Lonrho climbs; 1time flat; Air Arabia and Kuwait National Airways down
Comair (-1.7%) shares were down yesterday, while Kenya Airways and 1time Holdings were flat. Also in Africa, Lonrho (+8.5%) shares climbed after the company increased its stake in building solutions company, Kwikbuild, to 70%.
In the Middle East, Air Arabia (-1.1%) fell despite the carrier's Board of Directors proposing a cash dividend of 10% for 2009. This proposal is subject to ratification at the company's upcoming AGM on 18-Mar-2010.
The carrier's Moroccan unit announced plans to launch three times weekly Casablanca-Montpellier service from 28-Mar-2010 with A320 equipment. Montpellier is the fourth French and 13th European destination in Air Arabia Maroc's network.
Elsewhere, Royal Jordanian (-2.6%) and Kuwait National Airways (-1.8%) were down, while Jazeera Airways (+1.0%) gained.
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Selected African and Middle Eastern airlines share price movements (% change): 17-Feb-2010
Source: Centre for Asia Pacific Aviation & Reuters