MEA slashes fuel surcharge in half after international oil prices decline | Business , Local | THE DAILY STAR
BEIRUT: Middle East Airlines has reduced its fuel surcharge to reflect the recent drop in oil prices, company chairman Mohamad al-Hout announced Monday.
“Middle East Airlines has reduced by 50 percent the charge on travel tickets that had been imposed due to the surge in oil prices,” Hout said after meeting Prime Minister Tammam Salam, according to a statement released by the premier’s office.
MEA had imposed a surcharge of about 15 percent of the price of a ticket after oil prices began to spike over the past few years. The surcharge has now been reduced to about 7.5 percent of a ticket’s price.
The chairman told The Daily Star in a recent interview that he had been considering reducing the fuel surcharge by half after oil prices started to fall in June 2014.
Hout revealed that the revenue from the surcharge is close to $100 million a year.
Tickets from Lebanon to Africa were reduced by around $100 and tickets from Beirut to London or Paris by $85, Hout said.
“We have started implementing this price reduction starting today,” he added.
Hout also discussed with the premier the airline’s ongoing projects, including the arrival of a flight simulator at the MEA flight-training academy, the statement said.
The unaudited profits of MEA in 2014 rose to $69 million despite the difficult economic and political conditions in the country.
Hout also briefed Salam on plans to open the aviation-training center near the airport.
Source: The Daily Star