Despite regional tension and surrounding conditions, Middle East Airlines has maintained a profitable growth in 2014 according to its chairman.
“Our unaudited profits for 2014 were close to US$69 million compared to around US$63 m in 2013. We suffered some losses in the first three months of last year, but we managed to recuperate those losses and make a profit after number of passengers at Rafik Hariri International Airport picked up again,” Hout was quoted in The Daily Star.
Total gross revenues in 2014 were estimated at more than US$700 million.
“The challenges MEA faced in 2014 were similar to 2013 in terms of sustaining operations and achieve profits amid difficult security and political conditions,” Hout said.
He attributed the good results to careful planning, restructuring measures and increase in flight destinations.
Hout said MEA had to cope with an eight percent decline in number of passengers at the airport in first three months of 2014. “We managed to recuperate this loss in the second quarter of last year as more passengers and especially the Lebanese started flocking back to the country,” Hout said.