Air Arabia's (+0.4%) subsidiary, Air Arabia (Maroc), extended (23-Sep-2010) its cooperation with AVIAREPS in Europe to cover Public Relations activities. With immediate effect, the company will handle PR activities on behalf of Air Arabia (Maroc) in Germany/Switzerland, Benelux, France and Italy.
The airline provides direct flights from its base in Casablanca to the cities of Brussels, Montpellier, Paris, Lyon, Basel-Mulhouse, Milan, Bologna, Barcelona, Istanbul and Amsterdam. Starting in Nov-2010, Air Arabia (Maroc) will offer three weekly flights from Cologne (Germany) via Fes or Nador to Casablanca.
Qatar Aviation Leasing reportedly launched syndication of a USD650 million loan agreed earlier this year in order to reduce the pricing. Qatar Aviation, set up to purchase aircraft and lease them to Qatar Airways, signed a USD650 million, three-year loan in Mar-2010 with a margin of 250 basis points (bps) over LIBOR, with the new agreement to see pricing halve to 125 bps, according to reports. The new loan will also carry a sovereign guarantee and has been underwritten. Of the 30 banks reportedly in the original syndicate, 16 are from the Gulf region.
Selected African and Middle Eastern airlines share price movements (% change): 23-Sep-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.