Jazeera Airways Board approves rights issue; Lonrho rises, 1time slips
Jazeera Airways was flat at the end of trading on Friday (09-Apr-2010), due to a decline in major indicators and a majority of sectors on the Kuwait Stock Exchange. During trading, Jazeera’s Board of Directors approved plans to launch a rights issue to raise the carrier’s capital by 91%, to KWD42 million (USD146 million). The carrier plans to issue 200 million new shares worth KWD 150 fils each, including a premium of KWD 50 fils, subject to shareholders’ approval.
In Africa, LCCs 1time Holdings (-0.9%) and Comair (-0.4%) both slipped, despite a 1.1% rise in South Africa’s JSE index. Kenya Airways was flat. Lonrho (+6.1%) was the only gainer of the day, continuing its rise from the day prior.
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Selected African and Middle Eastern airlines share price movements (% change): 09-Apr-2010