10-Mar-2011 4:59 PM
Kuwait National Airways' shares fall heavily
Analysis
Shares in Kuwait National Airways, parent of Kuwaiti carrier Wataniya Airways, dropped 8.2% in trading on Wednesday, against the upward trend on the Kuwaiti Stock Exchange. Late last week, the carrier launched a tourism initiative to encourage travel to Egypt following the revolution in Jan-2011. Shares in local rival, Jazeera Airways, were flat.
Summary
- Kuwait National Airways' shares dropped 8.2% following the launch of a tourism initiative by its subsidiary, Wataniya Airways.
- Jazeera Airways, a local rival of Kuwait National Airways, experienced no significant change in its share price.
- Kenya Airways' shares fell 6% after reporting a 5.4% increase in overall capacity for 4Q2010, primarily on African routes.
- The decline in share prices for both airlines occurred on 9th March 2011.
- The Kuwaiti Stock Exchange showed an upward trend on the same day.
- The article focuses on selected daily share price movements in the Middle East, Africa, and Asia (MEAAD) region.
Kenya Airways shares fell 6%. The carrier reported overall capacity for 4Q2010 rose 5.4% year-on-year, with most additional capacity deployed on routes in Africa.
Selected MEAAD daily share price movements (% change): 09-Mar-2011
