My Account Menu

CAPA Login

Register to trial CAPA Membership!

Emirates denies reports it is considering IPO,1time rallies; Lonrho and Air Arabia down;


1time Holdings (+9.0%) shares surged on Thursday (25-Feb-2010), shrugging off another slip in the South African All-Share Index (-0.8%). The South African Rand (ZAR) fell to its lowest level since Nov-2009, as investors sold high risk stocks on weak US data released during trading, including an increase in jobless claims. Lonrho (-2.1%) fell with the decline, while Comair was flat. Also in Africa, Kenya Airways was also flat.

In the Middle East, Royal Jordanian Airlines (+0.5%) rose slightly, while Air Arabia (-1.0%) fell. 

Emirates Chairman, Sheik Ahmed bin Saeed Al Maktoum, told Zawya Dow Jones this week that it has no current plans to launch an initial public offering (IPO) and denied rumours that the carrier or its subsidiaries were part of negotiations with Abu Dhabi, when the Abu Dhabi Government offered USD15 billion in financial assistance to Dubai, as Dubai Government-owned, Dubai World, requested an extension on USD26 billion in debt.

However, Sheikh Ahmed stated that the carrier may consider launching an offering one day, adding that if an IPO was held he is :sure it would be good, especially if placed in UAE stocks markets:.

The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!

Selected African and Middle Eastern airlines share price movements (% change): 25-Feb-2010

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.