With ambitious plans to create Africa’s first pan-continental airline, fastjet will bring
international standards of safety, quality, security and reliability.

Low-cost is quite simply the avoidance of costly frills, offering customers the lowest possible
fares in addition to pay-as-you travel extras. This affords passengers the flexibility to pay for
additional services such as a bag or refreshment rather than having to pay for it regardless
whether you want it or not.

Importantly fastjet low-cost definitely does not mean low quality. Despite the many challenges
that exist outside our control we will be open, honest, transparent and communicative to
ensure that your travel arrangements remain with the least amount of interruption.

------------------------------------------------------------------

Sir Stelios Haji-Ioannou, the founder of EasyJet, is set to launch a low-cost airline in Africa this year after taking a 5% stake in a new venture FASTJET PLC.

The easyGroup tycoon, who is embroiled in a long-running boardroom battle with easyJet, is backing a carrier that will operate under his Fastjet airline and be run by former easyJet executives.

Fastjet will operate from Kenya, Tanzania, Ghana and Angola. The ambition is to carry more than 12 million passengers a year, from the 500,000 at present, by cashing in on demand for regional travel from a burgeoning African middle-class.

Haji-Ioannou said the move would help bring low-cost air travel to more Africans. "This is another small but significant step in bringing the dream of low-cost air travel to millions of people in Africa – the aviation industry's last frontier. Past experience shows that by halving fares, a successful low-cost carrier can encourage those people, who have never previously travelled by air, to fly."

22 November 2012





fastjet Plc

("fastjet" or the "Company")



Operational update



fastjet, the first pan African low-cost carrier, today announces that ahead of flight operations scheduled for next week, the airline's first branded Airbus A319 has arrived at its base in Dar es Salaam, Tanzania. Full approval to operate the aircraft has been granted to fastjet by the Tanzanian Civil Aviation Authority (TCAA).



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 7 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 4 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 24th July 2012, fastjet has now formally entered into the £5 million Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), the majority owned subsidiary of Henderson Global Investors' Alphagen Volantis fund.



The EFF covers a three year period. The subscription price of any draw down on the EFF will be at a 5% discount to an agreed reference price determined during 15 trading days immediately following the delivery of a draw down notice. Any exercise of the draw down shall have a volume commitment of a minimum of four times the average daily volume traded in fastjet shares during the 15 days prior to activation, subject to certain restrictions.



As part of the EFF the Company has issued a warrant instrument for Darwin to subscribe for up to 2,000,000 ordinary shares, such warrants exercisable over a three year period at a subscription price of 5.3p per ordinary share.

darshini,it is good to see another investor here,have high hopes for this company

Since 2009, Lonrho has developed its regional African scheduled aviation division, Fly540, into a significant airline carrying 50,000 passengers a month and serving the East, West and South-West of Africa from hubs in Kenya, Ghana and Angola respectively, the foremost private sector route network in Africa.
Having completed the crucial establishment phase of the airline’s development, the Lonrho Board believed that it was essential, for the further development of the airline, to bring world class aviation expertise into the business and establish the aviation division in its own separate corporate structure. As a consequence, on 29 June 2012, FastJet Plc completed its acquisition of the aviation division.
As stated at the time of completion of the transaction, Lonrho has now completed its investment in the aviation sector. Lonrho’s current holding in FastJet is 67.4% and it is no longer involved in the day-to-day management of the business, as FastJet implements its own self-funded strategy for its development. FastJet is consolidated as a jointly controlled entity in Lonrho’s Group accounts.


http://www.fastjet.com/tz/

HB Markets:

Friday 23rd November 2012

Fastjet (FJET.L, 3.52p) - Speculative Buy

Yesterday, Fastjet confirmed the arrival of its first branded Airbus A319 at its base in Dar es Salaam, Tanzania. The company is scheduled to commence flight operations from 29th November. Fastjet has been granted full approval by the Tanzanian Civil Aviation Authority (TCAA) to operate the aircraft. Two more Fastjet branded A319s are expected to be in Dar es Salaam by next week. The airline has a team comprising 35 pilots, 65 cabin crew members and seven maintenance specialists who are on the ground preparing for launch. Since 14th November 2012, when tickets first went on sale, Fastjet has already taken more than 8,000 bookings on its first two routes. The company has also formally entered into a £5m equity financing facility with Darwin Strategic Limited, a subsidiary of Henderson Global Investors' Alphagen Volantis Fund.

Our view: Fastjet's official launch of operations scheduled for 29th November 2012 is on track and the company has received very encouraging levels of interest so far. As Africa's first low-cost carrier, the company would begin operations to Mwanza and Kilimanjaro from Dar es Salaam twice a day at a fare of US$20 excluding taxes and other charges. Once regional services are established, Fastjet plans to roll out operations across Kenya and Uganda within weeks, and ultimately grow into a pan-African low-cost airline. The rapid economic growth in Africa has resulted in increasing wealth of African citizens, who are expected to fly for the first time, thus generating solid demand. Fastjet's business model is being developed with help from highly successful EasyJet founder Sir Stelios Haji-Ioannou, who is both a shareholder and director at the company. Notoriously predominant bureaucracy in the aviation industry and infrastructure limitations across airports poses a challenge to the airline. However, we are optimistic that the company would be able to leverage the first mover advantage in the low cost aviation segment and harness the strong growth potential in aviation sector. We maintain a Speculative Buy rating on the stock.

smartvestor,good find on the HB markets coverage :->

darshini i also found this that is worth a look


Fastjet in final countdown to launch

Author - Rob Gill - 22 Nov 2012

New African no-frills airline Fastjet has taken more than 8,000 bookings in its first week on sale.

The airline, which is being backed by Easyjet founder Sir Stelios Haji-Ioannou, is due to launch its first flight next Thursday (November 29) from the Tanzanian capital of Dar es Salaam.

Fastjet said its first branded Airbus A319 has already arrived in Dar es Salaam and the company has also received operating approval from Tanzania’s aviation authority.

Chairman David Lenigas said: “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."

Fastjet will start services by operating domestic routes in Tanzania from Dar es Salaam to Kilimanjaro and Mwanza.

The company then intends to expand rapidly across Africa by setting up a second base in Nairobi, Kenya, followed by more operations in Ghana and Angola in its goal to become the continent’s first pan-African no-frills carrier.

Fastjet said its new website had received 20,000 hits in its first four days and it had also launched a mobile site.

http://buyingbusinesstravel.com/news/2220048-fastjet-final-countdown-launch

thanks smartvestor,so the first airbus has arrived with two more coming next week,
and 15 due to be in service during next 10 months.I wonder if Stelios will be making
a fanfare in the media next week on launch day !

Yes they have said that 15 airbus will be in service in that period,so the newsflow
here should be regular as more planes enter service and passenger numbers grow.

Oh and yes i think they will get lots of media attention next week and the chief exec,s
comments on twitter are rather positive too.

David Lenigas on Twitter

"My other focus FastJet Plc launches in Africa next week. A big day for Africa and this company can change Africa GDP. Rapid Growth. "

thanks smartvestor a very interesting take on things

I could well be tempted on this one just for stelios track record alone,was taking a
look through the various snippets and think their "first mover advantage" is what
will ensure success and provide a large market share for them.

jackson55,you are right their first mover advantage will count for alot here .



Jackson55 - 24 Nov 2012 13:37 - 12 of 12

I could well be tempted on this one just for stelios track record alone,was taking a
look through the various snippets and think their "first mover advantage" is what
will ensure success and provide a large market share for them.

Fastjet mentioned on Travel Mole today.


"Sir Stelios' new budget African airline FastJet is set for its launch this week.

The pan African low-cost carrier has taken delivery of its first branded Airbus A319 at its base in Dar es Salaam, Tanzania.

Two more are expected to arrive in the next few days ready for the inaugural flight on Thursday.

A team of 35 pilots, 65 cabin crew and seven maintenance specialists are now on the ground preparing for launch.

The airline said its website had received over 20,000 hits in its first four days.

It will start by operating domestic routes in Tanzania from Dar es Salaam to Kilimanjaro and Mwanza.

Later on, it plans to open a second base in Nairobi, then in Ghana and Angola.

Sunday, November 25, 2012

http://www.travelmole.com/news_feature.php?news_id=2004092&c=setreg&region=2

smartvestor,fastjet were also covered by leading travel writer simon calder


Simon Calder: Could Africa’s skies at last be wide open?

Friday 23 November 2012

From the plains of the Masai Mara, the slopes of the Atlas Mountains or the banks of the Nile, the skies of Africa can seem the widest on the planet. But they are notably empty of aircraft. In the course of a year, a typical group of 50 Africans will, between them, take only one flight; their British counterparts will take 100.

This week, however, the people of Africa may finally get what they need and deserve: a proper intra-continental low-cost airline that opens up the skies. Agreed, clean water, adequate nutrition and eradication of malaria may be higher up the agenda of the average citizen. But cheap, safe flying may help to realise the potential of a continent shattered by colonialism and corruption.

“Very rarely is there a road between big cities, and virtually never a railway, so aviation has to be the way they move around,” says Ed Winter, chief executive of Fastjet. This new budget airline, backed by easyJet’s founder, Stelios Haji-Ioannou, is due to take off on Tuesday. Its first base is Julius Nyerere airport outside Tanzania’s biggest city, Dar-es-Salaam. Fastjet plans a modest start. The first flight, at 6am to the Tanzanian city of Mwanza, is still available at the equivalent of £17. Another domestic link, to Kilimanjaro, begins the same day.

From the perspective of the average African, it must look like a mere drop of free-skies thinking in the ocean of moribund self-interest that has characterised aviation on this continent for decades. But 17 years ago this month, easyJet launched no-frills flights in Britain with a pair of links from Luton to Glasgow and Edinburgh. Affordable flying caught hold in Europe: easyJet now flies more passengers than BA, and indeed exceeds all the African airlines combined.

More....

http://www.independent.co.uk/travel/news-and-advice/simon-calder-could-africas-skies-at-last-be-wide-open-8344591.html

hi darshini,looks like fastjet is starting to be picked up by mainstream media now and also noticed an article in the Telegraph today.


Fastjet set for take-off in Africa - November 26th 2012

By Jolyon Attwooll

The inaugural flight of fastjet, the new African low-cost airline backed by the easyJet founder Sir Stelios Haji-Ioannou, is set to take off later this week. Flight FN0161 from Dar es Salaam to Mwanza in north-western Tanzania will depart at 6am local time on Thursday November 30, marking a new era in air travel in Africa. Later that day, another flight will take off from Tanzania’s largest city to Kilimanjaro International Airport on the country’s northern border. The neighbouring Kilimanjaro National Park is a major draw for tourists. The airline will have a limited flight network to begin with, flying to only those two destinations, both within Tanzania. Mwanza lies on the border of Lake Victoria, within easy striking distance of the Serengeti National Park. Its fleet will initially consist of three Airbus A319s, all based in Dar es Salaam, while the airline’s team will include 35 pilots, 65 cabin crew as well as seven maintenance specialist. However, the company describes its expansion plans as “ambitious”, saying they wish “to create Africa’s first pan-continental airline”. Possible future bases include the Kenyan capital Nairobi, as well as Ghana and Angola. One-way prices to both Mwanza and Kilimanjaro start from 32,000 Tanzanian shilling (£12.50), not including government taxes.Sir Stelios started easyJet in 1995 at the age of 28, and is still the largest single share-holder of the airline, although he has taken a step back from its day-to-day running.

27 November 2012

fastjet Airbus unveiled as Tanzanian government welcomes Africa's first Low-Cost Airline; Africa-handling partnership with Swissport agreed

fastjet, Africa's first low-cost airline, has today unveiled its first fully branded aircraft ahead of commencing flight operations in Tanzania in two days' time. At an industry event in Dar es Salaam, government officials, fastjet executives and aviation experts watched the Fastjet Airbus A319 take to the skies for the first time.

From Thursday, 29th November, fastjet will operate twice daily flights on its first two routes, Dar es Salaam to Kilimanjaro and Dar es Salaam to Mwanza, both popular domestic destinations. Tickets went on sale two weeks ago and fastjet has recorded strong demand; outstripping its initial expectations. Average fares are expected to be $80 but now start from as low as US$20 one-way (excluding taxes and charges) for customers who book early. Representing the Tanzanian Ministry of Transport, Deputy Minister Mr Charles Tizeba was also present at today's launch and welcomed fastjet's entry to Tanzania; demonstrating the government's support for the new airline.

Speaking today in Dar es Salaam, fastjet Chief Executive Ed Winter said:

"Today is an incredibly exciting day not just for fastjet, but for Tanzania and Africa as a whole. For years, the African aviation-market has been significantly underserved, lagging a very long way behind the rest of the world. GDP growth is fuelling a real increase in disposable incomes and consumer spending and although this is accompanied with a growing demand for travel, the African people just haven't had a reliable and affordable air travel option available to them. fastjet will now serve to fill that gap and we look forward to bringing the people of Tanzania and indeed the whole continent the first pan African low cost, point-to-point, all jet airline, operating to international standards of safety and quality."

fastjet is committed to becoming a large scale local employer and will recruit and train people on the ground. It has already hired over 70 local people in Tanzania in a variety of roles including cabin crew and sales staff and recruitment is expected to continue as the airline takes delivery of more aircraft.

Commenting on today's launch, John Leahy, Airbus Chief Operating Officers: Customers, said:

"fastjet's decision to base its fleet on A319s is testament to the aircraft's efficiency, reliability and suitability for the low-cost operations in Sub-Sahara Africa. With the market-leading modern Airbus single-aisle aircraft, fastjet will be introducing new levels of comfort and affordability to an African market which is set to double over the next 20 years."

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.

Fastjet operates under a brand licence agreement with easyGroup Holdings Limited and Sir Stelios Haji-Ioannou, founder of a leading low cost airline, easyJet. Commenting on the launch, easyGroup Holdings Chairman Sir Stelios said:

"Now it's Africa's turn! I am delighted to have played a small part in starting yet another revolution. I wish everyone involved happy landings!"

The airline anticipates that passenger numbers, which under the Fly540 brand currently stand at 750,000 per year could significantly increase following launch, as fastjet plans to operate a fleet of up to 15 A319s over the coming year.

fastjet's first base is in Dar es Salaam and its second base in Nairobi is planned to open in spring 2013. Once established in East Africa, the airline has plans to launch in Accra in Ghana and Luanda in Angola.

fastjet is also delighted to announce today that it has signed an agreement with Swissport International, the world's leading provider of ground services to the aviation sector, under which it will provide ground services throughout the airline's network.

Through an exclusive partnership agreement Swissport will supply a variety of airport services, be responsible for service delivery and support supply chain growth throughout the fastjet network.

Juan Jose Andres Alvez, Swissport's Executive Vice President of Ground Handling for Europe, Middle East, Asia and Africa, commented: "Swissport has a huge amount of experience in LCC handling in Europe and we look forward to assisting fastjet in building up this model in Africa, supported by our knowledge and processes. This partnership includes all of the logistics challenges involved in setting up a network of ground handling operations and management systems, representing a new type of relationship between service provider and airline and offering a great opportunity for Swissport to continue to build its network in Africa in partnership with fastjet."

fastjet Chief Executive Officer Ed Winter commented:

"Swissport has a world-leading reputation and track record for providing high quality ground services to airlines around the world. fastjet is creating a pan-continental African airline offering international standards of safety, quality, security and reliability and it is therefore essential for us to have a handling partner that gives these qualities top priority and one that also matches our ambitious growth plans for Africa."

Telegraph article on fastjet today


http://www.telegraph.co.uk/news/worldnews/africaandindianocean/9705364/Fastjet-launches-in-Africa.html

Fastjet, the first low-cost airline for Africa, backed by easyJet founder Stelios Haji-Ioannou, has launched with its British management team promising to "give people used to 12 hour bus rides the option to fly". Air travel in Africa is among the most expensive in the world, with some 45 minute flights costing more than £300. Fastjet offers base fares from £13 before taxes, cheaper than taking long-distance buses, and begins its first commercial flights from its hub in Tanzania's commercial capital, Dar es Salaam, on Thursday.

Its British bosses, former senior managers of airlines including easyJet, Go, FlyBe and Ryanair, intend to open new hubs in Kenya next and later in Ghana and Angola.

"There is no typical fastjet passenger," said Ed Winter, its chief executive and formerly chief operating officer at both Go and easyJet. "There will be everyone from people who have never flown before, to traders finding new markets, to government ministers. The idea is to give people who used to spend 12 hours on a bus to visit their relatives the option to fly for the first time."

Fastjet's first aircraft, a 156-seat Airbus A319 that was until six weeks ago in service with easyJet, took its inaugural public flight from Dar es Salaam on Tuesday, a 40-minute round trip over the Indian Ocean above Zanzibar.

Regular African passengers used to ample space in the continent's flag-carrying airlines are likely to be surprised at both the limited leg room and the charges for drinks, snacks and checked-in bags.

Apart from two domestic no frills outfits in South Africa, all other airlines in Sub-Saharan Africa operate full service flights.

"It is going to take a week or two to get this new model fully understood, few passengers in Africa have had exposure to the way low cost carriers operate," said Kyle Haywood, fastjet's general manager, who earlier helped launch the Gulf's first no frills airline, Air Arabia.

Fastjet plans to expand its fleet, all Airbus A319s, to 15 aircraft within 12 months. Its initial route focus will be in East Africa, with hubs in Dar es Salaam and Nairobi serving Ethiopia, South Sudan, Uganda and Rwanda.

"We're looking at a lot of different possible destinations," Mr Winter said. When asked if they might include Mogadishu, Somalia's capital, he said, "why not? There's a lot of demand." The company is majority owned by Lonrho, with Mr Haji-Ioannou holding 5 per cent of the shares and acting as lead consultant.

darshini, another good read on telegraph :-)

Problem with a company like this if you buy it on a spreadbet the spread is huge.

