Middle East Airlines (MEA) has reported a net profit of $3 million for 2002 and is in the black for the first time in 26 years. It had lost $450 million since the Lebanese Central Bank acquired it in 1996. MEA attributed the turnaround to a restructuring plan and a good summer tourist season.
Source: Flight International
Japan’s two largest carriers reported a drop in profit for the April-June quarter, despite seeing an increase in revenues.
The US Department of Justice (DOJ) is taking another 10 days to review Alaska Air Group’s proposed acquisition of Hawaiian Holdings, with the airlines now agreeing not to close their planned deal before the period ends on 15 August.
Air New Zealand has axed its interim climate targets, stating that measures needed to meet the target were unaffordable and not readily available.
