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Kulula fights back at 1time, Royal Jordanian and Air Arabia up, Comair down

Lonrho (-4.1%), 1time (-3.5%) and Comair (-1.3%) shares all dropped on Thursday (11-Feb-2010). South Africa’s FTSE/JSE Africa All Share Index (-0.1%) fell for a second consecutive day, pushed down by a fall in mining stocks, after the European Union declined to provide details of plans to assist Greece with its sovereign debt issues.

Also in South Africa, kulula.com challenged all South African airlines to lower their fares during the FIFA World Cup, following last month's announcement by the South African Competition Commission that it was investigating collusion among South African airlines on World Cup prices and pricing strategies. 1time recently submitted a complaint to the Competition Tribunal regarding kulula and Lanseria Airport’s exclusive agreement.

Elsewhere in Africa, Kenya Airways (+3.1%) made its largest gain since 19-Jan-2010, after IATA certified the safety of the carrier’s ground-handling operations.

In the Middle East, Royal Jordanian (+4.1%) made the biggest gain of the day, while Air Arabia was also up.

Jazeera and Kuwait National Airways were flat, as the Kuwait Stock Exchange Index (+0.1%) was virtually unchanged.

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Selected African and Middle Eastern airlines share price movements (% change): 11-Feb-2010