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:

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.

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Selected African and Middle Eastern airlines share price movements (% change): 16-Apr-2010

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