Air Arabia's shares gain, fleet grows to 21 A320s

Air Arabia's shares gained 1.6% yesterday to AED0.82. TradeArabia News Service reports the carrier took delivery of the third and fourth of 44 A320 aircraft ordered from Airbus on 06-Jan-2011 and 31-Jan-2011, respectively.

A total of six aircraft are expected to be delivered in 2011, with the remainder by 2016, doubling the carrier's fleet to over 50 aircraft. See related report: Air Arabia hampered by slow liberalisation

Selected African and Middle Eastern airlines’ share price movements: (% change): 07-Feb-2011