Tend to use derivatives these days as my net wealth means I pay A fortune in tax. Having said that I PAY 50% and dont use tax avoidance.

I hate people who do that. Should be kicked out imo if they dont pay fair whack.

Goldfinger, you could always buy stock direct if you like the look of it :-)

I think there is a limited amount of shares overhanging from some recent placings at 3.5p and my guess is that they were timed in raising and issue to be clear around the time of the launch or shortly afterwards. So at the moment the Pi,s can get in at the same price as the institutions and city boys at a discount IMVHO. As fastjet is a fairly new stock that is still off the radar to many and not traded big volumes yet it will be interesting to see how quick it rerates.Newsflow here will be regular and positive.

As per my post yesterday in ref to numbers, fastjet have said they will have 15 airbus a319 in service during 2013 which gives a potential passenger traffic of 3.75m ,each a319 is capable of transporting 250.000 passengers a year,they plan to reach a total of 40 aircraft which amounts to a nice round total of 10m passengers.They have also stated they think that could produce a $1 billion turnover business for them. If you look at how fastjet is configured it is effectively EASYJET AFRICA - fastjet is an easygroup brand and the management is mainly ex-easyjet executives that built EZJ from nothing and that is not just stelios but a number of other key men.

The growth here potentially is massive from current market cap :-)

smartvestor,dont know if you saw the article in the FT a few days ago ? Ed Winter
made some interesting comments and sounds rather positive.

Financial Times ( November 26 )

“I want to spread ourselves as fast as we can,” says Mr Winter. “Next week, we’re going to be Tanzania’s low-cost carrier. Not too long after that we can be east Africa’s low-cost carrier, but our ambition is to be a pan-Africa low-cost carrier.”

Yes i saw that article and Mr Winters comments - the term a man with a plan springs
to mind !

Another article in Telegraph today

http://www.telegraph.co.uk/travel/travelnews/9708143/Fastjet-could-transform-Africa-for-tourists.html

Fastjet could transform Africa for tourists*

The launch of Africa’s first low-cost airline promises to open the continent's skies to first-time fliers and cut costs for tourists currently hit with some of the world’s most expensive air tickets.

Fastjet, part-owned by easyJet founder Sir Stelios Haji-Ioannou, will take its first scheduled flight in Tanzania this week and plans to expand first across East Africa and then to Ghana and Angola.

If the airline sticks to these plans, British tourists could soon combine safaris in Kenya with gorilla treks in Uganda and time on Zanzibar's beaches in a two-week trip without excessive flight costs. Such multi-country holidays in Africa have traditionally been restricted to backpackers with time to take cheap transport.

It is the first time the “book early, pay less” model has come to most of Sub-Saharan Africa. Passengers used to full-service airlines may be surprised at charges for checked-in bags or onboard drinks and snacks. But in return for the lack of frills, the firm’s British management promise base fares for hour-long flights from as little £13 before taxes.

“This is something that can revolutionise my work,” said Godfrey Hicheka, a charity director in Tanzania, who regularly travels between Dar es Salaam, the commercial capital, and Kilimanjaro in the north, to visit field projects.

Often he cannot justify the £225 cost for the 50-minute each-way flight. On fastjet, the return ticket will be as low as £33, including taxes.

“That is cheaper than taking the bus, and it means I can go for a meeting in the morning and be back in Dar by evening – it's unbelievable,” he said.

Long-distance road travel is often the only option for most Africans, even those in the booming middle class with salaried jobs.

Mr Hicheka’s 400-mile journey from Dar es Salaam to Kilimanjaro would take 11 hours on a cramped coach on roads with an awful reputation for accidents. Unlike in India or South-East Asia, there are few passenger trains in Africa.

“African economies are among the fastest growing in the world, and a lot of that growth is happening in the middle classes,” said Ed Winter, fastjet’s CEO and former chief operating officer of both Go and easyJet.

“But they have simply not been properly served with options to fly to business meetings, to fly home to see their relatives at Christmas, to take their families on holidays. We are here to fill that gap.”

Fastjet has three 156-seat Airbus A319s at its first hub in Dar es Salaam, initially serving Kilimanjaro and Mwanza, a major Tanzanian city on Lake Victoria.

Before the end of the year, Mr Winter plans to start the first international flight, to Entebbe in Uganda, and then to Nairobi, Kenya, by Easter, where the airline's second hub will be based. Twelve more leased A319s will be delivered by the end of 2013, he said.

“There will of course be benefits not just to East Africans, but to tourists as well,” he said. Flights already connect to Kilimanjaro, for visitors attempting to reach the summit Africa’s highest mountain.

Future destinations include the Indian Ocean resorts of Mombasa and Zanzibar, and Entebbe and Kigali, which would give tourists cheaper access to treks to see mountain gorillas.

However, the fact that no other airline has yet seriously attempted to bring no-frills flying to Africa points to the significant challenges fastjet faces.

Government regulations can be complex, taxes are high, and airport infrastructure often lags decades behind what passengers in the rest of the world expect.

“We know that improved air services are critical to opening up our economy to development, and we can be sure that infrastructure will be improved,” Charles Tizeba, Tanzania’s deputy transport minister, said at the fastjet launch in Dar es Salaam on Tuesday.

Just found a Fastjet promotional video on youtube released today, am really liking the parrot insignia :-)

http://tinyurl.com/d9tsf6p

RNS

Fastjet, Africa's first low-cost airline, commenced commercial flight operations today with its first aircraft flying passengers from Dar es Salaam to Mwanza in Tanzania. The fastjet A319 left Dar es Salaam's Julius Nyerere airport at 6 am (CAT) almost full to capacity; well over half the passengers on board paid USD$20 (excluding taxes and charges) for their seat.

The maiden flight marks the official start of fastjet's commercial operations in Africa; fully on schedule. Chief Executive Ed Winter personally welcomed passengers on board.

A second A319 carrying more fastjet customers on the airline's second route from Dar es Salaam to Kilimanjaro in Tanzania set off later the same morning. Travelling on board with passengers, Chief Commercial Officer Richard Bodin said:

"I would like to extend a warm welcome to all our new passengers travelling today, a very special day for us. Today's flights to Kilimanjaro and Mwanza mark the start of a new, revolutionary, smart way to travel for African people, and our first steps towards becoming a low cost, reliable pan-African airline."

Ticket sales for flights on fastjet's first two routes have been very strong since sales started just over two weeks ago. Seats are being secured well in advance by passengers with bookings into February 2013.

Earlier this week, the launch of fastjet was celebrated at an industry event at Julius Nyerere airport, during which the Honourable Deputy Minister of Transport for Tanzania Charles Tizeba said:


"I would like to congratulate fastjet on its decision to choose Tanzania for its first base in Africa in providing low cost domestic and regional air transport services. The Government recognises the need for the low cost air operations and its immense contribution to the development of the air transport industry in the country and the overall development of our economy."

fastjet expects its third A319 to arrive in Dar es Salaam next week and will publish monthly passenger figures on its website www.fastjet.com

darshini,very positive Rns today and of note "bookings into feb 2013 already"

Start of a big airline here IMO

Good article in flight global and mention of fastjet seeking an opportunity in South Africa.Interesting :-)

http://www.flightglobal.com/news/articles/fastjet-launches-scheduled-flights-from-dar-es-salaam-379587/

Pan-African low-cost carrier (LCC) Fastjet has commenced domestic operations from Julius Nyerere airport in Dar es Salaam, Tanzania.

The maiden flight was operated to the northern city of Mwanza in the early morning of 29 November - departing on-schedule and "almost full to capacity", says the airline. It was followed shortly after by a second service to Kilimanjaro.

Fastjet begins operations with three Airbus A319s (MSNs 2176, 1145 and 1068) - two of which have entered service, while the third joins the fleet on 3 December.

Speaking to Flightglobal in Dar es Salaam before the launch of scheduled flights, chief executive Ed Winter said 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.

"The bilateral agreements allow additional Tanzanian airlines on those routes, but it's not a straightforward case of just adding routes," he explained, adding that securing rights in east Africa can be a "convoluted, slightly bureaucratic process".

Fastjet says it hopes to "democratise" air travel through what amounts to the first concerted attempt to introduce European-style LCC models across Africa.

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 has air operators certificates (AOCs) in Tanzania, Kenya, Ghana and Angola due to its acquisition of regional carrier Fly540, which will continue to operate turboprop services in the latter three countries until Fastjet expands its operations.

The airline also confirmed this month that it is investigating an "earlier-than-expected opportunity" to enter the southern African marketplace.

Winter declined to comment on media speculation about Fastjet holding talks with South Africa's recently-liquidated 1time Airline, saying: "Clearly at some point we would want to be in South Africa...but we're in the middle of a number of negotiations and discussions in various parts of Africa."

He credited majority stakeholder Lonrho Aviation with helping Fastjet lobby governments for lower taxes - a key obstacle to low-yielding LCC models - but accepted that other region-specific challenges persist on the continent.

Tanzanian deputy transport minister Charles Tizeba had struck a cautious note at a press conference in Dar es Salaam two days before the launch, urging transparency over Fastjet's ancillary charges.

Responding to his comments, chief commercial officer Richard Bodin told Flightglobal the airline is sensitive to differing cultural expectations, saying: "The low-cost carrier model is new to east Africa, and it is our responsibility to make sure that customers are brought up to speed with what it looks like.

"One of the first things that we learnt as a small management team was that the pure...low-cost carrier model would not work in east Africa. We have to adapt and mould the model to fit the environment, culture, market, distribution channels and so on."

Winter agreed, saying that while Fastjet imposes charges for baggage and refreshments, his employees will be "sympathetic" when dealing with passenger misunderstandings.

The airline aims to expand its fleet to up to 15 A319s during its first year, with the fourth jet due to be based in Nairobi. It has signed agreements with Swissport International for ground handling and Sabena technics for line maintenance.

One-way ticket prices start at 32,000 Tanzanian Shillings ($20) excluding taxes and charges, with fares expected to average around $80.

smartvestor, another good article on proactive today with broker target

http://www.proactiveinvestors.co.uk/companies/news/50949/update-fastjet-destined-for-profit-in-2013-broker-speculates-50949.html

A new era of low cost travel dawned in Africa as Fastjet’s (LON:FAST) inaugural flight took off from left Dar es Salaam's Julius Nyerere airport earlier today.The airbus A319, bound for Mwanza in Tanzania, was almost full to capacity, with over half the passengers paying fares of US$20 a head before taxes and charges.

The maiden flight marks the official start of Fastjet's commercial operations in Africa. A second A319, bound for Kilimanjaro, set off later the same morning.Fastjet’s chief commercial officer, Richard Bodin, said: "Today's flights to Kilimanjaro and Mwanza mark the start of a new, revolutionary, smart way to travel for African people, and our first steps towards becoming a low cost, reliable pan-African airline."Ticket sales for flights on Fastjet's first two routes have been very strong since they started just over two weeks ago. Seats are being secured well in advance by passengers with bookings into February 2013, the company reported.

Broker Daniel Stewart says that the airline has left it a bit late to show a profit for the current year, but it could be quids in next year."If the operator hits its target of having more than 10 A319s in operation in 2013 and is able to achieve a load factor rate of between 70% - 75% we expect the business should show a healthy profit for 2013 which would imply the stock is currently trading on an attractive multiple in our view," Daniel Stewart analyst Michael Campbell said.

An early move into profit would be great news for Lonrho (LON:LONR), which owns around two-thirds of Fastjet, Campbell notes.Daniel Stewart has a 'buy' rating on Lonrho, with a 20p
price target.

have been following this company for a while and think it looks a cracker :-)

Article in Huffington post today

By Charlie Thomas

http://www.huffingtonpost.co.uk/2012/11/29/sir-stelios-fastjet-successfully-launches-first-flight_n_2209924.html

Sir Stelios Haji-Ioannou's Fastjet - the low-cost African Airline - has successfully completed its first two commercial flights, launching the new airline on schedule.The first Fastjet A319 left Dar es Salaam’s Julius Nyerere airport at 6 am Central Africa Time at almost full capacity with more than half the passengers on board paying USD$20 (excluding taxes and charges) for their seat.A second A319 carrying more customers on the airline’s second route from Dar es Salaam to Kilimanjaro in Tanzania set off later the same morning.The flights mark the culmination of more than a year's worth of planning for Sir Stelios's team; FastJet recently raided European low-cost rivals Ryanair, EasyJet and African airline Air Uganda to expand its executive team with Rob Bishton joining as operations director from EasyJet, Kyle Haywood, former chief executive of Air Uganda, joining as general manager of Africa, and former Ryanair executive Harun Cordan assuming the role of group chief pilot and head of flight operations.

Chief commercial officer Richard Bodin commented: "Today's flights to Kilimanjaro and Mwanza mark the start of a new, revolutionary, smart way to travel for African people, and our first steps towards becoming a low cost, reliable pan-African airline."Fastjet is said to be happy with the sales of tickets since it launched them two weeks ago, with flights currently booked into February 2013 already.

Earlier in the week, the launch of Fastjet was celebrated at an industry event at Julius Nyerere airport, during which the deputy minister of transport for Tanzania Charles Tizeba said: "The government recognises the need for the low cost air operations and its immense contribution to the development of the air transport industry in the country and the overall development of our economy."Sir Stelios’s easyGroup Holdings owns 5% of FastJet and has the option to acquire another 10% at a price of 5.2p per share until 2 August 2014. Sir Stelios is also a director of the airline.

Airbus forecasts that total passenger traffic in Africa will grow at an average yearly rate of 5.7% between 2010 and 2030, well above the 4.8% world average growth rate.It also expects Africa to deliver more than 1,100 new passenger aircraft and 4% of world deliveries in the next 20 years to satisfy growing demand.

RNS:

Fastjet takes off, achieving a 78% load factor on first day

fastjet, Africa's first low-cost airline, commenced commercial flight operations yesterday, 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%.

Future demand for seats on these two initial routes is currently far outstripping supply. Additional flights to these destinations are already being considered, and the Company also intends to expand its route network regionally over the coming weeks as the fleet grows to three Airbus A319s.

Commenting on the success of the first day, fastjet Chief Executive Ed Winter said:

"fastjet is delighted to see how the people of Tanzania are embracing the Low Cost Carrier model. Yesterday was a huge success and a great way to start operations. We are pleased to see reservations and bookings continuing to grow. The demand for this type of air travel has far exceeded the Company's expectations. Yesterday's passengers ranged from business people through to many first time flyers who were using fastjet as an economic alternative to conventional bus transport. Clearly, as predicted, our low cost model is stimulating a whole new market of people to fly."

Dont know if anyone seen this on proactive yesterday ? they think fastjet will have
a very good 12 months ahead

http://www.proactiveinvestors.co.uk/companies/news/50949/update-fastjet-destined-for-profit-in-2013-broker-speculates-50949.html

jackson55, yes it was spotted here yesterday but a good read !

I have had three buys here this week and all shown as sells,i think this is being
carefully held by the mm,s while someone being loaded.Lots of delayed large
buys popping up since monday.

jackson55,the article in proactive investors looks rather positive to me


A new era of low cost travel dawned in Africa as Fastjet’s (LON:FAST) inaugural flight took off from left Dar es Salaam's Julius Nyerere airport earlier today.

The airbus A319, bound for Mwanza in Tanzania, was almost full to capacity, with over half the passengers paying fares of US$20 a head before taxes and charges.

The maiden flight marks the official start of Fastjet's commercial operations in Africa. A second A319, bound for Kilimanjaro, set off later the same morning.

Fastjet’s chief commercial officer, Richard Bodin, said: "Today's flights to Kilimanjaro and Mwanza mark the start of a new, revolutionary, smart way to travel for African people, and our first steps towards becoming a low cost, reliable pan-African airline."

Ticket sales for flights on Fastjet's first two routes have been very strong since they started just over two weeks ago. Seats are being secured well in advance by passengers with bookings into February 2013, the company reported.

Broker Daniel Stewart says that the airline has left it a bit late to show a profit for the current year, but it could be quids in next year.

"If the operator hits its target of having more than 10 A319s in operation in 2013 and is able to achieve a load factor rate of between 70% - 75% we expect the business should show a healthy profit for 2013 which would imply the stock is currently trading on an attractive multiple in our view," Daniel Stewart analyst Michael Campbell said.

An early move into profit would be great news for Lonrho (LON:LONR), which owns around two-thirds of Fastjet, Campbell notes.Daniel Stewart has a 'buy' rating on Lonrho, with a 20p price target.

Been a few articles in last few days stating that fastjet will be adding more routes
shortly,could be some announcements this week.

darshini, yes i have seen some stuff on this too and found this over weekend too

"FastJet, which began flying on Tuesday, plans to extend services from Tanzania to neighbouring Uganda next month, and Kenya by the first quarter, as part of a push to become Africa’s first pan-continental discount airline.

"The paperwork is ongoing and we hope to start flying from Entebbe before Christmas," FastJet CEO Ed Winter said in an interview on an inaugural flight over Dar es Salaam. "We might begin services from Nairobi in February or March," he said.

FastJet is also targeting flights to Kigali in Rwanda and Juba in South Sudan in the first six months, Mr Winter said.

The London-based carrier will operate twice daily from Dar es Salaam to the tourist hub of Kilimanjaro in northern Tanzania and Mwanza on the shores of Lake Victoria starting on Thursday. FastJet also plans to add bases in Ghana and Angola and to fly to Zambia, Zimbabwe and South Africa.

Between 1,000 and 1,500 bookings had been taken daily since tickets went on sale two weeks ago, Mr Winter said aboard the company’s first Airbus SAS A319 single-aisle aircraft. He said demand was "overwhelming".

