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1time to amend complaint against Kulula; Middle Eastern shares a mixed bag

3-Aug-2010

South African Competition Tribunal permitted 1time (+14.8%) to amend its original complaint against Kulula, regarding access to Lanseria Airport. Kulula and Lanseria signed an exclusivity agreement in 2006. 1time alleges the agreement amounts to exclusionary behaviour in contravention of the Competition Act.

South Africa’s FTSE/JSE Africa All Share Index rallied 527.98, or 1.9%, the biggest advance in almost a month.

Middle Eastern shares were a mixed bag with Jazeera (-1.8%) and Air Arabia (-0.6%) down while Royal Jordanian shares were stable and Kuwait National Airways (+1%) rose slightly.

Selected African and Middle Eastern airlines share price movements (% change 02-Aug-2010)


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