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MEA may bid for CAIR

14/02/2012 08:42
Lebanon’s Middle East Airlines said on Monday it may bid for a stake in Cyprus Airways.

“We feel there is real potential for us and we are studying it seriously,” MEA Chairman Mohamad el-Hout said in a telephone interview, adding that Beirut-based company is in the early stages of considering the case for an investment.

The Council of Ministers said last Wednesday that it wanted to sell part of its shares in CAIR to private investors and to issue new capital.

In the first half of 2011, CAIR suffered losses of €29 million.