FastJet’s second leased A319 should arrive in Dar es Salaam today, and the third next week, with the fleet likely to be expanded to as many as 15 aircraft by the end of next year. Airbus vice-president for African sales Hadi Akoum said in an interview in Dar es Salaam that FastJet — backed by Stelios Haji-Ioannou, the founder of the UK’s biggest discount airline, easyJet — has plans for a fleet of 40 aircraft.

Tanzanian Deputy Transport Minister Charles Tizeba said FastJet’s presence would aid plans to transform Dar es Salaam’s Julius Nyerere Airport into a regional hub, while a new terminal and runway extension were planned at Mwanza."

Some interesting news last few days,possible deal with emirates coming and fastjet
in discussions to take over 1time in south africa.Start of a big airline here IMO

Some large volume once again as is rising. Breaking previous highs after the last retracement

Sovereign Investor tips Fastjet ( FJET )

'Inexpensive Play on African Growth'

When people progress from subsistence living to consumerism, investment profits explode. That’s because it’s not just a single person here or there who has a few extra dollars to spend … it’s tens of millions of people with extra dollars to spend. And they’re all spending on the same things: better food, better housing, better education for their kids, and a host of consumer items ranging from TVs and refrigerators to cars, cellphones and vacations.

While Western investors don’t see this, numerous Western companies do. They’re rushing in to grab their piece of the burgeoning African consumer market … and you would be wise to the do the same.

EasyJet is the latest example of a Western company that sees the huge potential in Africa. The company built its name as a leader among Europe’s low-cost air carriers, and today shuttles some 55 million passengers all around the Continent every year.

Now its brand of low-cost travel is invading Africa. The company’s founder, Sir Stelios Haji-Ioannou, has helped launch FastJet, an easyJet knock-off that begins its life in Tanzania, and aims to spread across East Africa and then into Ghana and other markets where a consumer class is quickly emerging. The company recently agreed to buy a South African low-cost airline out of liquidation, giving the company additional routes.

The low-cost model promises to revolutionize Africa the way cellphones did. Planes will be a leapfrogging technology in that the continent’s roads are often undrivable and rail infrastructure is rudimentary at best – assuming it even exists.

As FastJet expands, economies will ramp up at even faster-than-expected growth rates. Businessmen in Dar es Salaam along Tanzania’s east coast, for instance, will be able to get to Mwanza in the north in just 90 minutes and for as little as $125 roundtrip. Prior to FastJet, the trip was roughly 15 hours one way, on a bus, across questionable roads.

Linking the two cities with low-cost air service means businessmen can fly back and forth in a single day. Economic activity will pick up, which begets increasing prosperity for locals, which begets a larger and larger consumer class … which ultimately means profits for investors who understand the trend that FastJet is exploiting.

An Inexpensive Play on African Growth … Through London

America has had its day in the sun. Before that, Europe did. Asia is still basking in the early glow of sunrise … and in Africa, dawn’s faintest rays are only now coloring the still-dark horizon.

But early investors here will make very large sums of money – the kind of money you bequeath to heirs through your estate. The path will certainly be bumpy at times, but when you follow investors like Sir Stelios and his low-cost airline model, you are following in the footsteps of some of the smartest money around.

This is money that understands the changes that are reshaping a continent that most Westerners still associate with Sally Struthers and her incessant pleas to wipe out famine. They think of political corruption, kleptocracies, genocides and war. What they miss out on is that a lot of that has died away, and in its place are emerging more-stable governments, capitalist economies, new stock markets, and a rash of companies that are serving the growing middle class.

For investors who have the patience and can accept the inherent risks, FastJet is publicly traded in London, under the symbol FJET. The stock currently trades at about £0.038 (US$0.06), and it’s a long-term, speculative buy.

If the company hits its 2013 mark of operating 10 to 15 Airbus A319s (the workhorse, 737 of the Airbus fleet), if it can manage to fill between 70% and 75% of its aircraft, and if it inks a partnership with Dubai’s fast-growing Emirates Airline that wants to expand into Kenya and other parts of Africa, then FastJet will prove to be a fantastic way for investors to play consumer growth in Africa.

Looks interesting.
New era in Africa with lots of money being spent around.

Share price is going places again today, after the late mark down on Friday, most likely the MMs play the usual game.... trying to shake a few nervy holders to square their book but with no much success, so this morning mark up again. from the 4.15p close to 4.225p, price before the games.

BREAKOUT

And that was it a SPIKE to 4.475p, looks like a record volume is on the cards today, already over 21M on 2 hours of trading

up to 4.675p now as volume has reached 25m on 3 hours of trading

risky! lol

I have reached the conclution that as many over here, you have no idea of shares or business or strategies

not sure how you gleaned so much from one line but heyho - i know africa very well that is how i know there is very high risk apart from far from world class business and political scene out there - sensible peeps will cash in now - wait for the drop and buy back if they want to continue this high risk play - at least they will have more shares for their buck if this ever lives to potential being hyped for it - at keast there is no corruption in africa LOL!

are you a woman?

there is risk in India nowdays say the news, but people goes there.

there is risk in crossing the road, but many do every day.

in order to make money one have to research and take risk some times, not seating by the PC and say nonesence.

What are you doing here if you do not want to take risk?

The stock market is a risky business, we all know ( except you ), but one can get better return than just buy for the dividend or in a deposit account.

it seems you bore and just postting, the "facebook" maybe is much better for you

I think the reward by far overweights the risk. Fjet cleared the floating price which is a very good sign.

I think the risk for this company is little given the experience of the management and that little, if any, competition. The population is young ....etc.

After the recent 50% Fibonacci retracement @4.05p today is rising again with lots of large buying trades .

UP to 4.35p now as the large trades kept appearing on the ticker

hardly any selling and earlier delayed put as a sell was a buy naturally the price moved up so it shows as sell

Bounce from 50% fibonacci retracement

FJET - Fastjet to unveil first international services:

African no-frills carrier Fastjet is expecting to announce its first international routes in the next few weeks with planned flights from Tanzania to South Africa and Uganda.

The airline, which is being backed by Easyjet founder Sir Stelios Haji-Ioannou, launched operations in November with two domestic services from Das es Salaam in Tanzania.

Fastjet said that it “expects to announce regional routes to Entebbe in Uganda, Johannesburg in South Africa and Moroni in the Comoros Islands in the next few weeks”.

The airline is currently flying from Dar es Salaam to Mwanza and Kilimanjaro – Fastjet said it had carried 30,000 passengers during its first month of operation in December.

Fastjet has plans to become the first pan-African no-frills airline operating across the continent.

It has also launched a mobile payment service through telecoms firm Vodacom which allows customers to buy airline tickets through their phones.

“This new partnership means that today more than 9 million subscribers to M-PESA Tanzania are able to book and pay for Fastjet tickets with their mobile phones and will receive booking and payment confirmations by SMS,” said Fastjet.

“Credit and debit card payments are expected to be introduced next month, providing a further easy payment option for international passengers.”

fastjet-to-unveil-first-international-services

I have added to my stake in FJET. I own some as shares, and have an additional spreadbet with IGindex. I expect this to be one of the strongest growers in my portfolio this year.

I am aware of the risks - both in it being an airline stock and in being dependent on infrastructures in parts of Africa that are less dependable.

The large shorting has done a big damage for the last few days, price leveling at 3.35 should be ready to bounce back from here

sp seems to be in a tailspin!

RNS Number : 2274X

Fastjet PLC

6 February 2013

Press Speculation

In response to recent misleading press reports, the Board of fastjet plc wishes to clarify its position relating to false and damaging statements made by Don Smith, CEO of Fly540 Kenya, the Group's Kenyan subsidiary.

The Company categorically refutes claims made by Don Smith regarding any unpaid consideration for the purchase of its interest in Fly540 Kenya and numerous other unsubstantiated claims made through the press in recent weeks. fastjet, following consultation with its senior legal advisors in East Africa, is preparing to take legal action against him should he not cease and desist.

Commenting on the recent allegations, fastjet Chairman David Lenigas said:

"fastjet is committed to conducting its business in an open, transparent and entirely legal manner through the proper channels. The Company does not intend to continue rebutting false allegations through the press but will take legal action over any further such claims.

"fastjet has paid Don Smith and his partners well in excess of US$6 million for their interest in Fly540 and associated brands and we will now aggressively seek to have our purchase contracts enforced."

"The Company will not tolerate coercive and underhand practises. Issues created by Don Smith in Kenya have not and will not affect fastjet's overall plan of becoming Africa's first pan-continental low-cost carrier."

"The Company's position in Kenya, just one small part of our overall expansion plan, has already been secured through its MoU with Jetlink, announced last week. We feel that Jetlink, which already has IOSA accreditation, is a far better Kenyan partner for fastjet given our standards of safety, security and reliability . Following an extensive review, we concluded that Jetlink would provide a better long term launch-pad for fastjet due to its superior infrastructure and accreditations to service and manage a fleet of modern large jet aircraft."

"Africa carries nearly 4% of global passenger air traffic but unfortunately today accounts for nearly 25% of the world's aviation accidents. Our mission to bring safe air travel to the people of Africa requires high standards and constant vigilance that these are being met."

fastjet CEO Ed Winter added:

"Where previously undisclosed historic debts accumulated by Don Smith and Fly540 have come to light post-acquisition, fastjet is working closely with creditors to reach a satisfactory conclusion for all parties involved. We do not agree with the amounts mentioned in recent press articles are and where amounts are recognised as owing do not deem them significant in relation to the business as a whole. These isolated issues are not affecting the day to day operations of fastjet or any of our operations in Angola or Ghana that fly under a separate Fly540Africa brand."

"fastjet will seek to recover these undisclosed debts and any other amounts due under the warranties given by Don Smith and his partners in their agreement to sell their interest in Fly540 Kenya to fastjet in June last year."

"The fastjet management team remains steadfastly committed to the Company's development, building on our success in Tanzania and continued growth towards democratising African air travel and becoming the first pan-continental low-cost carrier."

"In the meantime, we continue to work with the relevant authorities in other countries in Africa to expand the fastjet network."

fastjet welcomes support from Tanzanian government

Pan African low-cost carrier fastjet is delighted at the recognition of its services by the Tanzanian government in a leading national Tanzanian newspaper.

fastjet has been operating in Tanzania since November 2012 in close cooperation with local transport authorities and government. Deputy transport minister Dr Charles Tizeba told the Daily News, a leading Tanzanian newspaper, that "having an airline that provides affordable fares for the majority of the people is what matters to the government".

fastjet chief executive Ed Winter said: "fastjet is incredibly pleased with the progress it has made in Tanzania and values the government's ongoing support here. This solid foundation strengthens the ongoing negotiations with other governments across Africa keen to introduce a safe, reliable and affordable airline."

At 1:17pm: (LON:FJET) share price was +0.28p at 3.55p

I just heard that the big greek man is threating to sell millions of shares, he is the main man behind fast jet. what is going on !? Are we heading for a nose dive ? or what.

Wow, Who told you THAT?

£4 million Funding

fastjet announces that it has increased its working capital through a new successful fund raising with gross proceeds of £4,028,125 via a combination of a subscription with an existing institutional investor and other investors and a draw down on its £5 million Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Fund.

The Company has received legally binding contracts to raise £3,500,000 by way of the issue of 155,555,556 new ordinary shares ("Placing Shares") at a placing price of 2.25p per share. These shares will rank pari passu in all respects with existing ordinary shares of 1p each in fastjet. Once all the funds have been cleared, the placing will be completed and the Company will make an announcement of the issue of the Placing Shares and their date of admission to AIM. Each of these new Placing Shares will have one attaching warrant for every two allocated Placing Shares subscribed for, with each warrant entitling the holder to subscribe for one ordinary share in the Company at 5p per ordinary share with an exercise period of twelve months.

In addition, and under the terms of the previously announced £5 million EFF agreement, the Company has raised an additional £528,125 by way of the issue of 16,250,000 new ordinary shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares will be issued at a price of 3.25p per share and will also rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

An application will also be made to the London Stock Exchange for the 16,250,000 EFF Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in these new shares is expected by 15 February 2013.

Following Admission, the Company's enlarged issued share capital will comprise of 2,072,416,561 ordinary shares with voting rights. This figure of 2,072,416,561 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

ahoj,ref youre post 11 feb,skinny seems to know all that goes on ,it was in the daily hereld so i was told , so ask skinny.

RNS Number : 4290Z

Fastjet PLC

07 March 2013

7 March 2013

fastjet plc

("fastjet" or the "Company")

fastjet seeks UK High Court Ruling on Fly540 Kenya Control

fastjet advises that it has issued proceedings in the High Court of Justice in England, seeking a declaration that it has fulfilled its obligations under the Sale and Purchase Agreement ("SPA") made between fastjet Plc (formally Rubicon Diversified Investments Plc) with Donald Smith on the 10 June 2012, including that it has paid Mr Smith in full for his shares in Fly540. It also seeks an order that Don Smith immediately hand over all the necessary documents to complete transfer of control of Fly540 Kenya to fastjet and/or its nominees.

The SPA is specifically governed by English Law.

David Lenigas, fastjet's Chairman stated:

"We are always reluctant to take legal action to enforce a contract, so we are disappointed that the Company has had to resort to this measure to force Mr Smith to complete his part of the commercial transaction that he agreed and signed off in June last year. The Company has paid Mr Smith a fair and reasonable price for his controlling interest in Fly540 Kenya and we expect to receive in full what we have paid for."

"fastjet is adamant that Mr Smith has been paid his full consideration and we will now ask the High Court of Justice to rule on this matter."

"We sincerely hope that the process will be dealt with speedily, so that the unnecessary and apparently contrived confusion surrounding control of the Kenyan operations can finally be put to rest."

astjet secures £15.68m to fund growth

StockMarketWire.com

fastjet has entered into a convertible securities deed with Bergen Global Opportunity Fund in connection with zero coupon convertible securities with a nominal amount of up to £15,681,750.

fastjet chief executive Ed Winter said: "This agreement with Bergen gives us access to very significant funding over the next year on a flexible basis and will provide us with a solid platform on which to grow the business and expand our operations in Africa.

"The investment structure potentially reduces the dilution to existing shareholders and gives us the opportunity to restructure parts of the business and adapt our business model in the light of our experience so far in Africa. "Securing this funding will assist us in our core objective of making fastJet the first pan-African low-cost airline and meeting the growing demand for air travel across the continent."

RNS Number : 6074Z

Fastjet PLC

08 March 2013

8 March 2013

fastjet plc

("fastjet" or the "Company")

Update on 1time negotiations

Further to the announcement of 19 December 2012 in relation to the option agreement over 1 Time Airline, the Company provides the following update.

The Chairman and Chief Executive of fastjet plc, the London-listed low-cost African airline, will be in South Africa next week to meet with 1Time's Provisional Liquidator and the authorities to continue discussions regarding the potential re-launch of 1Time.

fastjet has an option with the 1Time Liquidator to acquire what is left of the business, subject to a number of conditions.

fastjet has been working with a number of South African-based entities in recent weeks and believes it has now found a solution to secure acceptable partnership arrangements which ensure that any change of control of 1Time would comply with current South African laws on foreign ownership. fastjet is hopeful that a deal could be finalised and feels confident that an acceptable solution can now be put to the Liquidator so a meeting of creditors might be called.

fastjet Chairman David Lenigas said:

"We see a real opening in the Southern African marketplace for a true Low Cost Airline such as fastjet right now and although we have met with stiff opposition from other South African carriers, we feel that the South African flying public will be the true beneficiaries of the added seat capacity we intend to offer.

"Airfares in South Africa appear to have skyrocketed since 1time ceased flying at the end of last year, and many planes are operating full to capacity on the key Cape Town and Durban routes.

"We will also be seeking high-level meetings with the Aviation Authorities to allow Fly540 Tanzania to operate daily services from Dar es Salaam in Tanzania to Johannesburg."

fastjet Files Letter of Intent With 1 Time Liquidators

Further to the announcement of 8 March 2013 in relation to the option agreement over 1 Time airline, fastjet plc, the London-listed low-cost African airline, provides the following update.

fastjet has filed a letter of intent with the liquidators of 1 Time in Johannesburg, South Africa, to enable the liquidators to negotiate a compromise settlement with the creditors. This is a major step towards the acquisition of 1 Time and the launch of fastjet flights in South Africa.

fastjet Chief Executive Officer Ed Winter said: "fastjet is really excited about the opportunity to serve the South African air travel market and this is a very significant step towards making that a reality."

Whilst 1 Time remains firmly fastjet's preferred route, the low-cost carrier continues to explore alternative partnerships to launch fastjet in South Africa which will be available if a satisfactory compromise cannot be negotiated with the 1 Time creditors.

Ends.

fastjet and Don Smith sign MoU to resolve dispute

fastjet advises that it has entered into an MoU with Don Smith, CEO of Five Forty Aviation Limited which trades in Kenya as Fly 540, with a view to resolving recent disputes and establishing a way by which the two parties can work together to maximise the value and business prospects of both Fly 540 and fastjet.

The MoU includes, among other provisions, an agreement by both parties to stop legal proceedings in order that mutually beneficial and constructive resolutions are discussed and implemented.

Commenting on today's progress, fastjet CEO Ed Winter said:

"The signing of this MOU provides a positive platform for fastjet to strengthen its East African Hub".

"Both fastjet and Don Smith are pleased to be putting the unfortunate, highly publicised events of the past few months behind us. Don Smith remains the CEO of the Kenyan business and we are pleased to have him as part of the fastjet/Fly540 team."

fastjet looks forward to providing further positive updates in due course.

Plop!

do they carry parachutes for passengers/investors?

lets hope the sp has landed!!and will take off soon.

Budget airline.......in Africa! Even if you had one, you could easily end up dropping into Zimbabwe, Angola, Ethiopia, Somalia, Libya, Congo..............

