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Comair secures backing for B737s; Lonrho shares gain 4.4%

Comair (0%) confirmed it has secured the preliminary commitment of US government-backed financing for its new fleet of B737-800 aircraft. The credit guarantee, which will cover all eight aircraft, was secured via the US Ex-Im Bank. Erik Venter, Joint CEO of Comair stated the company’s ability to secure this financing was due mainly to its 65-year profit history.

See related CAPA profile: Fleets

Air Mauritius (-3.5%) shares dropped the most on Monday (15-Nov-2010) while Lonrho shares gained 4.4%. Meanwhile, Lonrho’s Fly540 announced its recent launch of daily services from Jomo Kenyatta International Airport to Ukunda is expected to boost the local tourism industry.

Selected African and Middle Eastern airlines share price movements: (% change): 15-Nov-2010