Air Arabia selects CFM56-5B engines for A320s

Air Arabia (+0.6%) announced on Wednesday (21-Jul-2010) the selection of the CFM56-5B engine to power its 44 A320 family aircraft order announced in 2007. This new engine selection, which will more than double the airline's CFM56-5B powered A320 fleet, is valued at more than USD620 million at list prices.

Together with the engine selection, Air Arabia also signed a multi-year Rate per Flight Hour (RPFH) service agreement for its CFM56-5B fleet.

See related CAPA profile: Farnborough 2010 Air Show News

Kuwait National Airways' shares remained stable, while Royal Jordanian (-0.6%) dropped and Jazeera (+1.8%) rose slightly.

Comair announced (21-Jul-2010) Rajesh Ramanlal Mehta has resigned as a non-executive director from the Board of Comair Ltd, effective 31-Jul-2010. Its shares were flat.

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