Lebanon's Middle East Airlines will be laying off one-quarter of its workforce, one third of which will be worked out by a series of forced redundancies of workers 60 and over.
The move, which will affect about 1,200 workers, is part of a restructuring program for the financially strapped airline that was ordered by the Lebanese government.
According to Mohammed Al-Hout, the airline’s chairman, 450 employees will leave through the redundancy program, and 250 workers will be offered early retirement.
MEA, which reportedly has been losing about $50 million a year, is supposed to be headed for privatization. Prime Minister Rafiq Hariri is reportedly reluctant to use state funds to prop up the company, which has eaten up more than $499 million in state funds since 1996. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)
© 2000 - 2019 Al Bawaba (www.albawaba.com)