1Time Holdings shares jump on better figures for airline unit
1time Holdings is reportedly expected to report earnings per share between USD 0.1 cents and USD 2.5 cents and headline earnings of USD 20.0 cents to USD 24.0 cents for the 12 months ended 31-Dec-2010. The group’s 1time Airline subsidiary reported a 10% increase in revenue and a 7% increase in passenger numbers.
Margins at the carrier fell, however, due to a 10% increase in fuel costs and a 36% increase in airport charges. The group is expected to report its full-year financial results on 17-Mar-2011.
1Time Holding shares gained 4.3% on Monday. Shares in Kenya Airways were also up 4.3%. Kenya Airways CEO, Titus Naikuni, announced the IPO of subsidiary Precision Air will only be open in Tanzania, locking out Kenyan investors. The carrier is expected to list in Apr-2011.
Selected MEAAD daily share price movements (% change): 14-Mar-2011