Comair planning to issue up to 69 million new shares
Comair (-10.5%) shares suffered their biggest daily drop in two months, after the carrier reportedly stated it plans to issue up to 69 million new shares at ZAR1.80 each, as part of plans to raise ZAR124.5 million to fund Boeing aircraft orders.
Elsewhere in Africa, Lonrho was flat, while Kenya Airways (+4.2%) ended trading up.
In the Middle East, Air Arabia (-1.0%) was down, as was Jazeera Airways (-0.9%), despite a flat Kuwait Stock Exchange. Kuwait National Airways was flat. Royal Jordanian Airlines (+0.5%) ended trading up slightly, moving with the Amman Stock Exchange (+0.4%).
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Selected African and Middle Eastern airlines share price movements (% change): 10-Mar-2010