The majority of African and Middle Eastern carriers’ shares were down on Friday (16-Apr-2010), with Comair (+2.3%) the only carrier to make gains, after finalising plans on Thursday to open its rights offer on 03-May-2010.
Kenya Airways (-0.8%) was also down. The carrier was reportedly losing approximately USD999,000 per day over the weekend after being forced to cancel flights to and from Europe (Amsterdam, London and Paris) due to the continued closure of European airspace, as volcanic ash continued to threaten the safety of airline operations. See related reports:
- Ash Attack round-up of global aviation responses: LATEST from airlines, airports, industry bodies
- Volcano fallout: Ash Attack hits airlines where it hurts most. USD2bn impact for aviation and rising
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Selected African and Middle Eastern airlines share price movements (% change): 16-Apr-2010