Raven Fox

Raven Fox: "Alpha Airports Group makes further recovery and continues its search for a new chairman

At its annual general meeting today, troubled airport and retail services company Alpha Airports Group announced that first-half sales rose by 4% compared to the same period last year, despite the suspension of its shares in April.

The company reported that Alpha Airline Services sales were up by 3% due to growth in Jordan and Australia. The acquisition of food concessions in Romania and Bulgaria last year helped to offset a decline in sales following the loss of the ThomsonFly contract in 2005 and the suspension of the operator's shares on the London stock exchange earlier this year. Alpha's shares were suspended in April during an investigation by auditor PriceWaterhouseCoopers into the company's dealings with Excel Airways.

In a statement, the company warned that 'we do expect some weakness in our Sri Lanka retail business due to local security concerns'.

The company also said that the recruitment process for a new chairman and finance director, following the resignation of Heather McRae earlier this year, was 'well underway'."