Comair only gainer of the day; 1time and Royal Jordanian down with markets
The majority of African and Middle Eastern carriers’ shares were down on Friday (16-Apr-2010), with Comair (+2.3%) the only carrier to make gains, after finalising plans on Thursday to open its rights offer on 03-May-2010.
Elsewhere in Africa, 1time Holdings (-2.6%) took the day’s biggest fall, as South Africa’s JSE (-1.7%) followed global markets lower.
Kenya Airways (-0.8%) was also down. The carrier was reportedly losing approximately USD999,000 per day over the weekend after being forced to cancel flights to and from Europe (Amsterdam, London and Paris) due to the continued closure of European airspace, as volcanic ash continued to threaten the safety of airline operations. See related reports:
- Ash Attack round-up of global aviation responses: LATEST from airlines, airports, industry bodies
- Volcano fallout: Ash Attack hits airlines where it hurts most. USD2bn impact for aviation and rising
In the Middle East, Royal Jordanian (-1.0%) fell with the Amman Stock Exchange (-0.3%). Jazeera Airways (-1.0%) was also down, while Air Arabia (-0.1%) was flat.
The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!
Selected African and Middle Eastern airlines share price movements (% change): 16-Apr-2010
Source: Centre for Asia Pacific Aviation & Reuters