Air Arabia takes delivery of A320; Royal Jordanian reports 14.6% operating revenue
Air Arabia (+0.5%) has taken delivery of the first of 44 A320s on order in Hamburg. Air Arabia, which has purchased the aircraft directly from Airbus, placed 34 of the orders in 2007 and 10 in 2008, making the LCC one of the region’s largest A320 operators. Air Arabia already operates a fleet of 23 leased A320s.
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Royal Jordanian (-4.5%) shares lost ground on Monday (25-Oct-2010). On the same day the carrier reported the following preliminary financial highlights for the nine months ended 30-Sep-2010:
- Operating revenue*: USD727.6 million, +14.6% year-on-year;
- Operating costs: USD634.5 million, +19.5%;
- Fuel: USD212.9 million, +37.3%;
- Profit: USD27.6 million, -23.1%;
- Passenger numbers: 2.3 million, +15%;
- Seat factor: 71%, +4 ppts;
- Cargo volume: 44,000 tons, +33.3%.
- *Based on the conversion rate at JOD1 = USD1.41002
Royal Jordanian Chairman Nasser Lozi stated he is confident the carrier will end the year with “satisfying results,” adding the carrier is in “constant search of new means of boosting revenues”.
Jazeera Airways (0%) announced it exceeded the 1 million passenger mark for 2010 by Sep-2010 bringing the total number of flown passengers since its establishment in 2005 to 6.5 million, or two times the total population of Kuwait. Jazeera Airways celebrates its fifth anniversary on 30-Oct-2010.
Selected African and Middle Eastern airlines share price movements (% change) 25-Oct-2010