StockMarketWire.com

fastjet has raised additional working capital to assist with launch of its South Africa service though a successful placing with an institutional investor who is committed to low cost air travel in Africa.

The company has received legally binding commitments to raise £2,000,000 through the issue of 160 million new ordinary shares at 1.25p apiece.

The placing shares carry one attaching warrant for every two allocated placing shares subscribed.

Each warrant entitles the holder to subscribe for one ordinary share in the company at the placing price with an exercise period of one month.

Not a pretty sight.

Something it hot lately, is bouncing from the lows, large volume today

final tailspin?

Confess I had looked at these but grateful that look was all I did.
2517

Another plop with volume!

Not good.

Results out:
http://www.moneyam.com/action/news/showArticle?id=4606056

Looks like FLY540 is running at a loss of $17.8m, which is dragging the Co down, amongst other things!

Plop!

Can we rely on you to highlight the gaps on the way up.......as & when? ;o)

Warned posters about this one on the accent of EZJ when I was repeatedly told swap swap over.

Glad I didnt now got well over a bagger on my hands.

Operational Update

fastjet, Africa's low cost airline, ahead of the release of its monthly passenger statistics is pleased to report its best month of trading to date across the entire Group.

Tanzania
Passenger sales records for the fastjet operation were comfortably beaten in May. Revenues, in excess of US$1.8m for the month, were up approximately 50 per cent compared with the start of the year. Revenue per passenger has increased by 62 per cent since the beginning of 2013 and load factor* rose 11 per cent in May compared to April. This performance is expected to continue into June.

These encouraging figures show that the Tanzanian public has fully embraced the low cost airline model and fastjet has successfully stimulated a new market in Tanzania. Six months since launch, fastjet is regularly flying profitably (more than covering direct operating costs). in Tanzania, and is expecting to commence flights on international routes from Dar es Salaam shortly.

Ghana
The Fly540 operation in Ghana has also made significant progress in terms of passenger loads and revenues. The number of passengers booked to travel in May saw an 11 per cent increase against the previous month and the operation has also seen a 52 per cent increase in passenger numbers compared with May 2012, a 25 per cent increase in revenue, and an exemplary operational record of reliability.

We are also seeing a significant change in consumer behaviour with a 398 per cent increase in web based sales so far in 2013 versus the whole of 2012.

Angola
Traditionally a more challenging place to operate in, fastjet's Angolan business has achieved its highest passenger sales figure since the start of operations in January 2011 with a 63 per cent increase in passenger numbers in the last five months, and a corresponding revenue increase of 66.5% per cent between January and May. Month on month passenger growth between April and May was 38%.

fastjet is training more Angolan pilots than ever and is looking to increase the scale of its operation there as soon as practical.

Ed Winter, Chief Executive Officer of fastjet said: "May has been an excellent month for the Group. The Tanzanian operation has seen a real growth in passenger sales revenues. This suggests that we have captured the hearts and minds of the Tanzanian public and I am delighted that we are now firmly the "airline of choice" on all of the routes we currently operate."

"Our continued growth in both Angola and Ghana is enormously pleasing. Simply put, we are carrying more passengers, enjoying increased yields and an ever improving level of dispatch reliability in each of these operations.

"Since the start of the year, we have grown the business substantially in the face of challenges. Our prospects in each of our operations look very positive and our aim to become Africa's first low cost carrier is well on its way to becoming a reality."


*the average percentage of seats sold on each operating aircraft

Would this be a good time to open a position,update looks good.

The only area which they say is operating profitably is Tanzania. I assume that Ghana & Angola are still not, even though bums on seats have increased.

I guess like many investments in Africa, its all down to the :-

Interesting board of directors. Not an african amongst them!

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

And main shareholders are :

Lonrho Plc 1,160,037,455 - 47.53%

Henderson Global Investors 152,728,147 - 6.26%

easyGroup Holdings Limited 93,327,995 - 3.82%

Still, there is good news! "To celebrate the re-launch of our popular route between Kilimanjaro and Zanzibar, we’re offering one lucky person the chance to win 2 return flight tickets on this route!"

Could not resist a punt on this one this morning,turning a corner in the right direction,main shareholders also give me some confidence.

Good luck with that Roselea! I think I will wait awhile.

I need 4.5 to break even!!!
Should wait for ten years probably!!!

up 67% wow..

Director buys 1,000,000 shares at 0.986 missed the boat there did,nt he,even I got in miles cheaper than that

Id watch it like hawkeye. Same posters who have taken it up may well take it back down tomorrow. Just seen the usual suspects across the road as holders.

Do I sense some nut cases are not in?

They missed the bottom or they had no "balls" to buy at lows,
no wonder they are negative?
That would not happened if they bought, ramping will be the tone here, there and everywhere.

Gold diggers, that need - toilet paper - for what they have found, that is the truth.

So next rises in share price will come if or as and when any of these milestones are reached:

Tanzanian Government grants cross border flying which seems more likely given that FJ are courting local investors in Tanzania – more local influential political influence. Expect this within 3 months and share price rise to follow.

South Africa – 1st July launch date. We all know we need this to happen on time now. Rise in share price will follow.

More Director buys – rise in share price will follow.

Integrating all the Fly450 operations into the FJ website and making the bookings of them accessible as per the Tanzanian options currently available on the FJ website. Revenue will increase simply because bookings are accessible and share price will rise in line with that slowly. A more coherent brand makes sense.

Confirming partnership deals like TUI and others – price will rise.

Just need to be very careful with Kenya and Don Smith, the more distance we put between FJ and him the better I would say. Also need to avoid any reputational damage like scandals or safety issues but apart from that we are all good.

As I say all in my humble opinion, good luck fellow investors/punters

mascot, Im just reporting what I have seen across the road on the 'top traders thread'.

ohh and by the way I wouldnt need to buy stock at the bottom, I could just buy the whole airline If I was interested.

@ 3.15am reporting!

Someone has sleepless nights? no the type of people that can buy a small airline.
But talk is easy than done, if influence by drink or drugs at the time.
Iinsomnia is not good for the stock market, you are missing today's rise already at 1.48p or 38% and paying full offer price.

Looking good for you Roselea!

FastJet founder says it is in Africa for the long haul
by Evan Pickworth, 07 June 2013, 07:45

LONDON-listed FastJet may have failed to lift off in South Africa at the end of last month, as planned, but one of its key stakeholders, Sir Stelios Haji-Ioannou, said on Thursday he was willing to take a five-year view on the deal.

FastJet aims to match the success of low-cost carrier in the UK easyJet by creating a low-cost Pan-African carrier, but has hit serious headwinds in Africa. Expansion in East Africa has been grounded because of disputes with former management at a regional African airline it bought.

Further, it is in conflict of interest disputes with a former subsidiary in Zimbabwe and has failed in its bid to buy the bankrupt 1time in South Africa. But FastJet is flying successfully from its base in Tanzania.

Also, it has set up in South Africa a company that has the required 75% local shareholding to own an airline. And it has struck a deal with President Jacob Zuma’s son Edward and other connected businessmen.

"Africa is a difficult place to do business — it is not open skies," said Sir Stelios at the Ernst & Young Entrepreneur of the Year awards on Thursday. "It is like trying to invest in Europe in the ’80s."

He launched his successful pan-European airline in the ’90s after regulation had been eased.

Sir Stelios said Africa was the "final frontier of aviation" as the low-cost revolution had happened everywhere else already. "We will see what happens — I can’t say it will be a success in five years, but it is risky."

FastJet says it hopes to be ready for take-off in South Africa in July after the failure to launch at the end of last month because of technical difficulties.

But it will fly into more stormy skies when it eventually takes off because of thin margins in South Africa, evidenced by the long line of failed low-cost airlines. Durban-based Velvet Sky has already admitted defeat.

On the other hand, Comair is in the middle of a legal challenge to the government’s continuing support for local carrier SAA despite continual losses.

But FastJet has outsourced operations to Federal Air, which has some success in flying tourists to game reserves and has a licence to fly long haul.

Sir Stelios said while higher fuel costs had been passed on to consumers, this could not continue forever.

He believed this would mean a period of slower growth for airlines, but saw profits for low-cost airlines if they could not compete on price.

"Entrepreneurs come in all shapes and sizes, but they all like to take risks," Sir Stelios said.

FastJet is backed by London and JSE-listed Lonrho, which on Tuesday published a scheme of arrangement proposing the company be bought by FS Africa and delisted.

LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL.......

mascot 07 Jun 2013 09:20 - 98 of 100

@ 3.15am reporting!

Someone has sleepless nights? no the type of people that can buy a small airline.
But talk is easy than done, if influence by drink or drugs at the time.................ends

If you had any knowledge of this board youd know I post at that time or later frequently. I normally put in a 18 hour day and trade on the Asian markets at times.

As for me taking drink or drugs it just adds to your general ignorance. Yep I like a pint just like the next man.

Youve been given another days grace, but dont say I didnt warn you, and ask the holders here who just recently purchased these shares at 4p or their abouts what they think of this company

eg, ahoj - 06 Jun 2013 10:12 - 91 of 100

I need 4.5 to break even!!!
Should wait for ten years probably!!!......ends

Youve had a tit end of a gain compared to their loses.

Ive warned you in the best interests.

I admit that I got this wrong, as happens a lot these days.

All the problems stated in the report a couple of days ago exist, and the company may face serious problems. But there is a general change in wealth distribution around the world. Africans are getting richer and the countries are developing quite fast, certainly faster than wester countries, and their currency is improving. The demand for cheap airline is on the up, as the report yesterday shows, and will improve. I believe Fjet will benefit and should recover.

I hold as I mentioned before and will continue to hold.

ahoj, not having a go at you mate. Just used your post as an example to show how the SP should be put into recent historical perspective especially after that report a few days back.

hmmm way off highs of day and falling, I did warn you.

These guys are just manipulators in one large group. Be very carefull.

Look at the upper tail on the candle......

What an incredable turnaround of events on this one.Surprise rns.

fastjet terminates Convertible Securities Funding

The Company announces that it has terminated the convertible securities deed with Bergen Global Opportunity Fund, LP ("Bergen") signed 7 March 2013 (the "Convertible Securities Deed") having issued no further securities under the Convertible Securities Deed beyond the initial nominal amount of £2,556,750 announced on 8 March 2013.

David Lenigas, Chairman of the Company said:

"The fastjet board have, after a careful review, decided that the funding provided by the Convertible Securities arrangements does not represent best value for the Company, because primarily of its potential impact on the Company's share price. The Board believes other sources of finance available to the company to be in the better interests of the Company and its shareholders and has accordingly terminated the Convertible Securities Deed."

It seems FastJet's market entry has caused Tanzania's biggest private airline, PrecisionAir, into a financial crisis. Here is the article from Tanzania's Guardian on Sunday:


PrecisionAir faces financial dilemma
BY FLORIAN KAIJAGE
9th June 2013

The unplanned regional expansion and the entry of low-cost airline, FastJet, has thrown the country’s biggest private airline, PrecisionAir into financial crisis, The Guardian on Sunday has learnt.

Though none of airline’s top executives are unwilling to confirm the current financial turmoil, details gathered by The Guardian on Sunday for two months show that the airline has been forced to cancel the operation of Boeing 737-300 in domestic routes due to financial crisis.

The airline’s troubles were first noticed just after the departure of its former Chief Executive Officer, Alfonce Kioko, who was replaced by Sauda Rajabu, The Guardian on Sunday has been told. Some believe the former CEO mismanaged the company’s finances, while others say the current financial turmoil was caused by a rapid regional expansion that saw the airline expanding its wings to Johannesburg, Lusaka and Lubumbashi between 2011 and 2012.

The expansion plans, according to inside information, weren’t well researched -- especially the Dar-Johannesburg route – which turned to be a burden for lack of enough passengers to break even. The airline was operating a Boeing 737-300, which compared to 737-800 or Airbus A320 operated by South African Airways, was more expensive than the latter especially in fuel efficiency.
So PrecisionAir was forced to cancel its Dar-Johannesburg route before the end of last year, giving SAA virtual monopoly on the route, the Guardian on Sunday has learnt.

This regional expansion ostensibly carried out without proper planning and also without a fleet with fuel efficiency – to accommodate more passengers and cargo – were some of the factors that literally shot down the airline.
As the airline ran high operation costs at its newfound regional routes -- including Dar-Nairobi -- at the domestic market scene was dogged down by the arrival of the low-cost airline, Fast Jet, our surveys show.

FastJet, which operates the Airbus A319, came riding the high crest of the promotional lower fares – in itself a sensation rare in Tanzania, where even bus fares keep rising. Within weeks, the airline’s financial outlook deteriorated -- especially on its Dar-Mwanza route.

As a result, Precision was forced to suspend the operations of Boeing 737-300 between Dar and Mwanza three months ago in what was termed as high operational costs. Before that, the airline was operating three times a day. The route has since been replaced by ATR-500, which has the capacity to carry 70 passengers, and uses fuel efficiently.

The Guardian on Sunday has also learnt that the former CEO had apparently mismanaged the company’s finances, leaving behind a cash-strapped airline when he left the company at the beginning of this year.

However, The Guardian on Sunday couldn’t independently verify how much monies were lost during Kioko’s tenure, but insiders say the former CEO cost the airline dearly.
Talking to The Guardian on Sunday, the airline’s current Managing Director Sauda Rajab responded:

“Precision Air is currently involved in reviewing its five-year business plan. The plan involves massive growth in our operations and will therefore require injection of funds. Various investment options are being reviewed and once the plan has been finalized and approved by the board, we will share with various stakeholders and the public at large.

The new CEO who took over about three months ago added: “Indeed, the next five years will be exciting ones for the airline as we continue to venture channels to further position PrecisionAir as Tanzanian airline of choice.”
On reports that the airline had approached the government asking for soft loan amounting to $4 million.

Everyone thinks is a good move to get rid of Lenigas


From the TELEGRAPH ...........

FJET - Lenigas quits FastJet after latest bust-up

David Lenigas, the combative chairman of FastJet, is leaving the African start-up airline after a bust-up with its proposed new owners.

David Lenigas is understood to have fallen out with the Swiss investors poised to complete a £175m deal to buy Lonrho, which own around 47pc of FastJet.

Mr Lenigas, whose leadership of FastJet has seen the shares collapse by three-quarters in a year, has decided to quit before he was pushed.

He is understood to have fallen out with the Swiss investors poised to complete a £175m deal to buy Lonrho, the Africa-focused conglomerate that owns around 47pc of FastJet.

Mr Lenigas’s stewardship of FastJet, which is backed by easyJet founder Sir Stelios Haji-Ioannou, has been punctuated by regular fundraisings and a spectacular fall-out with Don Smith, the founder of FastJet’s Kenyan wing Fly540 Kenya.

While the pair came to a recent truce, the £4.4m legal row triggered threats of repossessing aircraft, expletive-ridden email exchanges and an attempt by Mr Smith to calm down Mr Lenigas with the phrase: “Mate, I think you need to take a chill pill.”

Mr Lenigas, a former executive chairman of Lonhro, oversaw the deal that created FastJet via a £55m all-share deal. It involved Lonhrho’s aviation wing, Fly540, reversing into the Aim-listed Rubicon Diversified Investments at 4.8p a share.

The shares closed at 1.23p last night, up 0.01, valuing the business at £29.9m.

Mr Lenigas subsequently quit to join FastJet, which earlier this month disclosed that it has made a post-tax loss of $56m (£37m) in its latest financial year and had its accounts qualified by its auditors.

Last month Lonrho said it had agreed a takeover by FS Africa, a newly incorporated company controlled by multi-millionaire Swiss investors Rainer-Marc Frey and Thomas Schmidheiny.

FastJet's chief executive Ed Winter is taking over as chairman on an interim basis. He thanked Mr Lenigas for his "significant contribution".

Mr Lenigas said: "This is a time of transition for FastJet both operationally and in terms of shareholder structure as its major shareholder, Lonrho, is likely to have a new owner in the coming weeks as a result of the current offer for Lonrho. It therefore seems to be a good time for me to step down to pursue my other interests and hand over the reins."

re - Look at the upper tail on the candle......
re - Youve been given another days grace, but dont say I didnt warn you,

finger

maybe someone should admit .... that I got this wrong,

it went to 1.50p again this morning, clever clocks get it wrong most of the time I would say.

so once again finger UP yours, no need for your WRONG advise as usual.

So lets get this right weve gone from 4.6p down to 1.3p in just a few months.

Are you sure your not on hallucination drugs?.

Like ive said all along the wide boys on advfn are playing with this one all day.

First going long then shorting it later into the day.

At some point they will get fed up and dump it.

Look at the chart you muppet.

Well well, looks like for the 3rd day history repeating itself.

DOWN.

ohhhhh dear i wonder whats happening here.

Down over 8% and accelerating.

Yikes skinny.

Timing!

Fastjet upbeat despite director exit

Fastjet (FJET) on Tuesday claimed its aim to become Africa's first low-cost carrier was "well on its way to becoming a reality" as it revealed its passenger statistics for May.

Fastjet Tanzania was said to have taken in excess of $1.8 million (£1.2 million) in revenue for the month, up approximately 50% compared with the start of the year. Revenue per passenger had also increased by 62% since the beginning of the year.

Yep but for a true picture about this company rather than just daily sound bites, best to look at accountable RNS delivered just 10 days ago.

Good case for analysts to make out company is not far off going bust imo.

http://www.investegate.co.uk/fastjet-plc--fjet-/rns/results-for-18-month-period-to-31-december-2012/201305311814130777G/

In fact from above RNS extraction........

The Group has operated at a loss and a significant operating cash outflow since the acquisition of Lonrho Aviation in June 2012. The Directors consider that the outlook presents significant challenges in that the Group has to achieve increased sales revenue, and control input costs. Securing international route rights out of Tanzania are also critical for the success of the Group. Uncertainty exists as to these matters.



