Loading

Lonhro rebounds; 1time and Air Arabia up; Kuwair National Airways stumbles

The majority of listed African carriers’ shares were up on Monday (08-Feb-2010), as Middle East carriers, expect for Air Arabia (+1.1%) saw shares drop or remain stable.

Lonhro (+4.2%) reported the biggest rise for the day, rebounding from a drop the day prior. 1time Holdings (+1.8%) was also up, as South Africa’s FTSE/JSE Africa All Share Index rose 1.0%, ending a two-day slump in the market. Kenya Airways (+0.0%) was flat, despite Kenya’s All-Share Index (+0.1%) rising for a second consecutive day.

In the Middle East, Kuwait National Airways (-1.7%) was down, taking away some of the gains it made the day prior. Kuwait’s Stock Exchange Index (+0.7%) rose, after the central bank reduced interest rates by 0.5%, to promote economic growth.

Elsewhere, Jazeera Airways and Royal Jordanian were both flat, while Air Arabia (1.1%) advanced.

The Centre for Asia Pacific Aviation (CAPA) has launched a unique new strategic business information service covering one of the world’s most exciting emerging aviation markets. Middle East-Africa Airline Daily is an efficient morning briefing on airline developments from both regions. Covering fleets, routes, financials, traffic, bilateral agreements, alliances, financing, ownership, along with analysis of all significant developments, it is your one-stop shop to aviation news from Africa and the Middle East – and best of all it’s free for a limited time. Sign-up today!

Selected African and Middle Eastern airlines share price movements (% change): 08-Feb-2010