01-Feb-2011 3:58 PM
Air Arabia shares dive as Gulf markets remain nervous over Egypt
Analysis
Shares in Air Arabia fell 6.7% on Monday as markets in the Gulf remain nervous over the affect of the ongoing crisis in Egypt. The carrier launched a new hub in Alexandria late last year, operated through a JV with local Travco Group, the Middle East's largest travel and hospitality group. The Dubai stock exchange closed down 4.3% on Monday.
Summary
- Air Arabia's shares fell 6.7% due to concerns over the crisis in Egypt.
- The airline launched a new hub in Alexandria last year through a joint venture with Travco Group.
- The Dubai stock exchange closed down 4.3% on the same day.
- Other Gulf region listed carriers, such as Royal Jordanian and Kuwait National Airways, also experienced share falls.
- Jazeera Airways, however, had a positive day of trading, with shares up 1.7%.
- The article highlights selected African and Middle Eastern airlines' share price movements on January 31, 2011.
Other Gulf region listed carriers also saw share falls, with Royal Jordanian down 5.8% and Kuwait National Airways, parent of Wataniya Airways, down 2.9%. In contrast, Jazeera Airways had a positive day of trading, up 1.7%.
Selected African and Middle Eastern airlines' share price movements: (% change): 31-Jan-2011
