Air Transport World

Air Arabia.(AFRICA/MIDDLE EAST Report)(initial public offering)(Brief article)

Air Arabia's AED2.57 billion ($698.9 million) IPO was scheduled to launch at press time as 2.57 billion shares, equal to 55% of its share capital, were put up for sale.

The Sharjah-based airline, which reported a more than threefold growth in 2006 net profit to AED101 million, is the first carrier from the Arab Middle East to go public. …

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