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Qatar Airways looking to take a third of Cargolux

Qatar Airways CEO Akbar Al Baker stated the carrier plans to acquire a 33% stake in Cargolux as a strategic investment, with an agreement expected within the next few weeks. Qatar Airways expects that the Cargolux agreement would strengthen the carrier's bottom line without drawing management resources away from its growth strategies. Mr Al Baker also stated the carrier would continue to look for other agreements in the future.

There were minimal market movements in Middle East and African markets on Monday, with Air Arabia down 0.3% and Royal Jordanian up 0.7%.

Royal Jordanian took delivery of a new A320 on 29-Apr-2011. With the addition, the carrier's fleet now comprises 32 aircraft.

Selected Middle East and African share price movements (% change): 02-May-2011