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Air Arabia sees double-digit traffic growth over mid-term

Air Arabia stated its passenger traffic is expected to rise by up to 15% p/a over the next four years, according to a Reuters report. The airline plans to add eight more routes by the end of 2011, for a total of 75.

The Sharjah-based LCC, which has bases in Morocco and Egypt, plans to launch its new Jordanian venture in Jun-2011.

Air Arabia shares rose 1.7% yesterday.

Selected African and Middle Eastern airlines’ share price movements: (% change): 24-Jan-2011

MEAAD