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Royal Jordanian to receive first B787 in Sep-2013; Lonrho shares down 1.5%

3-Dec-2010

Royal Jordanian (+0.6%) President and CEO Hussein Dabbas stated it expects to receive its first B787 in Sep-2013 with four more to arrive by 2014. Further deliveries will be made from 2015. The carrier has 11 B787 orders. Mr Dabbas also stated the carrier will make a "decent profit" in 2010 despite a 37% increase in fuel costs

Mr Dabbas also announced the carrier is planning further expansion into the African market in 2011 with Nigeria the first route under consideration. Royal Jordanian launches about two routes per year, with plans already in place to launch service to Berlin in Jun-2011. The carrier is looking at Lagos as its second destination, but added: "If it doesn’t work for Lagos we will look at another African destination."

Kenya’s All-Share Index fell for a ninth day, the longest streak of losses since Mar-2009, dropping 0.9% to close at 78.78 by 15:00 in Nairobi while Mauritius’ SEMDEX Index increased for a third day, adding 0.4% to close at 1924.01 by 13:30 in Port Louis, the highest since Mar-2008.

African shares were mostly on the downturn with Lonrho (-1.5%), 1time (-1.2%) and Air Mauritius (-0.6%) down while Comair and Kenya Airways remained stable.

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


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