The General Assembly of the shareholders of Middle East Airlines – Air Liban, held a meeting at the company’s Head Quarters on January 4, 2022 in the presence of the Chairman and Members of the Board of Directors, representatives of the Lebanese Central Bank and Deloitte & Touche and Ernst & Young, in addition to some shareholders.
During the meeting, the company’s accounts for the years 2011 to 2020 were approved, whose total net profits exceeded $700 million (Table attached) .
It was also approved to distribute dividends for the years 2011 to 2018 at a value of $55 million annually, a total of $440 million. It was also decided not to distribute dividends for the years 2019 and 2020 .
The Assembly renewed the election of the current members of the Board of Directors for a period of 3 years, and they are: Messrs.: Mohamad El-Hout, Marwan Salha, Michel Tueni, Sami Matta and Fouad Fawaz .
After the assembly was convened, the Board of Directors forgathered and reelected Mr. Mohamad Abdel-Rahman Al-Hout as Chairman and Director General of the company.
Following his re-election, the Chairman of the Board of Directors, in his name and the name of the Members of the Board, thanked the shareholders, namely, the Major shareholder, the Central Bank of Lebanon, in the person of His Excellency the Governor, Dr. Riad Salameh, for the support and confidence he gave to the company and to its Board of Directors. The Chairman also praised the efforts of all the company’s employees, including pilots, flight attendants, engineers, technicians, employees, and workers, who contributed wholeheartedly to achieving these positive results in the most difficult conditions that Lebanon and the aviation industry are going through.