Air Arabia receives its Air Operator's Ceritificate for Egypt; Fly540 to sign tour agreement

Air Arabia received its Air Operator's Certificate (AOC) from the Egyptian Civil Aviation Authority, clearing the way for the imminent launch of Air Arabia Egypt, the carrier’s Alexandria-based joint venture company. Air Arabia Egypt’s operations will commence in Jun-2010 from Alexandria Burj Al Arab Airport. Air Arabia's shares fell 0.7% on Friday.

Other Middle Eastern carriers, Royal Jordanian Airlines (-4.5%) and Kuwait National Airways (-3.8%), dropped following a -0.94% decrease in the Amman Stock Exchange.

Lonrho’s (5.8%) Fly540 reportedly plans to sign a partnership agreement with Alice Tours to conduct tours to key tourist destinations at the North Rift.

Meanwhile, Comair (7.7%) and 1time (0.9%) rose even though the Johannesburg Stock Exchange fell by -0.3%.

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Selected African and Middle Eastern airlines share price movements (% change): 21-May-2010