Societe Generale de Banque au Liban (SGBL) announced the signing of an agreement with MEA to finance the purchase of a new aircraft type A330-243, within the framework of the bank’s contribution to the expansion and development of the Lebanese companies and the revitalization of the Lebanese economy.

The new airplane which was received by MEA in 2016 is leader in its category and incorporates the latest equipment and comprises 244 very comfortable seats, 44 in the business class and 200 in the economy, in addition to a new entertainment system of the highest quality to ensure the passenger well-being. With the arrival of the new aircraft, MEA operates in full capacity with a fleet of 20 modern and advanced aircraft that provide high end services, thus reflecting Lebanon cultural and civilized face.

Commenting this partnership, Antoun Sehnaoui, SGBL's Chairman and CEO declared: “We are impressed by MEA group dynamism and continuous growth, in order to provide high end services and bolstering Lebanon image all over the world, especially that it is the leading Lebanese national company. SGBL is committed to the growth of economic activities in Lebanon. We are in the forefront of the national institutions that grant loans to the private sector. The banking sector in general and SGBL, in particular, remain the basis of the development processes of the Lebanese financial and economic sectors. We have financed the MEA with this new airplane to confirm our continuous support to the local economy and growth of our country”.

Mohamad El Hout, MEA Chairman, thanked SGBL for its trust in the company and for contributing to the development of its fleet. The financing operation, in these specific circumstances and at interest rates competitive with those of international banks, is a proof of the Lebanese banking sector’s capacity to keep pace with the developments and move forward with financing operations which are beneficial to the various institutions of the Lebanese economy and contribute in creating job opportunities for thousands of Lebanese every year.

Mr. El Hout offered to Mr. Sehnaoui a miniature of MEA aircraft to be financed by SGBL in addition to the collection of the commemorative medals issued by the Lebanese Central Bank in honor of the national company.