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Air Arabia's Egyptian unit disposes of $3.3mn of equity

Posted 23 October 2017 · Add Comment

Air Arabia disposed of 590,000 shares to an unspecified party/parties a filing with the Egyptian Stock Exchange (ESX) on October 11, reports ch-aviation.

The transaction was valued at EGP59 million Egyptian pounds (USD3.347 million).

Parent firm Air Arabia did not respond to a request for comment.

It is recalled that in November last year, Travco Group, one of Egypt's largest travel and hospitality groups, disposed of its 51% stake in Air Arabia Egypt as part of a larger bid to divest itself of non-core assets.

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