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Kuwait National Airways' shares fall heavily

Shares in Kuwait National Airways, parent of Kuwaiti carrier Wataniya Airways, dropped 8.2% in trading on Wednesday, against the upward trend on the Kuwaiti Stock Exchange. Late last week, the carrier launched a tourism initiative to encourage travel to Egypt following the revolution in Jan-2011. Shares in local rival, Jazeera Airways, were flat.

Kenya Airways shares fell 6%. The carrier reported overall capacity for 4Q2010 rose 5.4% year-on-year, with most additional capacity deployed on routes in Africa.

Selected MEAAD daily share price movements (% change): 09-Mar-2011