The Group also needs to secure additional funding to ensure operations can continue for the foreseeable future. This could be achieved by raising further equity or disposing of stakes in Tanzania and Ghana.



The Group will need to raise finance, in addition to that raised though to May 2013 (see note 30), whilst all of the above issues are addressed; however, such funding has not yet been secured or committed.



Whilst the Directors have instituted measures to preserve cash and seek additional finance, these circumstances create material uncertainties over future trading and cash flows.





The Directors have concluded that the combination of these circumstances represents a material uncertainty that casts significant doubt upon the Group's ability to continue as a going concern and that, therefore, the Group may be unable to continue realising its assets and discharging its liabilities in the normal course of business

Again....

The Directors have concluded that the combination of these circumstances represents a material uncertainty that casts significant doubt upon the Group's ability to continue as a going concern and that, therefore, the Group may be unable to continue realising its assets and discharging its liabilities in the normal course of business

I wonder if the chairman walked or was pushed.

After his tweet on twitter last night (rose you saw it) id say he walked away.

Is someone spammimg?
The same posting a bit later on ADVFN maybe is hate >>>>>>>>>


mechanical trader 11 Jun'13 - 13:24 - 4141 of 4142 0 0

It ended with this extract.....
The Directors have concluded that the combination of these circumstances represents a material uncertainty that casts significant doubt upon the Group's ability to continue as a going concern and that, therefore, the Group may be unable to continue realising its assets and discharging its liabilities in the normal course of business

MRSI - now a premium payer!

and now repeating the same post for the 5th time >>>>>>>>>>>>


mechanical trader 11 Jun'13 - 14:21 - 4156 of 4201 0 2

Would you put up 20m given the board have just said......

The Directors have concluded that the combination of these circumstances represents a material uncertainty that casts significant doubt upon the Group's ability to continue as a going concern and that, therefore, the Group may be unable to continue realising its assets and discharging its liabilities in the normal course of business

no wonder everyone is Filtering ( goldfinger/mechanical trader ) at ADVFN>>>>>>>

5Jacko 11 Jun'13 - 14:33 - 4160 of 4204 0 0

mechanical trader 11 Jun'13 - 14:29 - 4159 of 4159 0 0 (Filtered)

Garbil 11 Jun'13 - 14:49 - 4173 of 4204 1 0

mechanical trader 11 Jun'13 - 14:45 - 4171 of 4172 0 0 (Filtered)

You beat me to it skinny! (plus other aliases). Amazing how he just can't stay away.

no wonder is not here very busy arguing there.

Someone is a INSANE the worse of it (she/he ) does not know yet it seems >>>>>>>


mechanical trader 11 Jun'13 - 16:26 - 4205 of 4209 1 1
Believe me rajstar if he hadnt lost
his bottle he wouldnt be posting here.

Hed be stuck with his mates, saftey in numbers
on his own mug traders thread.

TOPINFO 11 Jun'13 - 16:27 - 4206 of 4209 0 1
ha ha nice try MT but wrong again. LMAO

mechanical trader 11 Jun'13 - 16:28 - 4207 of 4209 1 1
Falling further topinfo, get your rubber
kecks on.

mechanical trader 11 Jun'13 - 16:30 - 4208 of 4209 1 1
So busy on IG taking shorts just had to
switch to phone only D Jones reports.

mondy and your point is????????????????????????????????????????

Or are we all supposed to agree with you and your bull lemmings on this stock?????????

No spam whatsoever, Ive gone short and have an opposing view to you.

Now if you cant take that I suggest you arent cut out for this business.

Nip Down Hills or Ladbrokes, that will better suit your purposes.

Well into profit for the day.

Not that it means that much on this chart, but it looks like a bearish engulfing...

Looks to me like mondy is using multiple user names.Naughty naughty.

re - mondy and your point is?

My point is nobody likes shorters and the antics of ( Evil Knivel ) but he is a saint compare with the spam you are posting at ADVFN.

I am in since 0.70p, and first time here, but live is too precious for me to do what you have been doing today at ADVFN, Maybe 50 post if not more, repeating and negative points when there are plenty of positive aswell, meaning you are vias because you are short ( saying today ).
-------------
mechanical trader = goldfinger

mechanical trader 11 Jun'13 - 19:48 - 4233 of 4286 0 1
For those who have misssed it....

KPMG CONCERNS........

Concerns over the future of fastjet

3 June 2013 | By Patrick Whyte
Auditors have expressed “significant doubt” over whether no-frills African airline fastjet could continue to trade as accounts reveal sizeable losses.


mechanical trader 11 Jun'13 - 21:18 - 4255 of 4286 0 0
he he ha ha when I get you upset
I know you are worried.
SMIRK

cygnet4 11 Jun'13 - 21:20 - 4256 of 4286 0 0
MT - what sort of sad person comes on to a BB to upset people?

pwftrotter 11 Jun'13 - 21:42 - 4272 of 4286 0 0
mechanical trader
Another tosser filtered !!!!

brando69 11 Jun'13 - 21:49 - 4275 of 4286 0 0
not sure why i'm even engaging with you to be honest, you're probably w*nking into your pot noodle tub, while typing.

for the record, 'expert shorter' Mechanical Trader shorted Northacre (NTA) all the way from around 30p to 120p... yes, he's that good.

Thanks mondy about ADVFN

For all to know

My short research shows

goldfinger..... is a hated poster on ADVFN with multiple - aliases - " trendfloor " then " mechanical trader " once he/she has been bared from different threads.
Has a disgrateful war/hate with -Tara - a poster that has open threads with shares than more than double on a very short term. ( NTA - PTO )

Anybody else yet grasped mascot = mondy??????

ohhhhh dear.

And by the way post as much as you like here from over the road, I couldnt give a jot, in fact its saving me time i have nothing to hide just placing facts down from official company RNS. You wouldnt be so defensive if you didnt realise yourself how damaging the companys recent official news is.

The more you complain the more confidence it gives me. Both of you (not), are you identical twins?.

And I dont post with two user names as per you are doing.

ps, as for supporting Tara, a bloke who posts as a women fraudulently to get the nieve male support votes, just shows what an inexperienced fool you are.

Bring it on.

Lopped the top off my profit here before close, at most can only lose to breakeven with my guranteed stop.

Not going very well is it TWINS.

Always a good sign when you see topinfo and crowd ramping a duffed up stock.

Mind I did warn you on day one.

Sickly Chart.......

Nearly re-traced 100% on the FIBONACCI chart........

Issue of Equity

In accordance with the Convertible Security Deed entered into between the Company and Bergen Global Opportunity Fund, LP ("Bergen"), the details of which were announced to the market on 8 March 2013, fastjet announces that the Company has issued 70,000,000 new ordinary shares (the "Conversion Shares") to Bergen in respect of £770,000 of the Convertible Security. The Conversion Shares rank pari passu in all respects with existing ordinary shares in fastjet. Application has been made for the Conversion Shares to be admitted to trading on AIM, which is expected to take place on 17 June 2013.

Following issue of the Conversion Shares the Company's enlarged issued share capital is 2,510,563,414 ordinary shares with voting rights. This figure of 2,510,563,414 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Fastjet announced the cancellation of the Convertible Security Deed with Bergen on 10th June. The conversion above relates to the previously issued convertible security as announced on 14 March 2013.

FIB CHART.......

http://mycharts1.webs.com/fastjet%2021.JPG

13 June 2013
fastjet signs Memorandum of Understanding with Red 1 Airways to operate in Nigeria

fastjet plc (fastjet), Africa's low-cost airline, has today signed a Memorandum of Understanding (MoU) with Nigeria's Red 1 Airways Ltd (Red 1), to create a low-cost airline operating within Nigeria and to destinations across Africa.

The MoU brings together fastjet's strong brand, reputation, management experience and economies of scale, and RED 1's extensive local market knowledge within Nigeria. The airline will be branded fastjet Nigeria.

The capital required for this venture will be the responsibility of Red 1. fastjet plc will have a minority shareholding in fastjet Nigeria. A commercial arrangement will exist between Red 1 and fastjet for the provision of the fastjet Brand, Operational Framework and Management Services. Fastjet will provide further details on the signing of binding contracts.

Since launching in Tanzania in November 2012, fastjet has established itself as a provider of safe, reliable and high quality air travel in Africa; fastjet Nigeria intends to bring this same level of service to Nigeria, the most populated country in Africa with more than 165million people.

The fastjet Nigeria management team will be led by Red 1, who will oversee day-to-day operations, while the fastjet plc management team will bring its extensive experience and expertise of the low-cost airline industry to the partnership. Operating within fastjet's growing pan-African organisation the partnership is planned to provide fastjet Nigeria with an extensive distribution network.

Commenting on today's news, fastjet CEO Ed Winter said:

"The combination of fastjet's brand and experience and Red 1's extensive knowledge of the local aviation market and Nigerian business landscape, is a perfect foundation for a great airline. The Nigerian people deserve a new airline offering great value and operating to international standards of safety and reliability."

Red 1 CEO Dikko Nwachukwu added:

"We are excited to partner with fastjet and humbled to be working on bringing Nigeria its first true Low Cost Carrier. At Red 1 our motto is "now every1 can fly" and we aim to make air travel affordable so more Nigerians can choose to travel by air. Our experienced management team has spent 10 years fine-tuning the business plan and waiting for the right opportunity to meet the increasing demand for affordable air travel in Nigeria. The time has now come to partner with fastjet and seek to provide Nigeria with a world-class low cost carrier."

Let the news make the talking ......... not the spam for shorts


Can you believe it, the ( sandwich SPAM ) has disappeared from ADVFN for the last hour and half,
most likely is due to share price rising or maybe the bullish news

--------
enjoy the reading below >>>>>>>>>>>>.

nuri123a 13 Jun'13 - 10:53 - 4468 of 4475 0 0

MT You wound Tailgunner up through an all-out use of offensive behaviour -
no doubt you won't see anything wrong in it. I do!

mechanical trader 13 Jun'13 - 13:11 - 4489 of 4574 0 0

nuri...... ignorant little man blah blah blah blah
blah blah blah blah.

You must be really hurting with the SP dropping
all the time.

My guess is that you have put your house
and the kitchen sink on this one and now
buckling under the pressure. You also using your
wifes savings.

Am I right.

nuri123a 13 Jun'13 - 13:24 - 4495 of 4497 0 0
MT:

I don't think I need answer the first question, as you are devoid of feelings. But anyway, the answer is 'no' as my partner has bunged me a lot of money.

In relation to your second point, I may have less experience than you, but as an Econ graduate, I learnt the number 1 rule of investing, never bet more than you can afford to lose.

In relation to your third point... I am gay... no wife I am afraid and no children = high disposible income.

In relation to all of your assumptions... wrong... on all of them. In fact, you are doing me a favour in making that bargain look better every hour. You go at it. Silver cloud or two in every lining.

So, go on ahead, keep shorting. One day you may find only loose change in your pocket, and if you treat others the way you treat some people on here, you may not have too many friends to turn to.


mechanical trader 13 Jun'13 - 13:46 - 4502 of 4573 0 0
Strange that as I have a PHD in Economics... Manchester (london Road) and I cant recall anything whatsoever on them lines. I also worked for shore capital as resources Cheif Economist.

Perhaphs its because they are making exams
easier to pass these days.

As for my character you are miles off.

I work voluntary online 10 hrs per week for a
charity as an adviser for disabled and ill people
wanting advice on Support and Benefit law. I used to
be a civil servant working as Regional Financial
Director.

Next point I dont need to know that you are gay
I treat everybody with equal respect.

As for loose change in my pocket Ive just
bought a new house outright for £7 million,
i sold my previous one for £9 million and have
a large busines empire so I dont think
ill ever be short of a bob or two.

And yes mcpaulus was right I am a grumpy
yorkshire man (harry hows your cat?) but dont
ever suggest I dont have any compassion
for my fellow man.

I just dont think you are cut out for this
business having listened to you for the last
few days.

Honestly bud Id think about looking elsewhere.

mechanical trader 13 Jun'13 - 13:59 - 4511 of 4569 0 0

Thats the BIG BIG problem. Whilst you all wait,
think of the cash burn each day.

That departing chairman was right..
it all comes down to the Swiss and if
they will stump up.

Come to think of it you might all regret
that guy resigning. He may have been the
key to that finance?.


mechanical trader 13 Jun'13 - 14:17 - 4523 of 4569 0 0
Mikes... I suggest I G index. Go right
down to companys with £10m market cap.

About 6 0thers aswel.

I have 2 brokers who allow it who dont
cover in the market, but they charge more.

mechanical trader 13 Jun'13 - 14:20 - 4524 of 4569 0 0
Yorgi just think what the companys creditors will
be thinking having seen that link.

Calling in may be an option for some imo.

Very risky will want to be at front of que.

hmmmmm so the Swiss are now out of the frame is that correct other than their holding.

fastjet plc will have a minority shareholding in fastjet Nigeria. A commercial arrangement will exist between Red 1 and fastjet for the provision of the fastjet Brand, Operational Framework and Management Services. Fastjet will provide further details on the signing of binding contra.

Now that will be very interesting.

A minority holding...... so how long to break even.

Looks like a poor deal to me compared to what was on the table previously.

Do we smell desperation?

Mondy read the 'talk to yourself thread' your one of the ex advners we were talking about last night.

Your childish copying of posts from advfn wont please the money am management who used to and may still do dislike posts from that board being placed here.

Dont forget advfn started blocking out all money am posts on their board, their was talk of hostile relationships between management of each board according to tipster robbie Burns.

But please go ahead if you want to chance it, like I said before I dont give a jot.

Back to the subject, it will be interesting to see just how dilutive this deal is for long term FJET holders.

Would probably have been better waiting for the Swiss.

Yeb

ALWAYSSKINNY LOL! LOL!

A bit late but busy during the day, but what a supper susprise the news and turnaround on the share price.
Have you notice the RNS they seem to be coming thick and fast.

For anyone who is interested.
http://www.red1x.com/about/company/

forgotten to say, someone tone of posting has change, maybe the big riches expected, have turn into loses already.
And more to come if those shorts are not close in time.

good night

Dont think so I locked in gains, by the way reported you to 'Talk To Yourself Thread'
as advfn incomer causing trouble.

See you bud.

MRSI - I guess the olive box was meant to contain this!

fastjet Secures International Route Approvals

fastjet has been granted permission to launch international flights from Tanzania to South Africa, Zambia and Rwanda marking a major step towards establishing the first-ever pan-African low-cost network.

These route approvals have been granted by the relevant Governments under the Bilateral Air Services Agreements (BASAs) between Tanzania and the other countries.

Issue of Equity & £15m Equity Finance Facility

Further to the Company's announcement on 6th December 2012, fastjet (AIM:FJET) is pleased to announce that it has raised £1,127,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").

Be careful skinny if you are long here.

I was given something in confidence yesterday evening.

Hope it was a brain transplant? Out of order making comments like that gf.

No Im not Chris. I was given it in confidence. I am not breaking any rules etc etc. It is just speculation at the moment but it seems strange that selling action on the market today in light of bullish news on 2 RNS, saw the SP as flat on the day.

How would you account for that?.

And the post is meant for everyone not just skinny.

gf - If you had said "I was given something in confidence yesterday evening. BUT it is just speculation" then fair enough mate. You didn't say that. Pretty sure skinny is more than capable of making his own mind up either way.

Chris far better that I give my mates on here (and I include you even tho weve had pops at each other over politics of late) the nod rather than let you get done.

Dont forget the City itself and Bankers are corrupt with insider knowledge etc etc.

Its time the PI was given some advantage.

And I dont have a position at the moment but will soon.

Yep fair enough, its 3rd party anyway but I think it could be true.

We will have to see.

3rd party and you only think it could be true? So why bother. De-Ramping a share is just as bad as Ramping a share don't you agree? I'm not trading it either by the way, but that's not the point.

If it turns out to be true it wont be de-ramping will it chris. Anyway if that s the general attitude fair enough I wont bother trying to save pals on here money Ill just keep it to myself along with juicy gossip on the bull side. Ill just e-mail it to a selected few.

So from now on its schtum.

No need to throw your dolly out the pram mate :O) Just thought with your dire warnings against ADVFN posters coming over to MAM and the consequences that you percieved would happen. It was a tiny bit hypocritical to make that remark above. I still love ya :O)

Get a room you two! :-)

I'm quite capable of losing money all by myself thanks - joking apart, I've had a small flutter with 500 quid @0.71p.

Decide to call it a day here.

Genuine bloke on advfn points out how it could develop the country for the poor etc etc.

Thats a good thing and something id want although I still think the management here are very poor and overpaid.

Fingers crossed they get lucky and help the poor of Africa.

Issue of Equity
fastjet (AIM:FJET) is pleased to announce that it has raised £1,099,890 via a draw down on its Equity Financing Facility with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").

Under the terms of the EFF agreement the Company raised gross proceeds of £1,099,890 by way of the issue of 108,900,000 shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued at a gross price of 1.01p per share and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

FastJet Passenger Statistics for June 2013

Ed Winter, Chief Executive Officer of fastjet said: "We continue to grow in popularity, performance and revenue. As reported recently, June revenue in Tanzania exceeded $2.2m, which is a 22% increase on the previous month. Fastjet load factors for the month grew from 68% to 78%, with yield per seat also growing substantially.

Also as previously announced, in June fastjet carried its 200,000th paying passenger including infants.

Additionally we can announce that we have today received our Foreign Operator Permit from the South African Department of Transport. This means that the final administrative hurdle has been overcome so are confident that the important and popular Dar es Salaam to Johannesburg route will be on sale soon.

We believe we are well on the way to becoming the first pan African low cost carrier."

