Economy Minister holds conference to address reducing the number of Middle East flights by up to 80 percent

Lebanon Economy
2023-10-23 | 11:06
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Economy Minister holds conference to address reducing the number of Middle East flights by up to 80 percent
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Economy Minister holds conference to address reducing the number of Middle East flights by up to 80 percent

The caretaker Economy Minister Amin Salam held a conference to address the topic of air travel, particularly the reduction of Middle East Airlines flights by up to 80 percent, a decision that has significant implications for the country, especially in the current circumstances, and beyond the adjustment of insurance coverage by companies.

Salam emphasized that the Lebanese Law of Middle East Airlines allows them to contract with external firms. 

However, the supervisory authority responsible for protecting policyholders did not know the contracts signed between Middle East Airlines and insurance companies abroad.

He explained that "when these insurance companies abroad decided to reduce the number of Middle East Airlines flights by up to 80 percent, the Economy Ministry could have intervened before reaching this stage to negotiate better terms."

In a press conference, Salam revealed the existence of other options that Middle East Airlines could have pursued:

"The first option was to modify the aircraft section or increase the insurance coverage, keeping a more significant portion of the flights or aircraft in operation. This is a matter of risk management.

The second option was that we could not cancel 80 percent of the flights, even if the costs were raised. With a single company and a single decision, we cannot disrupt 80 percent of travel to and from Lebanon."

Salam also stated that several meetings are being held to discuss food security and consumer goods, inviting all relevant unions, the petroleum and transportation sector, to an extended meeting to be fully aware of our available inventory of foodstuffs and the necessity of providing fuel for transportation, medicine, and the equipment needed.

Lebanon News

Lebanon Economy

Economy

Minister

Conference

Address

MEA

Middle East

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