22-Mar-2010 1:45 PM

Middle East Airlines profits falling by USD6 million per month due to rising competition

Middle East Airlines’ profits have reportedly been declining by USD6 million per month since Oct-2009, due to increased competition (The Daily Star, 22-Mar-2010). Middle East Airlines reported profits reached USD105 million in 2009. Meanwhile, Middle East Airlines Chairman, Mohammad Hout, wrote to the Prime Minister, Saad Hariri, warning of the consequences the national carrier faces if a "fair and controlled" open skies policy in Lebanon is not implemented, adding the capacity in Beirut has reached the limit. [more - Perspective]