FASTJET PLC - Take off on schedule

Thursday, Nov 22 2012 by
2

Fastjet (LON:FJET) aim is to eventually ferry 12 million passengers between cities in Africa using the low-cost blueprint patented in Europe – an undertaking that would require a 40 strong fleet, but which would create a US$1 billion turnover business. Africa's aviation industry is valued at an annual $56bn (£35.7bn) but is known for a poor safety record and unreliability. Fastjet aims to set a european standard for Africa and bring air travel into the budgets of every african.The company has licences to operate from hubs in Ghana, Kenya, Tanzania and Angola.

The driving force behind Fastjet is easyjet founder Sir Stelios Haji-Ioannou, who along with other former easyjet executives have spotted great potential in aviation,s last  " frontier territory ".

Website : http://www.fastjet.com/tz/corporate/board-of-directors

Fastjet will be run by an experienced aviation team led by Ed Winter, former Chief Operating Officer at easyJet and founding director of low-cost airline Go, Chief Commercial Officer Richard Bodin, former Contracts Director at easyJet and Business Director of low-cost airline Jet2.com, Operations Director Rob Bishton, former Chief Pilot & Head of Aircraft Operations at easyJet and General Manager of Africa Kyle Haywood, former Chief Executive of Air Uganda.

 

 

Latest News : 22nd November 2012

Fastjet has announced that, ahead of flight operations scheduled for next week, its first branded Airbus A319 has arrived at its base in Dar es Salaam, Tanzania.

Full approval to operate the aircraft has been granted to the African low-cost carrier by the Tanzanian Civil Aviation Authority. Two more fastjet-branded A319s are planned to be en route early next week, to be in Dar es Salaam in time for the airline’s first flight, scheduled for Thursday 29th November.

Fastjet’s team of 35 pilots, 65 cabin crew and seven maintenance specialists are already on the ground actively preparing for launch.In a little over a week since tickets went on sale, fastjet has already taken over 8,000 bookings on the first two routes; enough to fill over 60 A319s.

The fastjet.com web site received over 20,000 hits in its first four days and the mobile site is now live.Commenting on the significant progress, fastjet chairman David Lenigas said: “As expected, plans for fastjet’s official launch of operations are moving ahead right on schedule and we are delighted with the level of interest so far.“Demand for seats is high and we are in great shape to start flying next week. We are delighted to have such a solid foundation to build upon.”

Further to the Company’s announcement on July 24th 2012, fastjet has now formally entered into the £5 million Equity Financing Facility with Darwin Strategic, the majority owned subsidiary of Henderson Global Investors’ Alphagen Volantis fund.The EFF covers a three year period.

 

                                                             

 

 


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fastjet Plc, formerly Rubicon Diversified Investments PLC, is a United Kingdom-based holding company. The Company operates low-cost airline, fasatjet. It operates a fleet of three Airbus A319s in the key domestic routes within Tanzania and number of international destinations. fastjet operates in domestic routes and services from its Tanzanian base in Dar-es-Salaam to Lusaka, Harare and Entebbe. Through industry partnerships, the Company also offers a range of services including car rentals, hotels, and car parking in the African market. It offers traders from its international destinations to transport goods home by fastjet aircraft as opposed to road, and Smartclass through Freighty. fastjet allows passengers to book seats through Expedia, Skyscanner and a range of on-line travel agents and consolidators. more »

Share Price (AIM)
96p
Change
-0.5%
Mkt Cap (£m)
64.1
P/E (fwd)
23.8
Yield (fwd)
n/a

easyJet plc is a United Kingdom-based airline carrier with its operation primarily in Europe. The Company operates approximately 600 routes across 30 countries. The Company has a fleet of approximately 200 Airbus aircraft. The Company has operations in London Gatwick, London Luton, London Southend, Bristol, Edinburgh, Milan Malpensa, Naples, Venice, Nice, Basel and Geneva, London Stansted, Paris Orly, Paris Charles De Gaulle, Lisbon, Lyon, and Rome Fiumicino. It also offers flights and travel info through Flight Tracker; booking of accommodations, including hotels, apartments, resorts and villas, among others; booking of transport, including car rentals, taxis and shuttle services, and holiday bookings, which include beach holidays, city breaks and ski holidays. The Company offers airlines to Amsterdam, Barcelona, Berlin, Copenhagen, Hamberg and Mandrid, among others. more »

Share Price (Full)
1672p
Change
1.1%
Mkt Cap (£m)
6,570
P/E (fwd)
11.8
Yield (fwd)
3.6



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2 Posts on this Thread show/hide all

Marc Benjamin 27th Nov '12 1 of 2
1

RNS - Tuesday 27th November 2012

" Fastjet Launch and agreement with Swissport announced "

Full statement Here

http://tinyurl.com/cuqzd9h

.

 

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Marc Benjamin 2nd Dec '12 2 of 2

Latest :

FastJet began full commercial services on Tuesday from Dar es Salaam’s Julius Nyerere Airport in Tanzania and reported higher than expected passenger numbers, with its first aircraft flying passengers from Dar es Salaam to Mwanza, and Dar es Salaam to Kilimanjaro in Tanzania. Eight sectors were flown, carrying more than 900 paying passengers and achieving an average booked load factor of 78%. Three of the eight sectors flown exceeded a load factor of 90%.

Fastjet,s ceo Ed Winter commented that between 1,000 and 1,500 bookings had been taken daily since tickets went on sale two weeks ago and demand for tickets have been overwhelming.Speaking to flightglobal reporters on launch day Ed Winters revealed that the carrier has already applied for flying rights to Nairobi and Mombasa in Kenya, Entebbe in Uganda, Kigali in Rwanda, and Juba in South Sudan.He said Its second base will be established in Nairobi in the first quarter of 2013, while subsequent bases will be added next year in the west African capitals of Accra, Ghana and Luanda, Angola.

Fastjet says it hopes to "democratise" air travel through what amounts to the first concerted attempt to introduce European-style LCC models across Africa.The airline also confirmed this month that it is investigating an "earlier-than-expected opportunity" to enter the lucrative southern African marketplace.

The company have also recently signed agreements with Swissport International for ground handling and Sabena technics for line maintenance.

 

Official News Links :

http://www.fastjet.com/tz/corporate/investor-news

http://www.easy.com/fastjet.html

 

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