Middle East Airlines to commence partial privatisation this year
Middle East Airlines Chairman, Mohammed Hout, stated the company will commence the process of partial privatisation this year, adding that he expects shares in the carrier to commence trading on the Beirut Stock Exchange by 2011, once the IPO process has been completed (Associated Press/Gulf Times, 08-Apr-2010). The carrier plans to sell a 25% stake in the company on the market. The carrier's initial plans to partially privatise the company in 2008 were delayed by the global economic crisis. MEA, founded in 1945, currently operates a 13 aircraft fleet serving a network of 29 destinations. Two additional aircraft are scheduled for delivery in May-2010.