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Air Arabia confirms Alexandria-Beirut service; Privatisation of Kuwait Airways progresses

Analysis

Air Arabia (-0.5%) confirmed on Monday (28-Jun-2010) the launch of four times weekly service to Beirut from its third hub in Alexandria from 01-Jul-2010.

Summary
  • Air Arabia announces new service to Beirut from Alexandria hub.
  • Kuwait Investment Authority awards contract for legal advice on Kuwait Airways' privatisation.
  • African airline shares show mixed performance, with 1time and Kenya Airways down, while Lonrho and Comair rise.
  • Air Arabia expands its network with new route to Beirut.
  • Kuwait Airways moves forward with privatisation plans.
  • African and Middle Eastern airline shares experience varied changes in stock prices.

See related CAPA profile: Route Changes

Meanwhile, the Kuwait Investment Authority (KIA), which is overseeing the privatisation of Kuwait Airways (0%), reportedly awarded Abdulhameed Al-Sarraf and Partners and Baker and McKenzie a contract to provide legal advise on the privatisation of the carrier.

See related CAPA profile: Privatisation

African shares were mixed, with 1time (-5.5%) and Kenya Airways (-1.1%) shares down while Lonrho (+4.6%) and Comair (+4.6%) were on the rise.

Selected African and Middle Eastern airlines share price movements (% change): 28-Jun-2010

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