13-Jul-2010 4:01 PM

AirArabia to receive two A320s at the end of 2010; African shares on the rise

AirArabia (+1.5%) Corporate Communications Manager, Housam Raydan, stated on Monday (12-Jul-2010) the carrier will receive two of 44 A320s – ordered in Nov-2007 from Airbus – "towards the end of this year". Mr Rayfan said: "After the first two to be delivered later this year, the remaining aircraft will also arrive in batches." The carrier operates a fleet of 25, a "mix of owned and leased aircraft".

See related CAPA profile: Aircraft leasing and finance

The carrier also launched four times weekly Alexandria-Abu Dhabi service on 12-Jul-2010. Abu Dhabi is the carrier's fifth destination from its Egyptian hub.

See related CAPA profile: Route Changes

Meanwhile, Kuwait National Airways and Jazeera were stable while the Kuwait Stock Exchange dropped -1%.

African shares increased marginally with Kenya Airways (+1.6%) and 1time (+1.9%) up while Lonrho and Comair stayed steady.

Selected African and Middle Eastern airlines share price movements (% change): 12-Jul-2010