Lebanon’s central bank, Banque du Liban, has blocked a proposed takeover of financially troubled Cyprus Airways by Beirut-based Middle East Airlines (MEA). Central Bank governor Riad Salameh said the bank could not approve MEA’s bid because it could increase the Lebanese carrier’s exposure to risk, according to Lebanon’s Daily Star. The paper quoted Salameh as saying: “Commercially, this matter is left to MEA to assess the acquisition. But in principle the ...

Subscribe to Access this Entire Article

"Bank blocks Middle East Airlines takeover of Cyprus Airways" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.