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Jetscape delivers E190-100IGW aircraft to Kenya Airways; Middle East shares up

Jetscape announced the acquisition of a new Embraer E190-100IGW aircraft and delivered it on lease to Kenya Airways (+0.6%). Its second E190 aircraft will be delivered in May-2011. Both aircraft will be leased for an eight-year term. These E190 aircraft will join Kenya Airway’s Embraer fleet of five E170s.

Meanwhile, Kenya’s shilling depreciated approximately 0.9% to 81.17 per dollar and traded 0.1% down at 80.49 per dollar at 13:29 in Nairobi, compared with a close of 80.45 on 20-Dec-2010. The depreciation is said to be caused by the adverse weather in Europe curbing tourism arrivals to the nation. Tourism accounts for 11% of GDP in Kenya.

Middle East shares were mostly on the rise on Tuesday (21-Dec-2010) with Air Arabia (+0.8%) and Jazeera Airways (+1.6%) up while Royal Jordanian shares dropped 1.3%.

Selected African and Middle Eastern airlines share price movements: (% change): 21-Dec-2010