The Lebanese air carrier, Middle East Airlines (MEA), announced Sunday the cancellation of its decision to accept only dollar payments after an outcry in the country, against a background of depreciation of the national currency.
“At the request of Prime Minister Hassan Diab, the MEA management has decided to reverse its decision to sell plane tickets only in its offices in dollars,” the company said in a statement to local media.
A few hours earlier, the national news agency ANI had announced the decision of MEA and other airlines operating in Lebanon to only accept payments in US dollars from Monday. Travelers can pay by check or bank card provided their account is in foreign currency, said ANI.
This announcement caused a wave of indignation especially as the MEA is placed under the supervision of the Central Bank which is the main shareholder.
In Lebanon, the greenback is used daily in the same way as the Lebanese pound.
If the official exchange rate fixed by the Central Bank has not changed, a parallel rate is applied in the exchange offices, causing losses for people wanting to buy dollars due to the depreciation of the Lebanese pound.
The issue is all the more problematic since for months the Lebanese have been facing drastic banking restrictions on dollar withdrawals.
To get green notes, you often have to go to exchange offices, where the Lebanese pound is now traded at more than 2,000 pounds for a dollar, even if officially the pound is still indexed on the green note at the fixed rate of 1.507 pounds for a dollar.
These twists illustrate the ramifications of the serious economic crisis in which the country has been plunged for months.
Since October 17, Lebanon has been living to the rhythm of an unprecedented protest movement demanding the departure of the political class, almost unchanged for decades and deemed corrupt and incapable of ending the economic slump.
The revolt was sparked by the announcement of a tax – it was also quickly canceled – on calls via WhatsApp messaging which caused a popular annoyance having taken power completely short.
“The MEA belongs to the Lebanese state, it is a flagrant violation of the law”, had rebelled on Twitter a surfer before the annulment of the decision of the airline company. “We are not going towards collapse, we are in the middle of it.”
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