Lebanon's state-owned Middle East Airlines (MEA) has raised funds to purchase six Airbus 321 planes for operation in 2003. The deal is valued at $270 million with each plane having a catalogue value of $65 million, reported blominvest.
International capital markets will finance 85 percent and the rest will be funded by local and foreign banks. The loans are estimated to carry a 1.5 percent interest with a 12-year maturity. MEA currently has nine Airbus planes that fly to nearly 20 destinations in Europe and the Middle East. — (menareport.com)
© 2002 Mena Report (www.menareport.com )