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Air Arabia increases flights to Goa; Kenya Airways to launch Nairobi-Juba service

Analysis

Air Arabia (-4.6%) fell on Tuesday (25-May-2010), along with the Dubai Stock Exchange which slumped by -4.6%. During trading the Sharjah-based airline announced plans to increase its weekly flights to Goa, India.

Summary
  • Air Arabia plans to increase its weekly flights to Goa, India.
  • Kuwait Airways shares rose while Jazeera Airways shares dropped.
  • South African carrier Comair dropped after announcing a rights offer to raise funds.
  • African carriers, including Kenya Airways, experienced declines in share prices.
  • The Dubai Stock Exchange slumped by 4.6%.
  • The Centre for Asia Pacific Aviation has launched a new strategic business information service covering the Middle East and Africa aviation markets.

In other Middle Eastern news, Kuwait Airways (2%) shares rose while Jazeera Airways (-2.4%) dropped.

South African carrier Comair (-4%) dropped following its announcement yesterday about raising USD15.8 million through an underwritten renounceable rights offer of 69.2 million shares. 1time (-3.6%) also fell, following the Johannesburg Stock Exchange (-2.2%) lower.

African carriers continued to decline, with Kenya Airways (-0.9%) dropping after announcing plans to commence Nairobi-Juba service on 07-Jun-2010.

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Selected African and Middle Eastern airlines share price movements (% change): 25-May-2010

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