Kuwait Airways projected losses of KWD52.2 million (USD179 million) in the fiscal year to Mar-2011. Revenue for the year is forecast at KWD247.3 million (USD853 million) with expenditures of KWD299.5 million (USD1.0 billion), according to the 2010/2011 Budget approved by the Kuwaiti Parliament.
See related CAPA profile: Financial Results
In Africa, Lonrho (-6.5%) shares fell yesterday. Its Fly540 subsidiary announced the launch of daily services from Nairobi Wilson Airport to Mara, Samburu, Nanyuki and Amboseli, popular safari park destinations in Kenya.
In other African news, 1time Holdings (+2.9%) announced plans to transfer from the alternative exchange of the Johannesburg Stock Exchange to the main board, effective 05-Jun-2010.
Selected African and Middle Eastern airlines share price movements (% change): 29-Jun-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.