Kenya Airways to acquire two E190 aircraft; 1time moves to the JSE’s main board
Kenya Airways (-0.5%) announced plans to acquire two additional E190 aircraft for regional operations by the end of 2010.
- Kenya Airways plans to acquire two additional E190 aircraft to meet growing passenger and cargo demand and expand its route network.
- The aircraft will be leased from Jetscape, an Embraer aircraft leasing company.
- South African airline 1Time has moved from the Altx index to the main board of the Johannesburg Stock Exchange, aiming to attract institutional investors.
- 1Time CEO, Glenn Orsmond, is confident in the airline's performance despite warnings of a possible double-dip recession.
- Air Arabia's shares have decreased, while Kuwait National Airways' shares remain steady.
- Royal Jordanian and Jazeera Airways' shares have seen an increase.
The carrier stated the additional capacity is required to meet "growing passenger and cargo demand and a rapidly expanding route network". The aircraft will be leased from Jetscape, an Embraer aircraft leasing company.
See related CAPA profile: Aircraft leasing and finance
Meanwhile, 1Time (+1.9%) moved from the Altx index to the main board of the Johannesburg Stock Exchange on 05-Jul-2010, with the company stating it hopes to attract institutional investors as a result. CEO, Glenn Orsmond, stated the company is not deterred by warnings of a possible double-dip recession, stating the LCC has done well in the recessionary conditions.
Middle Eastern shares were across the board with Air Arabia (-0.5%) down, Kuwait National Airways remaining steady while Royal Jordanian (+0.6%) and Jazeera (+1.9%) shares were on the rise.
Selected African and Middle Eastern airlines share price movements (% change): 05-Jul-2010
Source: Centre for Asia Pacific Aviation & Reuters