Lebanonwire.com | Lebanese carrier MEA's 2004 net more than doubled

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July 14, 2005

Lebanese carrier MEA's 2004 net more than doubled

BEIRUT, Lebanon - Lebanon's Middle East Airlines (MEA) said Thursday its net profit surged 124 percent in 2004 to 22.3 million dollars on the back of a healthy tourist season.

MEA said passenger traffic rose to 1.14 million people from 980,000 a year earlier, on the back of a 26 percent rise in tourist arrivals to 1.3 million -- a record for the second consecutive year.

However, the company said tourism has dropped sharply this year, as a result of the political crisis following the February assassination of former premier Rafiq Hariri in February, and that could weigh on 2005 results.