National Bank of Umm al-Qaiwain surge 10% on third quarter results

18 October 2010

The ADX General Index closed 0.56% higher at 2,778.15. National Bank of Umm al-Qaiwain, jumped 10% to close at Dhs2.53 after reporting a net profit for the third quarter of Dhs99.68m, down from Dhs108.26m in Q3 2009. Waha Capital ended flat at Dhs0.78. Waha announced today the delivery of four Bombardier CRJ900 aircraft to SkyWest Leasing Inc., a subsidiary of SkyWest Inc. the largest US regional airline on long-term operating leases. The aircraft will be used by one of SkyWest's affiliates. Waha Leasing manages or has a financing interest in over 100 commercial aircraft operating in four continents worth Dhs16bn ($4.32bn). Apart from SkyWest Inc., its clients include Emirates Airlines, Singapore Airlines, Aeroflot, Qatar Airways, Air Canada and Malaysia Airlines.

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