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Royal Jordanian fined; Jazeera Airways largest operator at Kuwait Airport; Lonrho and 1time slump

15-Apr-2010

Middle East carriers’ shares were mixed on Wednesday (14-Apr-2010). The UAE’s General Civil Aviation Authority (GCAA) reported a 12.5% year-on-year rise in aircraft movements in Mar-2010, to 53,750. For the three months ended 31-Mar-2010, aircraft movements rose 11.7%, to 153,000.

Kuwait-based Jazeera Airways (+3.0%) rose. The carrier announced it was the largest operator at Kuwait International Airport in 1Q2010, with 4,549 aircraft movements and an on-time performance of 93%. Jazeera has operated at an on-time performance above 90% for every year since it launched in late 2005. In 2009, the airline carried more than 1.8 million passengers, capturing more than 24% market share.

Kuwait National Airways (-1.9%) was down and Royal Jordanian (-2.9%) also fell, as the Amman Stock Exchange dropped 1.5% yesterday. Air Arabia (+0.7%) gained.

In Africa, Comair (+3.5%) was the day’s only gainer, moving with South Africa’s JSE Index (+1.9%), which is at its highest point since Jul-2008, reflecting increasing oil and commodities prices.  

Lonrho (-5.2%) shares dropped back following an 11.5% rally the day prior, while 1time (-2.6%) and Kenya Airways (-0.8%) were also down.

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Selected African and Middle Eastern airlines share price movements (% change): 14-Apr-2010


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