11-Feb-2010 5:40 PM

Jazeera Airways flat; Royal Jordanian up; Kenya Airways and Lonrho down

Jazeera Airways' shares were flat again on Wednesday (10-Feb-2010) after the airline announced it has merged its three existing Economy fare classes, which the airline claims makes fare classes much easier to understand, as well as offering much better value. Fares displayed online will now be Jazeera's lowest fares of the day, inclusive of all taxes and surcharges.

Also in the Middle East, Kuwait National Airways (+3.6%) gained. Subsidiary, Wataniya Airways, celebrated its first anniversary on 10-Feb-2010. Air Arabia (+1.1%) and Royal Jordanian Airlines (+2.7%) were also up at the end of trading.

Closer UAE-India ties

During trading, UAE and India announced plans to reinforce bilateral relations between the two nations, in particular trade exchange and increasing mutual investment projects. UAE Minister of Foreign Trade, HE Sheikha Lubna Bint Khalid Al-Qasimi, also met with Indian Minister for Civil Aviation, Praful Patel, to discuss improvements to bilateral commercial aviation and the possibility of expediting the approval of applications submitted by some UAE airlines to commence services to India.

In Africa, Lonrho (-3.9%) was down, while Kenya Airways (-3.5%) also dropped, as Kenya’s All-Share Index (0.1%) eased.

Comair (+6.1%) meanwhile rebounded from losses the day prior, going against South Africa’s FTSE/JSE Africa All Share Index (-0.4%), which made its first fall in three days. 1time Holding was flat.

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Selected African and Middle Eastern airlines share price movements (% change): 10-Feb-2010