Kenya Airways' shares remained stable on Monday (16-Aug-2010). On the same day, the carrier announced plans to launch twice weekly Nairobi-Luanda service on 17-Aug-2010.
See related CAPA profile: Route changes
Middle East premium traffic up, Africa down in June
IATA released the following premium traffic growth highlights by region in Jun-2010:
- Total international: +16.6% year-on-year;
- Within Africa: -0.6%;
- Within Middle East: +7.1%.
IATA stated, “although air travel has slowed from the pace of the first quarter the outlook remains positive. Coincident indicators of business travel, such as world trade, are supporting the growth of premium travel. Exports and imports remain strong in most regions but the outlook is also for a slowdown to more normal trend growth of around 6%. Forward-looking indicators such as business confidence and financial market activity have been slipping in recent months, however they remain at historically high levels. This indicator would also suggest that premium travel growth rates are likely to slow towards 6%."
According to IATA, in Jun-2010, Middle East markets showed solid growth rates in premium passenger numbers. Economic conditions in this region are forecast to pick up in 2010, as GDP is expected to reach 4.3%, supported by high oil prices and supportive domestic policy conditions. Connecting traffic through the region is also expected to continue to expand at a strong pace. Meanwhile, African routes have been positively impacted in Jun-2010 by activities surrounding the FIFA world cup hosted by South Africa. The total number of passengers travelling from Europe to Africa rose by some 10.3%.
See related report: Premium traffic growth continues; expected to slow following rebound
Selected African and Middle Eastern airlines share price movements (% change): 16-Aug-2010