Ramping /De-Ramping.

someone comes to mind ::::::::::::: > goldfinger


To help you to spot a basher here are a few things to look out for:

1. Relentless by nature, always ready to step in and dumb down the discussion, they need to talk at their level;

2. Repetitive posts, bashers are commonly not very intelligent or imaginative in their work, that?s because they are not very intelligent or imaginative themselves so no surprise there;

3. Dismissive of every positive perspective, however rational because allowing any positive argument to develop exposes their position;

4. Egotistical patronising style, self-value is vital for a basher when nobody else values you;

5. Offering few investing ideas in return, as that would expose them to criticism;

6. Disappearing when good news released by a company or the share price is in a strong upward move, but filling the gaps in between with negative rhetoric to hit investors at their weakest.

Issue of Equity

fastjet (AIM:FJET) is pleased to announce that it has raised £790,000 via a draw down on its Equity Financing Facility with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").

Under the terms of the EFF agreement the Company raised gross proceeds of £790,000 by way of the issue of 79,000,000 shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Application has been made to the London Stock Exchange for a total of 79,000,000 ordinary shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 11 July 2013 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise of 2,876,138,414 ordinary shares with voting rights. This figure of 2,876,138,414 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

Looks like they are drawing around £1m every three weeks from their debt facility. Must a lot of new shares sloshing around in the system.

Yep - could end up being another 'death by dilution' for small shareholders.

Issue of Equity

fastjet, Africa's low cost airline, is pleased to announce that owner and licensor of the fastjet brand, easyGroup Holdings Ltd, the private investment vehicle of Sir Stelios Haji-Ioannou, has elected to take newly issued fastjet shares in lieu of all royalty and consultancy payments due to easyGroup up to 31st December 2013.

These payments relate to the Brand Licence agreement announced on 9 May 2012. Following this transaction, 110,334,156 newly issued fastjet shares at 1p will be issued to easyGroup thereby increasing easyGroup's holding in fastjet from under 3% to 5.81%. The remaining terms of the agreement are unaltered.

Application will be made to the London Stock Exchange for a total of 110,334,156 ordinary shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in the new Shares will commence on 30 July 2013 ("Admission"). Following Admission, the Company's enlarged issued share capital will comprise of 2,986,472,570 ordinary shares with voting rights. This figure of 2,986,472,570 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Update on fastjet's international route

fastjet, Africa's first low-cost carrier, is delighted to announce that tickets for its first international route, between Tanzania and South Africa, will go on sale this week. Flights from fastjet's hub in Dar es Salaam to Johannesburg will be available to purchase from 31st July with fares as low as USD$100 (plus government taxes and charges), substantially cheaper than the alternative carrier. fastjet's facebook 'friends' will get first option to book flights on 31st July and seats will go on general release the following day, 1st August.

Initially, flights on the route will operate 3 times a week and the first flight is scheduled for 27th September. However, as demand for seats on fastjet's signature Airbus A319s is expected to be high, the Company intends to increase the frequency of flights in line with market demand. The airline expects to add further international destinations including Lusaka, Zambia, to its flying program in the near future.

Operational Update - July Results

Ahead of the release of its monthly passenger statistics, fastjet, Africa's low cost airline, is delighted to report a strong trading month for July 2013 in Tanzania, continuing the trend of month-on-month revenue increases.

Passenger revenue for July 2013 was over USD$2.5 million, which represents a revenue increase of over 10% against the previous month, and a USD$700,000 increase since May 2013.

The figures can be attributed to a jump in passenger volumes on existing routes, the successful reintroduction of the Kilimanjaro to Zanzibar route and a 17 per cent increase in ancillary revenues*. We are particularly pleased with these results given the fact that Ramadan, a period when travel and business activity traditionally reduces, fell over the last 21 days of the month.

On July 31st, fastjet launched ticket sales for the long-awaited international route between Dar es Salaam and Johannesburg. Initially, flights on the route will operate 3 times a week and the first flight is scheduled for 27th September. However, as demand for seats on fastjet's signature Airbus A319s is expected to be high, the Company intends to increase the frequency of flights in line with market demand. This is expected to be the first of a number of international routes that fastjet has applied for.

Beaufort Securities Speculative Buy 1.05 - - Reiterates

A bit of a tick up with volume.

Plenty of tick up and later on the day volume reaching 120M

there was a couple of trades a couple minutes after close paying 1.30p, when the offer price was 1.25p

AIM-listed stocks become eligible for inclusion in sharedealing ISA accounts from Monday morning. If this rise is sustained come Monday, anyone who previously decided to wait till then before buying into FJET is going to be more than a little miffed at missing today's surge.

I am miffed anyway as I was churning this around the same time as I got a few coms but being put off somewhat by some background noise - still time I suppose, extremely well done to those who took the plunge before the rise.

I don't understand why you would want to put a stock like this in an ISA. It is a high risk punt stock which has already lost 75% of it's value over the last 8 months. It's very unlikely, imo, that any PI is going to invest heavily here, so the amount of profit you could make is going to be small and isn't going to affect your CGT by much, particularly if it is already offset by the loss. If you are investing heavily here through a stock ISA and you lose your money, you will have to wait for the next tax year before you can access further cash.

Harry - it depends on the size of your ISA :-)

I thought we'd agreed that size wasn't everything?!!! ;o)

This is true!

Notice of GM and Proposed Share Reorganisation

From the announcement.

"As a consequence of the Reorganisation each Shareholder's holding of New Ordinary Shares will (ignoring fractional entitlements) immediately following the Reorganisation becoming effective be one tenth of the number of Existing Ordinary Shares held by them on the Record Date (being 5pm on the day of the General meeting). However each Shareholder's proportionate interest in the Company's issued ordinary share capital will remain unchanged as a result of the proposed Reorganisation.

The New Ordinary Shares will continue to carry the same rights as attached to the Existing Ordinary Shares.

The last day of trading on AIM in the Existing Ordinary Shares is expected to be 19 August 2013."

FastJet Passenger Statistics for July 2013

fastjet, Africa's low cost airline, is pleased to announce a 40 per cent increase in overall passenger numbers in July 2013 compared with July 2012. Passengers on the combined Fly540 and fastjet fleets totaled 84,362, surpassing expectations for this time of the year. In Tanzania, the Company saw a 14 per cent increase in the number of fastjet passengers, compared to the previous month.

bought in here today - bottom drawer leave for 12 mths and see where we are
like the easyjet connection
gla

I bought in here today also, graph starting to look more positive so had a dabble.

Statement re: Closure of Jomo Kenyatta Airport

The Company notes news reports regarding the closure of Jomo Kenyatta airport, in Nairobi, Kenya due to a fire, reported to be in the terminal building.

The fly540 Kenya operation from Nairobi is therefore presently suspended. The Company is not aware of any injuries or casualties amongst its passengers or staff. The safety of passengers and employees remains fastjet's top priority. Once the extent of the damage to the airport facilities is clear the Company intends to implement a plan to resume operations as soon as possible.

Other operations, including those in neighboring Tanzania are not affected by this closure, and indeed may benefit to some degree from international passengers routing through Dar es Salaam rather than Nairobi in response to the closure.

The Company will provide a further update in due course.

Nairobi fire an unexpected bonus for fjet today - just hope no one was hurt or injured in it
business wise should benefit fjet

Short term it will be a loss of revenue and therefore a reduction in profit. Long term, any benefit escapes me, but I am sure someone will enlighten me!

fire - nope other airlines will be diverted through fjet at other airports in the short term at least

& they don't make 'em like they used to..... http://www.youtube.com/watch?v=kn15BUFBvu8

Resumption of Fly540 Kenya Flights

Resumption of Fly540 Kenya flights

Following the fire in Nairobi at Jomo Kenyatta Airport yesterday morning we are pleased to announce that Fly540 Kenya flights resumed yesterday evening with two flights departing Nairobi for Mombasa and Kisumu. We expect to operate a full schedule today

Bought in today looks good long term..

FastJet to soon open new domestic and international routes

http://www.proactiveinvestors.co.uk/companies/stocktube/2137/fastjet-too-soon-open-new-domestic-and-international-routes--2137.html

ditto was already in - looks good short & long term

Topped up here 96 to buy 96 to sell..

Fastjet in discussions about more international routes

August 16 2013, 8:41am Low cost African carrier Fastjet (LON:FJET) reported a 40% year-on-year increase in passenger numbers last month (July),


http://www.proactiveinvestors.co.uk/companies/news/60100/qa-fastjet-looking-for-more-international-routes-60100.html

Stock Tube

http://www.frequency.com/video/fastjet-to-soon-open-new-domestic/113267760/-/5-2304

yep I am very comfortable with my holding here gl

Issue of Equity

fastjet (AIM:FJET) is pleased to announce that it has raised £1,612,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Capital ("Henderson").

Under the terms of the EFF agreement the Company raised gross proceeds of £1,612,000 by way of the issue of 161,200,000 shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Application has been made to the London Stock Exchange for a total of 16,120,000 ordinary shares of 1p each to be admitted to trading on AIM based on the the proposed consolidation and sub division of share capital being approved at the Extraordinary General Meeting today. It is expected that the admission will become effective and that trading in the new shares will commence on 22 August 2013 ("Admission").

- ENDS -

Result of GM and Capital Reorganisation

fastjet (AIM:FJET) is pleased to announce that the resolutions put to shareholders at the Company's General Meeting held earlier today were duly passed.

Capital Reorganisation

The reorganisation of share capital will therefore become effective. Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealing in the New Ordinary Shares is expected to commence on 8:00 a.m. on Tuesday 20 August 2013 with ISIN GB00BCW3PK51.

The General Meeting was convened pursuant to the notice of general meeting and proposed reorganisation of share capital (the "Circular") posted to shareholders on 2 August 2013, which is available from the Company's website, www.fastjet.com. Defined terms used in this announcement have the meanings given in this Circular.

- ENDS -

Another piece from Atino or courtesy of who amongst over things is a good researcher from the other side..

http://www.dradio.de/dlf/sendungen/wirtschaftammittag/2221113/

A bit of a rise today pre tomorrows consolidation..

yes - but a bit of a drop today??

As sure as days follows night....

Up 780%. I knew I should have bought some....!!!!!! ;o)

"Result of General Meeting & Capital Reorganisation

fastjet (AIM:FJET) is pleased to announce that the resolutions put to shareholders at the Company's General Meeting held earlier today were duly passed.

Capital Reorganisation

The reorganisation of share capital will therefore become effective. Application has been made for the New Ordinary Shares to be admitted to trading on AIM. Dealing in the New Ordinary Shares is expected to commence on 8:00 a.m. on Tuesday 20 August 2013."

Proposed reorganisation
Although the mid-market price of Ordinary Shares as at the close of business on 2 August 2013 was 1.28p, the Ordinary Shares have in recent months frequently been trading on AIM at a price below their nominal value of 1p per share. The issue of new shares by a UK company at a price below their nominal value is prohibited by UK company law and accordingly the ability of the Company to raise funds by way of the issue of further equity has been inhibited.

The Company needs to raise funds in the near future in order to drive its medium and longer-term expansion, as well as for its short-term working capital. It is essential that the Company has the ability to raise additional funds to continue its on-going business.

As stated in the Company's 2012 Report and Accounts, fastjet is looking at different ways to restructure legacy Fly 540 loss-making parts of its business. An announcement will be made in due course, once those plans have been finalised.

Accordingly the Directors are seeking Shareholders' authority to implement the Reorganisation to create a differential between the nominal value of the Ordinary Shares and their market price to facilitate future share issues.

In addition the share price levels at which the Ordinary Shares have recently traded means that small absolute movements in the share price represent large percentage movements, resulting in share price volatility. In addition, the Directors believe that the bid offer spread at these price levels can be disproportionate, to the detriment of Shareholders. Accordingly the Reorganisation will also have the effect of a consolidation of the Ordinary Shares on a one for ten basis.

Details of the proposed Reorganisation and the proposed amendments to the Articles are set out below.

Share Capital Reorganisation
As at 1 August 2013, being the latest practicable date prior to the publication of this document, the total issued share capital of the Company was £29,864,725.70 divided into 2,986,472,570 Existing Ordinary Shares. As announced by the Company on 31 July 2013 application has been made to the London Stock Exchange for a total of 66,000,000 Ordinary Shares to be admitted to trading on AIM. It is expected that the Admission of these Ordinary Shares will become effective and that trading in the new shares will commence on 5 August 2013. Following the Admission of these Ordinary Shares, the Company's enlarged issued share capital will comprise of 3,052,472,570 Ordinary Shares.

It is proposed that the following steps shall be taken in relation to the Company's share capital to effect the Reorganisation:

(a) the Existing Ordinary Shares of 1 pence will be consolidated on the basis of one Interim Ordinary Share of 10 pence each for every 10 Existing Ordinary Shares; and

(b) immediately following such consolidation each Interim Ordinary Share will be subdivided and converted into one New Ordinary Share of 1 pence and one B Deferred Share of 9 pence each.

Ordinary Shares
As a consequence of the Reorganisation each Shareholder's holding of New Ordinary Shares will (ignoring fractional entitlements) immediately following the Reorganisation becoming effective be one tenth of the number of Existing Ordinary Shares held by them on the Record Date (being 5pm on the day of the General meeting). However each Shareholder's proportionate interest in the Company's issued ordinary share capital will remain unchanged as a result of the proposed Reorganisation.

lol H

seems to be recovering again now

can it pull out of what might be a fatal tailspin?

sp 6.4p .....still diving!

Was sooooooo tempting to have a punt on this stock based on nothing but the assumption that it had reached the bottom and the only way was up! Sooooooooooo glad I didn't.

RNS Lonrho shareholding diluted to 36%

Classic post consolidation drop in the sp.
2517

should be a very red day here after todays rns

Fastjet CEO Ed Winter shares his plans for low-cost air travel in Africa

http://www.howwemadeitinafrica.com/fastjet-ceo-ed-winter-shares-his-plans-for-low-cost-air-travel-in-africa/30083/

sp 4.4p parachutes at the ready!

Appears today that Fastjet seems to be bouncing off the 50MA presently at 4.27p as long as this stock doesn't close below this level then this can move back up from here, any close below this points towards the 100MA down at 3.38p

fastjet Passenger Statistics for August 2013

sp down a further 6% somebody is dumping, is it Lonrho?

Some large trades and volume today as the MMs have push prices higher at 1pm, has been holding on the up as mixed trades are now going on.
Those large trades could be the overhang being cleared

5.67p +1.00p

The turnaround has been very strong since yesterday, with today's volume almost as large as yesterday in less than 2 hours of trading

Has broken from the previous intraday high today 5.925p and spiked to 6.45p
a huge volume on the half day mark 41M

Went over 7p earlier, now just there and 51% rise

Stmnt re Share Price Movement

The Company notes the movement in the market price of its ordinary shares and confirms that it is not aware of any reason for this movement

Up 53.5% on decent volume.

AFTER YESTERDAY'S profit taking, today is the turn around and now breaking the 7p mark, important as it tried a few times since yesterday, before the break now

Interim Results

HIGHLIGHTS
· First-half underlying EBIT loss $24.9m including US$13.3m trading losses in the Tanzanian operation.

· Tanzanian operation reported quarterly EBIT loss of US$9.1m in Q1 and US$4.2m in Q2 - a 54% reduction quarter on quarter.

· Net cash at 30th June 2013 was $4.4m. Subsequent to this $9.3m (gross) has been raised via equity issuance.

· fastjet Tanzania achieved US$81 revenue per passenger in June - almost double January's achieved rate of US$46.

· Tanzanian operation is now profitable on an underlying route level basis; and based on current performance once scale increases with additional routes and fully utilised resources the business is expected to become profitable at the EBIT level.

· Growing endorsement of the fastjet brand and low cost airline model by Tanzanian consumers

· Launch of the first international route, from Dar-es-Salaam to Johannesburg is expected imminently, with others planned in the near future.

· Development of an Airline Management Services organisation, enabling the fastjet brand to be rolled-out more rapidly across Africa; reducing shareholder risk and minimising capital requirements is underway.

· Restructuring of the legacy Fly540 businesses progressing well; further progress will be reported in due course; a further $5.7m of goodwill and intangible assets, and $8.8m of investments written down in the period.

Still here I missed the last low waiting to top up.

South African upgrades, Fastjet turns to cargo

http://www.aircargoworld.com/Air-Cargo-News/2013/09/south-african-upgrades-fastjet-turns-to-cargo/3015414

Since yesterday looks like it wants to change direction again after the recent retracement
All buying earlier on

5 days chart

StockMarketWire.com
Africa low-cost airline fastjet has raised £1,250,000 via a draw down on its equity financing facility with Darwin Strategic Limited, a majority owned subsidiary of Henderson Global Investors Volantis Capital.

Under the terms of the EFF agreement the company raised gross proceeds of £1,250,000 through the issue of 20,833,333 shares at 6p apiece.

very good opportunity right now imo - gla

gibby

I agree had a small top up today still early days..

The financing method could be a bit better going by todays fall though.

yep not a preferred method just a means to an end

expect a bounce next week - nice 5M + buy end of day

Well oversold the only place this is going is up.

10p again within weeks!

Fastjet confirms date for international flight

fastjet, Africa's first low cost airline, is pleased to announce that it will commence international flight operations on Friday 18th October. The airline's first international flight, from Dar es Salaam's Julius Nyerere International Airport in Tanzania to Johannesburg's O.R. Tambo International Airport in South Africa, is scheduled to depart at 09h15 on Friday morning and will arrive in South Africa at 11h45, local time. Flights between the two cities will initially be operated by fastjet three times a week on Mondays, Wednesdays and Fridays, increasing in frequency as soon as consumer demand dictates.

Some Pi's got there head in a spin.
Good buying Opp..

just topped up @ 4.20 but showing as a sell, why?

