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AirArabia affected by Dubai Debt Crisis; Air Berlin to commence mail services for Deutsche Post


Air Arabia shares slumped 9.6% yesterday, outpacing the overall reduction in the Dubai (-7.3%) and Abu Dhabi (-8.3%) stock markets, on continued concerns regarding the Dubai World Debt Crisis.

Air Berlin to commence mail services for Deutsche Post

In Europe, Air Berlin’s shares were down 0.7% yesterday. Also on 30-Nov-2009, Air Berlin announced plans to commence mail services for Deutsche Post. The carrier will operate two B737-800s every weeknight between Hanover and Munich, handling approximately 15 tonnes of mail. The contract with Deutsche Post is initially due to run until the end of Mar-2012.

Strong month for GOL’s share price

In Brazil, GOL shares rallied 5.6% on Monday. GOL’s US shares gained 38% during Nov-2009.

Indian jet fuel prices reduced

In India, SpiceJet shares gained 3.7% yesterday, despite the fact that 13% of its shares are held by Dubai World's Istithmar, as Indian Oil Corp (IOC), Bharat Petroleum Corp and Hindustan Petroleum reduced Indian jet fuel prices by approximately 1.1%, effective 01-Dec-2009. Fuel prices were increased by approximately 2.4% on 15-Nov-2009.

Selected LCCs daily share price movements (% change): 30-Nov-2009

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