23-Feb-2011 3:37 PM
Jazeera Airways reports strong second half result. MENA stocks generally lower.
Analysis
Jazeera Airways announced its 2H2010 net profit was the carrier's best second half result since 2008, with the return to profitability partly due to staff reductions and other cost cutting measures. Chairman Marwan Boodai added that the carrier is "optimistic" about 2011 and expects profits in the full year. Jazeera Airways' shares were flat, although most Middle East and African listed carriers stocks declined.
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