Perhaps trying to give you a hint? ;o)

you could be right hc only time will tell.

a sort of a bounce from lows of the day, as buying got on the way, but suddenly the bid is marked down ( MMs games ) to stop the buying going on further.
a 85K buy paid premium 5.40p offer at 5.35p

Sp finished sub 4p.

Topped up at 4p hope this is the bottom..

Passenger Statistics and Operational Update

hmmmmmmm The decrease in load factor, from 84% in August to 76% in September, was driven by an increase in capacity on the Dar es Salaam to Mwanza route, as fastjet introduced additional flights following the approval of night operations at Mwanza airport.'

'As expected, fastjet operations in Tanzania showed a small decrease in passenger numbers, 2% from 33,079 to 32,387'

forgive the pun, are we starting to take off.

Happy to hold here Av 7.8p fjet is looking a lot healthier now than the last few days’ weeks hopefully we should now start to see the recovery of the sp..

Further bounce today, looks like the MMs wanted a double botton on the stock

naturally is very bullish the D B

taxiing to take off position :-0

Well we have take off. Flight left on time. Let's hope the share price takes off with it.

.....so the aircraft is currently struggling to reach altitude and the pilot is confronted by a decision to either return to base or ditch!

lol harry - cockpit warning light - plane circling and making a decision on dumping fuel first before attempting a landing................

RNS Lonrho reduces shareholding to 22.82%

RNS Lonrho baling out sold another 5 million shares.

well bouncing off this mornings lows - seems bottom has been reached and coming back up - trending north strongly now = blue end to the day

yeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

"....seems bottom has been reached...." Not sure how you conclude that? And there are another 6 hours trading today, so the "blue end" is optimistic, imo. I assume you are trading rather than investing, so hope you make money, but as an investment, this is seriously underperforming!

HARRYCAT

I agree this has been a bit crap, been topping on way down Av now 7.5 should have waited, Still see a ten bagger here long term.

First fastjet flight takes off to Mbeya

First fastjet flight takes off to Mbeya

fastjet, Africa's low cost airline, announces that its first flight from Dar es Salaam to Mbeya in south west Tanzania departed on schedule this morning. Mbeya is the fifth Tanzanian destination in the fastjet network, which already includes Dar es Salaam, Mwanza, Kilimanjaro and Zanzibar.

This new route enables fastjet to provide affordable fares to the people of Mbeya, a city located close to Tanzania's borders with Zambia and Malawi. The recently opened Songwe Airport, 10km outside Mbeya, has now been upgraded to accommodate jet aircraft, enabling fastjet to commence services to and from this important, densely populated region. Bookings on the new route are extremely strong with passenger loads of over 90% on the first day's flights.

Following the recent launch of fastjet's Dar es Salaam to Johannesburg service, today's flight marks another significant milestone in the expansion of the fastjet network. fastjet now offers over 45,000 seats on more than 300 flights per month and expects to add Lusaka in Zambia to its network in the near future.

Expanding at a good pace will be adding today fjet is looking very cheap now.

Fastjet now offers over 45,000 seats on more than 300 flights per month and expects to add Lusaka in Zambia to its network in the near future.

Some bullish news today as the price move forward since yesterday

3.75p +0.15p

12th November 2013 - fastjet sees strong demand for its new domestic route.

Additional flights added to schedule
fastjet, Africa's low cost airline, is pleased to announce that it is increasing capacity on the newly launched Dar es Salaam to Mbeya (Songwe) route in response to very high demand from its customers.

From 24(th) November a Sunday flight will be added to the existing timetable, and from 17(th) December fastjet will be operating an additional three flights per week, bringing the total number of flights per week between the two cities to seven. Tickets for additional flights will go on sale today.

The route, which was launched on the 1(st) November, has to date achieved an average load factor of 97.5%.with a number of flights selling-out completely.
Commenting on the success of the route, Richard Bodin, Chief Commercial Officer of fastjet said:

"We are thrilled with the response to the launch of the Dar es Salaam to Mbeya route. Although we knew demand for the route was likely to be high, initial passenger numbers have certainly exceeded expectations. We are delighted to be able to once again meet our customers' needs and add more capacity to this popular route.

We are seeing solid demand for our recently launched international route from Dar es Salaam to Johannesburg and are currently looking at increasing capacity on this route."

time to buy? 3p!

Holdings in Company

The Company notifies that, it has been informed that, Lonrho Limited through Lonrho Africa (Holdings) Limited has today sold its entire holding of 52,359,745 ordinary shares in the Company at a price of 2.85 pence per share. Consequently Lonrho no longer has an interest in the share capital of the Company.

There's only one way to go now that Lonrho have gone and that is up. Good riddence

rapidly reaching the end of the runway, either the wheels are about to fall off or they will soar into the bright blue sky!!

fastjet Passenger Statistics for October 2013

fastjet Plc is pleased to announce its passenger statistics for the month of October 2013. fastjet operations in Tanzania carried a record total of 33,778 passengers achieving an average load factor of 70 per cent, despite a 14 per cent increase in capacity.

Ancillary revenue (from baggage, ticket changes and in-flight retail) accounted for over 10 per cent of total revenues (up from 7 per cent in June) and continues to grow rapidly. Following the recent introduction of fastjet's first international route linking Dar es Salaam and Johannesburg, cargo revenues are also expected to grow significantly.

Yet the sp still heading down, not in these but have watched from the sidelines since before their consolidation, what a disaster (so far) for holders.
2517

Fastjet Tanzania appoints four new Directors

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet, said: "I am delighted we have two such prominent members of the Tanzanian business community joining fastjet's Tanzanian Board. Ami Mpungwe and Lawrence Masha bring a wealth of knowledge and experience of the African, and specifically Tanzanian, business and political landscape. We look forward to working with them to continue to build our increasingly successful airline. We are proud of the fact that fastjet has helped both democratize air travel and improve the quality of aviation in Tanzania. We employ a growing Tanzanian workforce - indeed we are currently looking to recruit an additional 15 East African pilots - and the people of Tanzania have repeatedly expressed their whole-hearted support. The appointment of two such prominent Non-Executive Directors is further testament to our commitment to Tanzania.

"This is a very positive time for fastjet. As recently announced, we have recently started operating internationally with our route linking Dar es Salaam and Johannesburg and the newly-launched Dar es Salaam to Mbeya route has been so successful that we have rapidly added extra capacity to meet demand."

http://www.moneyam.com/action/news/showArticle?id=4714228

fastjet launches second international route to Lusaka; celebrates one year anniversary

fastjet, Africa's low cost airline, is delighted to announce the launch of its second international route from Dar es Salaam, Tanzania to Lusaka, Zambia. Today's launch coincides with celebrations marking one year of successful flight operations from fastjet's main hub at Dar es Salaam's Julius Nyerere airport in Tanzania.

http://www.moneyam.com/action/news/showArticle?id=4715034

3.05p +0.20p

had a spike since .............

Equity Devs issued a report this morning. admittedly paid for research, but with an 8.5p target with subject to's:-

Critics laughed at Stelios Haji-Ioannou and Michael O'Reilly when they
founded budget airlines, Easyjet and Ryanair 2-3 decades ago. Together
these two low cost carriers (LCC) are now worth over £10bn.

fastjet is attempting the same feat in sub-Saharan Africa, a continent
bristling with 'lion' economies and an expanding middle class, but burdened
by high airfares and poor transport systems.

 From a standing start 12 months ago, the firm has already proved the
LCC model works in Tanzania. The next task is to drive the Tanzanian
unit to profitability (est Q3'14), and then rollout services across South
Africa (Q3'14) and Kenya (Q4'15). Here it intends to own equity stakes of
25% and 49% respectively, and provide Airline Management Services
(AMS). By 2018, the 'enlarged' fastjet group is forecast to carry 5.8m
passengers, using a fleet of 23 (A320 family) jets, up from 3 today.

 We believe this ambitious plan is feasible, since there is enormous pent
up demand in the region. In October fastjet flew a record 33,778
passengers, achieving a load factor of 70%, despite increasing capacity by
14% in the month. Ancillary revenue also soared to 10% of sales, while in
June average fares jumped 76% to $81/seat from $46 in January.
Currently, bookings across the entire fastjet network look strong
and early indicators point to a successful festive season.

 For those countries (eg Nigeria) where no direct ownership is envisaged,
the Board aims to license its brand and provide LCC expertise under its
AMS division. Delivering rapid geographical expansion at minimal cost.

 With regards to funding, a short term 'equity' facility is presently being
provided by Darwin Strategic (subsidiary of Henderson Global). We expect
another $5m to be drawn-down under this arrangement, until longer term
finance (est $15m) is put in place after the group has restructured (mid
2014) its Fly540 'turbo-prop' business - which was injected into the group
by Lonrho in July 2012 in exchange for 115.8m shares.

Part of the recent price weakness has been caused by Lonrho dumping its
entire stake (or c.2.5m/day) on to the market. This overhang was cleared on
14th November. Our target price has been set at 8.5p/share, based on a
21% discount rate and assuming suitable funding is available.

hxxp://www.equitydevelopment.co.uk/doc/1144.pdf

Since the Lonhro stake sale the shares seem to have stop falling and going side ways till the last couple days

Pokerchips
Posts: 136
Observation
Opinion: No Opinion
Price: 2.73
Ed Winter - chat highlightsToday 12:00I picked out these highlights......

"We are in ongoing discussions to fly to Uganda and we hope to confirm flights there soon.Discussions about a route to Entebbe are well advanced and we will bring more news about this route very soon."

"Flights to Kenya are very much in our future plans.We are negotiating to start flights to Nairobi but as you say we are experiencing some resistance.540 Kenya still continues to operate smaller aircraft for the moment.
We very much hope to be operating to Nairobi early next year subject to government approval.Dar to Nairobi is also subject to government approval "

"Plans are well advanced in South Africa and we are aiming to launch next year with a comprehensive route network.Discussions are well advanced on our South Africa operations,"

"We don't have any vacancies for cabin crew at present but we do invite cabin crew applications via our website"

"Zimbabwe route?Flights to Harare are certainly in our plans"

"Fastjet marketing currently features on 2 popular radio stations in the Johannesburg metropolitan area, in addition to this we have undertaken extensive PR and continue to grow our large social media following to ensure visibility in South Africa. As we grow bigger this will be ramped up even further"

"The directors of Fastjet are totally confident in our ability to fund the ongoing expansion of the airline

Issue of Equity

fastjet (AIM:FJET) is pleased to announce that it has raised £1,332,800 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin").

Under the terms of the EFF agreement the Company raised gross proceeds of £1,332,800 by way of the issue of 47,600,000 ordinary shares of 1 pence ("Shares") each to Darwin at a price of 2.8 pence per Share (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Application has been made to the London Stock Exchange for a total of 47,600,000 ordinary shares to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the EFF Shares will commence on 6 December 2013 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 512,050,590 ordinary shares with voting rights. This figure of 512,050,590 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

fastJet Passenger Statistics for November 2013

And take off..

Looks interesting, certainly has potential to do well in this region and the need to improve safety in this region. south Africa being on board will be a big step !

Up again atm.

sp down 8% today not looking good.

Sub 3p....again.

I must be able to come up with a pairs trading strategy for these and SXX.

You mean 'how to lose your money twice as fast as normal' ? ;o)

Sounds about right! :-)

fastjet launches worldwide distribution channels

fastjet, Africa's low cost airline, has signed two agreements that will allow travel agents worldwide to access and sell its flights.

The recently-signed agreement with Skyscanner, the award-winning flight comparison company, will enable consumers to compare fastjet's flight schedules and prices against those of other African carriers via www.skyscanner.net.

Visitors to the site will then be able to link directly to fastjet's website and book their flights. Skyscanner currently has over 25 million unique visitors every month.

fastjet has also signed an agreement with Hahn Air Systems, a sister company and client of Hahn Air.

Through Hahn Air Systems' e-alliance product, fastjet flights will be available within all of the main Global Distribution Systems (GDS), including Amadeus, Sabre and Travelport.

GDS distribution will give fastjet access to over 91,000 travel agencies worldwide and the link with Hahn Air Systems will provide unencumbered and low cost access to these systems.

It is anticipated that fastjet's flights will feature on the GDS within the next month.

fastjet Passenger Statistics for December 2013

fastjet plc is pleased to announce its passenger statistics for the month of December 2013.

fastjet operations in Tanzania carried a total of 37,458 passengers in the month, the highest number of passengers in one month since fastjet started operations, and achieved an average load factor of 71 per cent. The average yield per passenger was a record $97, compared to $50 in December 2012. Total revenue for the month was $3.6m, considerably more than previous months and exceeding $3 million for the first time since the start of operations.

A key contributing factor to December's strong performance was the Dar es Salaam to Mbeya route which increased in frequency from three to four flights per week on 1st December, and then to daily flights on 16th December. Despite these capacity increases, the route achieved an excellent average load factor of 68% for the full month.

The passenger numbers carried by the legacy 540 businesses fell slightly year on year with restructuring.

more...

Operational Update - Zambia

fastjet plc is pleased to announce that it is in discussions with the Zambian government with the intention of creating a fastjet operation based in Lusaka.

The Board see the business and political environment in Zambia as very progressive and fastjet's discussions to date with the Zambian government, Tourist Board and other stakeholders have been very positive. The Company believes the establishment of a fastjet operation would bring benefits to the country and Zambian people through the expansion of trade and tourism links as well increase safety and reliability improvements to the Zambian aviation industry.

It is anticipated that the new operation, whilst being distributed and marketed as a part of the pan-African fastjet network, would be a Zambian registered company in which fastjet plc will have a substantial stake.

fastjet will progress its application for an Air Services Licence and Air Operator Certificate as rapidly as possible but this process is likely to take up to six months. In the meantime, fastjet will be bringing its flights to the Zambian people on the Lusaka Dar-es-Salaam route that went on sale recently and has already recorded strong interest and sales.

Fastjet in fast lane with new route launch

Budget African airline Fastjet (FJET) has launched its second international route, flying between Dar es Salaam in Tanzania and Lusaka in Zambia on Saturday.
Tickets for the flights between Lusaka's Kenneth Kaunda International Airport and Dar es Salaam's Julius Nyerere International Airport first went on sale in December 2013, with prices starting at $75 (£45.65) for a one-way flight. The first flight from Lusaka was full.

Interim chairman and chief executive Ed Winter commented: "Fastjet has been able to expand its international network by working closely with the governments of Tanzania and Zambia, who understand and value the positive impact that low-cost air travel can have on the lives of their citizens and the general economy."

"WE'RE BUSY DOING NOTHING,
WORKING THE WHOLE DAY THROUGH.
TRYING TO FIND LOTS OF THINGS,
NOT TO DO.
WE'RE BUSY GOING NOWHERE,
ISN'T IT JUST A CRIME?"

fastjet Passenger Statistics for January 2014

fastjet Passenger Statistics for January 2014

fastjet plc is pleased to announce its passenger statistics for the month of January 2014.

fastjet operations in Tanzania carried a total of 31,241 passengers and achieved a load factor of 60 per cent. The average yield per passenger was $88, compared to $46 in January 2013. Total revenue for the month was $2.75m, a 128 per cent increase from January 2013 with only a 27 per cent increase in capacity.

The passenger numbers carried by the legacy 540 businesses, particularly in Angola, continued to fall year-on-year as those businesses undergo significant restructuring.

Punctuality remained outstanding with 97 per cent of flights operating on time. Note 5

Ed Winter, interim Chairman and Chief Executive Officer of fastjet, said: "I am very satisfied with our performance for January. The post-Christmas period is traditionally one of the slowest months of the year but fastjet has avoided deep discounts and has successfully focussed on maintaining a strong yield. An average yield of $88 per passenger exceeded our expectations and the large growth in yield per passenger year-on-year clearly demonstrates the strong, continuing development of the Tanzanian air travel market and of the fastjet brand.

Our new Dar es Salaam to Lusaka route is proving particularly popular with the Zambian people. All our flights out of Lusaka have been fully booked and I am confident that this route will grow substantially."

fastjet appoints Jimmy Kibati as General Manager East Africa

fastjet plc is pleased to announce the appointment of Jimmy Kibati as fastjet General Manager, East Africa. Jimmy joins from Kenya Airways where he is currently Acting Commercial Director.

Working alongside the fastjet management team, Jimmy will be responsible for leading the airline's expansion in East Africa. He will take up his new position on 17th March 2014 and initially be based in Dar-es-Salaam, overseeing fastjet Tanzania.

Ed Winter, interim Chairman and Chief Executive Officer, said: "I am absolutely delighted that we have recruited such a high calibre airline executive to spearhead fastjet's expansion in East Africa. Jimmy's vast experience in the East African aviation market will be invaluable as we fulfil our goal of becoming a truly pan-African low cost airline.

"Jimmy's appointment underlines the confidence which fastjet's track record has generated within the industry."

Jimmy Kibati has over 20 years' experience in the commercial airline business, having joined Kenya Airways in 1992 immediately following the completion of his studies at Kenyatta University, Nairobi, Kenya.

During his time at the airline, Jimmy has progressed through various senior Commercial positions, including Manager of Network Planning & Alliances, Area Manager Uganda, Rwanda and Burundi and Head of Network Planning & Airline Strategy.

Jimmy left Kenya Airways in 2005 to join the startup carrier Virgin Nigeria, as Head of Network Planning & Commercial Development, was promoted to Director of Commercial Planning in 2008, and finally to Chief Commercial Officer, where he led the re- branding of the airline to Nigerian Eagle.

Rejoining Kenya Airways as Head of Network Planning and Airline Strategy in 2010, Jimmy led 'Project Mawingu,' Kenya Airways' 10-Year Strategic plan, and also headed the team that worked on the process that led to Kenya Airways becoming a full member of the Skyteam Alliance in June 2010.

