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Kenya Airways to launch cargo business

Kenya Airways confirmed that it plans to acquire a dedicated freighter aircraft, to be put into service by next financial year. Group Managing Director and CEO Titus Naikuni announced that the carrier plans to operate cargo operations across Africa.

Kenya Airways reported an 8.9% rise in passenger volume in the 4Q2010. The carrier operates to 46 scheduled destinations throughout Africa, Europe, the Indian subcontinent and Asia.

Shares in Kenya Airways eased 0.6% on Friday. 1Time Holdings, owner of South African LCC 1Time, rose 5.6%.

Selected MEAAD daily share price movements (% change): 04-Mar-2011