Lebanon and Syria to Launch Joint Airline
Syrian Transport Minister Makram Obeid declared that Lebanon and Syria are planning to launch a joint airline between Middle East Airlines (MEA) and the Syrian Arab Airways (SAA). The joint-venture requires a capital investment of $20 million, and would begin with 3 planes accommodating up to 30 passengers each.
The Syrian and Lebanese airlines would own 30 percent of the project, while 40 percent would be open to investors and the remaining 30 percent would be sold on the stock market. Obeid added that the joint airline would complement Syrian Airways, which is expected to double in size and increase its flights by 2002. — ( Banque du Liban et d'Outre-Mer Sal )
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