Air Arabia “happy" with Moroccan performance; Kenya Airways, Kuwait National Airways make gains
Air Arabia (-1.1%) was the only Middle East/African carrier to end Friday trading down.
Air Arabia Moroc COO, Rohit Ramachandran, stated after trading that the group is happy with its current performance and may need to order additional aircraft in addition to the 44 Airbus on order by the Air Arabia Group, to assist expansion plans.
Mr Ramachandran stated Air Arabia Moroc’s parent, ended 2009 will a load factor “in the early 80s”, despite the weak economic environment.
Meanwhile Kenya Airways (+5.1%), Kuwait National Airways (+1.8%) and Jazeera Airways (+1.0%) were up at the end of trading. Jazeera Airways last week announced the delivery of a new A320 aircraft, increasing the carrier's fleet to 11 A320s. 1time Holdings was flat.
Selected African and Middle Eastern airlines share price movements (% change): 15-Jan-2010