Air Arabia makes biggest gain since Dec-2009; Jazeera Airways and 1time soar; Lonrho flat
Also in the Middle East, Jazeera Airways (+4.6%) also made a strong gain, as the Kuwait Stock Exchange rose 0.1%, in anticipation of 1Q2010 financial results. Kuwait National Airways (+2.0%) was also up as a result, while Royal Jordanian (+0.5%) gained marginally.
Elsewhere in Africa, South African Airways (SAA) announced a review of its SAA Voyager, cargo, Air Chefs and SAA Technical units by the Department of Public Enterprises, under a proposal to seek strategic investment into them. Deputy Director General for Transport, Andrew Shaw, stated the carrier has achieved a slow turnaround to profitability in the past 18 months and “quite dramatically” in the quarter ended Mar-2010 to generate a small profit.
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Selected African and Middle Eastern airlines share price movements (% change): 22-Apr-2010