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in Air Transport / Business & Finance

Lebanese bank funds $65m MEA aircraft purchase

Posted 14 January 2009 · Add Comment

An agreement signed between the Lebanese Canadian Bank and MEA (Middle East Airlines will help MEA expand its fleet by part funding the purchase of a new Airbus 330-200 airplane. The value of the loan is believed to be $65million.

The agreement was signed by the chairman of the Lebanese Canadian Bank, George Zird abu Jaoude, and MEA chairman Mohammad al-Hout. Jaoude praised al-Hout for his persistent efforts to upgrade MEA and "place it once again among the leading and profitable airlines."

He said that the new partnership between the bank and mea would pave the way for a better future for the country, in which the financial sector would cooperate with the tourism sector to benefit everybody.

MEA’s fleet is believed to be entirely financed by Lebanese banks.
 

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