1time up with wider market; Royal Jordanian continues fall; Air Arabia flat

Middle East and African airline shares were mixed again on Tuesday (02-Feb-2009). In the Middle East, Royal Jordanian's (-4.6%) shares continued to fall, pushed lower by a 1.2% drop in the Amman Stock Exchange.

Jazeera Airways (-1.1%) was also down. The carrier announced over the weekend that it is now officially the sixth largest carrier operating to/from Lebanon, according to the latest flight and passenger figures for 2009 released by Beirut Rafic Hariri International Airport.

Air Arabia (+0.0%) meanwhile was flat. It was announced over the weekend that the carrier awarded SITA a five-year contract to provide web check-in for passengers flying from Sharjah International Airport. Kuwait National Airways (+0.0%) was also flat.

In Africa, 1time (+0.9%) made gains, as South Africa’s FTSE/JSE Africa All Share Index (+1.2%) was up for the first time in four days.

Kenya Airways (+0.0%) was flat, despite Kenya’s All Share Index (+0.2%) rising for its second consecutive day.

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Selected African and Middle Eastern airlines share price movements (% change): 02-Feb-2010