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Jazeera Airways shares down despite shareholder approval to fund Sahaab Aircraft Leasing acquisition

Analysis

Jazeera Airways' (-2.3%) shares were down on Thursday (13-May-2010) despite receiving shareholder approval to fund the acquisition of Sahaab Aircraft Leasing by raising the company's capital to USD144.8 million through a rights issue of 200 million shares. The acquisition will appear in Jazeera Airways' 2010 consolidated results and Sahaab will continue to operate as a subsidiary of Jazeera Airways.

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