Wataniya signs agreement with Sixt Car Rental; Comair to receive USD412m in funding

Wataniya Airways, subsidiary of Kuwait National Airways (0%), signed on Wednesday (18-Aug-2010) an agreement with Sixt Car Rental, giving Wataniya's Diwan members an average of 500 to 1000 miles for every car rental or limousine service used in various Middle East and European countries.

Middle East shares were relatively stable on Wednesday with Air Arabia (-0.3%) down slightly while Royal Jordanian and Jazeera remained steady.

Comair (0%) is currently in negotiations with Citi, Standard Chartered, Absa and Nedbank to receive USD412 million in funding for the purchase of eight new B737-800 aircraft expected to be delivered in 2012. The company raised ZAR125 million towards the acquisition cost of the new aircraft through a rights issue in Apr-2010.

African shares were on the rise with 1time (+0.7%), Kenya Airways (+1.1%) and Lonrho (+2.3%) shares gaining.

Selected African and Middle Eastern airlines share price movements (% change): 18-Aug-2010