Egypt-based Travco Group International announced that it has sold its 50% stake in Air Arabia Egypt, a joint venture that was established between UAE's Air Arabia (AIRA.DU) and Travco Group. According to Travco's chairperson, the group wants to solely focus on its core competencies in the hospitality, real estate, and tourism industries. (Daily News Egypt) Air Arabia (DU): AED1.26 as of 10 Nov 2016, Rating: Buy, FV: AED2.10 per share, MCap: USD1,602mn, AIRARABI UH / AIRA.DU
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