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Kenya Airways to acquire two E190 aircraft; 1time moves to the JSE’s main board

Kenya Airways (-0.5%) announced plans to acquire two additional E190 aircraft for regional operations by the end of 2010.

The carrier stated the additional capacity is required to meet "growing passenger and cargo demand and a rapidly expanding route network". The aircraft will be leased from Jetscape, an Embraer aircraft leasing company.

See related CAPA profile: Aircraft leasing and finance

Meanwhile, 1Time (+1.9%) moved from the Altx index to the main board of the Johannesburg Stock Exchange on 05-Jul-2010, with the company stating it hopes to attract institutional investors as a result. CEO, Glenn Orsmond, stated the company is not deterred by warnings of a possible double-dip recession, stating the LCC has done well in the recessionary conditions.

Middle Eastern shares were across the board with Air Arabia (-0.5%) down, Kuwait National Airways remaining steady while Royal Jordanian (+0.6%) and Jazeera (+1.9%) shares were on the rise.

Selected African and Middle Eastern airlines share price movements (% change): 05-Jul-2010