy the three new ones.

MEA’s unaudited profits grew by 11 percent annually in 2014, to reach $70 million. El Hout said that the annual cost slumped, due to the sharp drop in international oil prices. This led to a large growth in MEA profits.
Reported by Yassmine Alieh
Date Posted: Apr 15, 2015
Share     Share on Facebook     Share on LinkedIn