Tunisian charter airline plans to go public

Published March 18th, 2001 - 02:00 GMT

Nouvelair, a charter airline servicing routes between Tunisia and Western Europe, has announced its intention to list on the Tunisian stock exchange some time during 2002. 


Ahead of the share flotation, Tuninvest, a local investment fund, took an 11 percent stake. Nouvelair. The Monastir-based charter carrier belongs to the Tunisian Travel Service (TTS) group, and is managed by the Tunisian tourism magnate Aziz Miled. 


Doing more than two thirds of its business during the summer months, Nouvelair flies in tourists to Tunisian holiday resorts from France, Germany, the Scandinavian countries, Italy and the United Kingdom.  


The company’s decision to go public appears to be related to its ambitious growth plans. These include the building of new hangers, and the purchase of larger Airbus carriers to replace its aging fleet of McDonnell Douglas MD-80. In December 1999 it took delivery of first Airbus A320, and the second was delivered in spring 2000. — (Albawaba-MEBG)

© 2001 Mena Report (www.menareport.com)

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