Kuwaiti low-cost carrier Jazeera Airways plans to list shares on the Kuwait stock exchange in November, state news agency KUNA quoted the airline’s chief executive as saying yesterday.
The airline would consider listings on other Gulf Arab bourses, particularly Dubai, Marwan Boodai said, according to KUNA.
Jazeera shareholders approved in September last year a plan to double airline’s capital to 20 million dinars ($71.2 million) by selling stock to existing shareholders.
The airline had initially intended to list its shares in the second quarter. Kuna gave no reason for the delay.
Kuwait’s index is the Gulf Arab region’s best performer this year, up more than 27 percent.
Jazeera, which made $8.7 million profit in its first year of operations in 2006, would be the second Middle Eastern airline to list shares after Sharjah-based Air Arabia, which debuted on Dubai’s benchmark in July.
Air Arabia, the Middle East’s largest low-cost carrier, raised 2.57 billion dirhams ($699.9 million) in a share sale in March.
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