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African shares on a downward slide; Kenya Airways encoures travellers to visit Angola


Kenya Airways (+0.5%) stated it aims to assist passengers in obtaining visitors' visas in an effort to encourage travellers to Angola. There is no Angolan Embassy in Nairobi and passengers seeking to fly to Angola require to obtain a visa from Tanzania, which is accredited to serve Kenya.

The carrier commenced twice weekly Nairobi-Luanda services on 17-Aug-2010 in codeshare with Angolan Airways (TAAG). CEO, Titus Naikuni believes, the frequency of the service will increase with time. Mr Naikuni also added KQ will "relentlessly peruse its growth objective in 2010 by adding new routes to its network and improving efficiency". The carrier plan to acquire two long range Embraer 190LR aircraft to serve regional routes.

Mr Naikuni also highlighted the urgent need to hasten the expansion of Jomo Kenyatta International Airport (JKIA) due to congestion. He added “Expansion works are underway but we would like this to speed up because we are losing to competition in the North,” he said adding the carrier planned to launch more routes but is restricted due to availability of space.

African shares were on a downward slide on Tuesday (17-Aug-2010) with Lonrho (-4.4%), Comair (-1%) and 1time (-0.7%) down.

Meanwhile, Middle East shares remained relatively stable with Kuwait National Airways (-1%) and Air Arabia (-0.5%) slightly down while Royal Jordanian and Jazeera shares stayed steady.

Selected African and Middle Eastern airlines share price movements (% change): 17-Aug-2010

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