Jimmy has been accredited as Kenya Airways' representative in the Skyteam Alliance, the KQ Chair leading the expansion of the KQ/KLM Joint Venture relationship, and the African representative of IATA's Simplifying the Business Steering Committee. He was also responsible for the government portfolio, where he engaged various regulatory and government authorities to gain market access for Kenya Airways' expansion.

In January 2013, Jimmy was appointed Acting Commercial Director of Kenya Airways, where he oversaw the restructuring of the airline's commercial department and drove the execution of the company's commercial and planning strategies, including plans for the B787 Dreamliner and B777-300 fleet's entry into service and new growth plans into Asia and Africa.

Issue of Equity

Fastjet (AIM:FJET) is pleased to announce that it has raised GBP950,000 via a draw down on its Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin").

Under the terms of the EFF agreement the Company raised gross proceeds of GBP950,000 by way of the issue of 47,500,000 ordinary shares of 1pence ("Shares") each to Darwin at a price of 2pence per Share (the "EFF Shares"). The new EFF Shares have been issued and rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

Application has been made to the London Stock Exchange for a total of 47,500,000 ordinary shares to be admitted to trading on AIM. It is expected that admission will become effective and that trading in the EFF Shares will commence on 3 March 2014 ("Admission").

Following Admission, the Company's enlarged issued share capital will comprise 549,786,440 ordinary shares with voting rights. This figure of 597,286,440 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

ENDS

Passenger Statistics for February 2014 & EFF

Could fall 50% from here imo.

Skinny,
Do you still hold this share?
They have been issuing shares since it was 4p before consolidation. I was trapped then!!!

Yes I still hold this dogshare!

Open Offer

Fastjet Plc. (AIM:FJET) is pleased to announce, further to the announcement of 10 April, an open offer of up to 245,834,991 new Ordinary Shares in the capital of the Company.

In order to provide Qualifying Shareholders with an opportunity to participate in an issue of Ordinary Shares at the same price as the placing of new Ordinary Shares which raised gross proceeds of £11 million announced on 10 April 2014, the Company is making the Open Offer to permit all Qualifying Shareholders to subscribe at the Issue Price for an aggregate of up to 245,834,991 Ordinary Shares, to raise gross proceeds of up to a maximum of approximately £3.9 million.

The Issue Price of 1.6 pence per Ordinary Share represents a discount of approximately 7.2 per cent. to the closing middle market price of 1.725 pence on 15 April 2014.

fastjet Passenger Statistics for March 2014

fastjet plc is pleased to announce its passenger statistics for the month of March 2014.

fastjet operations in Tanzania carried a total of 34,536 passengers and achieved a load factor of 67%. The average yield per passenger was $88 compared to $52 in March 2013.

Punctuality remained excellent with 90% of flights arriving on timeNote 5, despite some prolonged periods of extremely adverse weather conditions.

Ed Winter, interim Chairman and Chief Executive Officer of fastjet, said:

"These are very good results for the month of March considering that demand is generally low at this time of year and that the peak Easter period falls in April.

This will be the last month when we announce our average per passenger yield as this information is increasingly becoming competitively sensitive in Tanzania.

Passenger numbers carried by the legacy Fly540 operations continue to decline, as expected, as we restructure those businesses."

Will Africa see Fastjet expand?

The low-cost carrier Fastjet is trying to spread its wings across the African continent by introducing new routes to its hub in Dar-es-Salaam, Tanzania.


http://www.bbc.co.uk/programmes/p01xtgxv

The rights issue closes next week, I can't make my mind up!

Restructuring of Fly 540 Angola and Ghana

Restructuring of Fly 540 Angola and Ghana

fastjet, Africa's low cost airline, today confirms that as previously announced, two of its loss-making Fly540 businesses are being restructured with the objective of increasing shareholder value. The Fly 540 businesses operate on a traditional airline model and not the fastjet low cost model.

After a detailed evaluation of the potential of Fly540 in both Ghana and Angola, fastjet has concluded that, although these countries present very significant long-term opportunities for the fastjet low cost model, in the short term fastjet intends to fully focus on the considerable potential of opportunities in East and Southern Africa. As a key part of the restructuring, two group-owned ATR aircraft previously operating in Ghana and Angola have been taken out of service and are currently in the process of being sold. While a leased aircraft continues to operate in Ghana, the Angolan operation has been temporarily suspended, pending the return to service of two leased aircraft on completion of required maintenance. Further details on the restructuring of both 540 operations will be announced in due course.

Fastjet interim chairman and CEO, Ed Winter, said: "Management has been carefully considering how best to restructure the Fly540 business which we inherited and this is a highly significant and very positive development in that process.

"We are currently focused on expanding the low cost fastjet network in East and Southern Africa by establishing bases in Zambia, Kenya and South Africa and these plans are progressing well. However, our overall vision is to create a pan-African low-cost network and, as such, launching the low cost fastjet model in both Angola and Ghana remains firmly part of the Company's long-term plans."

Result of Open Offer & Placing

fastjet plc (AIM:FJET), Africa's low cost airline, today announces that its Open Offer which launched on 16 April 2014, closed for applications at 11 a.m. on 6 May 2014. The Company is pleased to report that individual investors took up the majority of the Offer Shares and the balance placed with an institutional investor, raising aggregate gross proceeds of £3.9 million.

The Open Offer permitted all Qualifying Shareholders to subscribe at 1.6p per ordinary share of 1 pence in the capital of the Company ("Ordinary Share") for an aggregate of up to 245,834,991 Ordinary Shares of which 145,683,383 Ordinary Shares have been subscribed, being 59% of the total available and raising gross proceeds of approximately £2.3 million.

Following the Open Offer 100,151,608 Ordinary Shares (the "Placing Shares"), being the number of Offer Shares not subscribed under the Open Offer have been placed with an institutional investor (the "Placing") at a price of 1.6 pence per Placing Share, raising gross proceeds of approximately £1.6 million.

In addition to the net proceeds of the £11 million placing which completed on the 16th April, the £3.9 million proceeds of the Open Offer and subsequent Placing will provide further funds for the Group's expansion plans and working capital requirements.

The Open Offer remains conditional upon inter alia admission of the Offer Shares ("Admission") occurring by 8:00 a.m. on 8 May 2014 (or such later time or date as the Company may determine).

more..

fastjet Plc Ready for take-off

http://www.equitydevelopment.co.uk/doc/1214.pdf

fastjet Passenger Statistics for April 2014

fastjet plc is pleased to announce its passenger statistics for the month of April 2014.

fastjet operations in Tanzania carried a total of 35,763 passengers and achieved a load factor of 66%.

During the month, the frequent closure of airports and roads due to prolonged periods of extremely adverse weather conditions led to a decrease in punctuality, with 79% of flights arriving on time Note 5.

fastjet is also pleased to announce that its recent sale, which took place on 30th April 2014, was highly successful with almost 23,000 bookings made across all our routes, including for the upcoming summer period.

During the sale, traffic to fastjet's website increased very significantly, with web hits up by 977% compared to the same day in March 2014. Unique users (visitors to the site using a guest ID) increased by 163% in Tanzania and 210% in South Africa as new customers took advantage of fastjet's attractive low fares. The Company also set up 'pop-up shops' in several locations in Tanzania, providing temporary distribution facilities to purchase tickets. These shops were well-received and this is an initiative that fastjet will consider repeating.

Ed Winter, interim Chairman and Chief Executive Officer of fastjet plc, said: "I am very satisfied with these results for the month of April. Apart from the Easter weekend, demand is generally low at this time of year - with the continued rainy season often bringing travel to a halt - so this has been a strong performance. Passenger numbers carried by the legacy Fly540 operations continue to decline, as expected, as we restructure those businesses."


Commenting on the success of the sale, Chief Commercial Officer, Richard Bodin, said: "From a sales and distribution perspective, our sale saw the most successful day in fastjet's history, with record-breaking ticket sales, conversion rates and mobile payment transactions. The success of the sale has put us in a strong position as we head into the high season."

Restructuring update

Further to its statement on 29 April 2014, fastjet today announces that Fly 540 operations in Ghana are being temporarily suspended pending further restructuring. Fly 540 has served notice on the leasing agreement it holds on one ATR aircraft in Ghana.

As previously announced, fastjet has concluded that although Ghana presents very significant long-term opportunities for the fastjet low-cost model; in the short term the Company intends to fully focus on the considerable potential of opportunities in East and Southern Africa, and this legacy 540 operation is not therefore part of the core low cost fastjet model

fastjet will continue to provide additional updates as appropriate.

Henderson Global Investors > 5%

Vidacos Nominees < 7%

Henderson Global Investors > 11%

fastjet Passenger Statistics for May 2014

fastjet plc is pleased to announce its passenger statistics for the month of May 2014.

fastjet operations in Tanzania carried a total of 43,020 passengers and achieved a load factor of 71%, representing an increase in passenger numbers of 20.3% compared to the previous month, and 77.5% compared to the same month in the previous yearNote 3.

Month on month, capacity has increased by 11%, with 60,320 seats flown in May compared to 54,230 in April. Capacity on the Dar-es-Salaam to Lusaka route has increased by 27% (May vs April); Dar-es-Salaam to Mbeya by 43% (May vs April) and Dar-es-Salaam to Mwanza by 23% (May vs March.)

Compared with the same month last year, the number of seats has increased by 68% and revenue by 81% .

Although May is typically wet in Tanzania, during the month, the country experienced much longer and heavier bouts of rain than normal for the time of the year. While this prolonged period of adverse weather did affect punctuality, 89% of flights still arrived on time, a 10% improvement on April Note 5.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:

"I am delighted to see our capacity increasing as we maximise the utilisation of resources, particularly our aircraft, as planned. We expect to announce further increases in capacity, including new routes, in the very near future.

"I am particularly pleased that the number of flown passengers has increased by 20% compared with April, against a capacity increase of only 11%. This demonstrates that we continue to stimulate the market and that our customers value fastjet's performance. We maintain our position of market leader across Tanzania."

As previously announced, Fly 540 operations in Ghana and Angola are suspended pending further restructuring. Consequently, passenger numbers carried by the legacy Fly540 operations continue to decline, as expected. As these businesses are being restructured, it has been decided that Fly540 passenger numbers are no longer relevant in evaluating the performance of the business. Going forward, only fastjet passenger statistics will be published each month.


more..

fastjet launches flights to Zimbabwe; third international route for carrier

Disposal of Fly 540 Kenya

fastjet Plc, Africa's low-cost airline, is pleased to announce it has signed an agreement to dispose of its holding in Fly 540 Kenya, the loss-making investment it inherited as part of the acquisition from Lonrho Aviation, to Don Smith, a director of Fly 540 Kenya. The agreement wholly removes Fly 540 Kenya from the fastjet group.
All legal and financial ties between the two companies have been dissolved and each group has indemnified one another against any and all liabilities relating to the segregation of the businesses.

hmm some good news........

Final Results for the year ended 31 December 2013

Operational Highlights

· Establishment of the low cost carrier model in Africa

· Solid growth of domestic routes in Tanzania

· Launch of first international route between Tanzania and South Africa

· Restructuring of the legacy Fly 540 businesses initiated

Financial Highlights

· Group revenue increased by 154% from $21.0 million to $53.4 million of which $26.0 million is attributable to Tanzania in 2013

· Operating loss before exceptionals of $47.6 million of which $21.9m is attributable to Tanzania

· Average load factor for the year of 72%

· Average 2013 revenue per passenger rose from $46.30 to $95.20; average revenue per passenger for the year of $71.10

2014 Operational Highlights

· Disposal of Fly540 Kenya

· Second international route launched between Tanzania and Zambia; launch of third route from Tanzania to Zimbabwe imminent

· Launch of new domestic route in Tanzania; capacity increase on existing routes

· Board strengthened by new appointments

· Successful Placing and Open Offer



Ed Winter, Chief Executive commented
"2013 was a very significant year for fastjet with the Company proving the low cost airline model in Tanzania works. In the first half of 2014 we have built upon that foundation and continued to grow, moving towards our vision of becoming a true pan African low cost airline."

"Our recent succesful fundraise moves us even closer to that goal, and I am delighted with the encouraging response we received from the market generally, and fastjet shareholders specifically, demonstrating support for our strategy and vision. "

"The disposal of fly540 Kenya, which was announced yesterday, is a hugely significant step that allows us to fully pursue our expansion in East Africa."

"Our experience to date confirms our long-held view that people across Africa are embracing the opportunities offered by fasjet's reliable, safe and great value air travel."

"The combination of the management team's experience in Africa and fastjet's stronger financial position means that we are now ready to continue our expansion and leverage our first mover advantage to the benefit of passengers and shareholders alike."

The full Group financial statements is available on the Company's website at www.fastjet.com.

Board Change

Skinny,
My shares worth a candy now, having held for almost two years.

Do you think it has future given the expenditure!

We can but hope!

fastjet Passenger Statistics for June 2014

fastjet plc is pleased to announce its passenger statistics for the month of June 2014.

fastjet operations in Tanzania carried a total of 53,386 passengers and achieved a load factor of 79%, representing a 24% increase in passengers compared with the previous month. Compared with the same month last year, the number of seats has increased by 95%

Month on month, capacity has increased by 12% with 67,425 seats flown in June compared to 60,320 in May. Specifically, capacity on the Dar-es-Salaam to Mbeya route increased by 37% (June vs May) and Dar-es-Salaam to Mwanza by 16% (June vs May).

Punctuality for the month was excellent, with 91% of flights arriving on time Note 3 despite the increase in flights.

more...

I was checking ticket availability on fastjet website.
It appears that most of their flights are fully booked or are available at higher prices.

Has anyone else checked this?

Result of Agm

FastJet Looking To Break Into South African Domestic Market

http://www.bloombergtvafrica.com/video/fastjet-looking-break-south-african-domestic-market/

Flights between Tanzania and Zimbabwe commence

fastjet's, Africa's low cost airline, is delighted to announce that its inaugural flight between Dar es Salaam in Tanzania and Harare in Zimbabwe took place on Tuesday, marking the launch of the low-cost airline's third international route in Africa, and the only direct air link between the two African capital cities.

Forward bookings for the twice-weekly flights are well ahead of management expectations and with the first flights from Zimbabwe already operating to full capacity, fastjet has decided to add a third rotation which will go on sale today.

"fastjet has responded to requests from Zimbabweans and Tanzanians asking for a direct route connecting these two cities with affordable, reliable flights," said Ed Winter, Chief Executive Officer of fastjet. "Yesterday's flight from Harare was fully booked, as is Saturday's. With future bookings also looking strong we've decided to add a third rotation each Thursday which we expect to commence at the end of next month."

Prior to fastjet launching this route, those wishing to travel between Dar es Salaam and Harare had to spend at least two days travelling the approximately 2200km distance by road, or if travelling by air, via Nairobi in Kenya or Johannesburg in South Africa, often involving lengthy layovers.

"We believe the launch of this route will stimulate business and tourism in regions where citizens have had to depend on lengthy road transportation or have been excluded from air travel by the significant costs of flying an indirect route through Nairobi or Johannesburg," Winter added.

"The Government of Zimbabwe is delighted that fastjet is expanding its international route network to include Harare, and that in doing so it is bringing its low-cost, reliable and safe service to the people of Zimbabwe," said Zimbabwe's Minister of Transport, the Honourable Dr Obert Mpofu.

Tickets for flights on the direct route went on sale in June 2014, with fares starting as low as US$50 one-way, excluding airport and government taxes - considerably more affordable than the non-direct flights that are currently the only air link between the two cities.

fastjet operates internationally from Dar es Salaam to Johannesburg, Lusaka and now Harare, and has a significant Tanzanian domestic network including flights from Dar es Salaam to Mwanza, Kilimanjaro and Mbeya.

Fastjet set for Dar es Salaam to Entebbe flights

Information received over the past week suggests that Fastjet has been in talks with the local aviation authorities to commence nonstop flights between Dar es Salaam and Entebbe. The flights between the two airports were disrupted when the UCAA, to avoid sanction by ICAO after the International Civil Aviation Organization had carried out an audit on them, grounded all international flights by locally-registered airlines. Previously Air Uganda, in codeshare with Precision Air, had operated double-daily flights with their CRJ200 aircraft, but effective June 17 the operation was halted and travelers had to fly via Nairobi as Precision Air itself was not able to step into the gap at the time.

Fastjet has reportedly sought designated airline status from the Tanzanian Civil Aviation Authority and applied to the Ugandan authorities to be granted traffic rights. The latest update now speaks of Fastjet planning to commence flights to Entebbe in September, with initially four weekly frequencies, using their single-class Airbus A319 on the route. This would, after Johannesburg, Lusaka and Harare the fourth international route for Fastjet.

The airline has also been working on setting up an airline in Kenya, its initial target market before launching operations from Tanzania, where it now flies from Dar to Mwanza, Kilimanjaro and Mbeya.

http://www.eturbonews.com/48870/fastjet-set-dar-es-salaam-entebbe-flights?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Eturbonews-TravelAndTourismIndustryNews+%28eTurboNews+-+for+the+global+travel+professional%29

fastjet Passenger Statistics for July 2014

fastjet plc is pleased to announce its passenger statistics for the month of July 2014.

fastjet operations in Tanzania carried a total of 52,839 passengers and achieved a load factor of 73%. Compared with the same month last year, the number of passengers carried has increased by 69%.

Month on month, capacity has risen by 8% with 72,355 seats flown in July compared to 67,425 in June. Revenue per passenger was very strong with a 22% increase month on month.

Punctuality for the month remained excellent, with 94% of flights arriving on time Note 3 , despite the extra flights.

Application for Kenya Air Service Licence

fastjet, Africa's low cost airline, has incorporated a company in Kenya (fastjet Kenya) as part of its goal to launch a Kenyan base. Further, fastjet Kenya has submitted its Air Service Licence (ASL) application to the Kenyan Civil Aviation Authority (KCAA).

To comply with local airline ownership rules in Kenya, 51% of the equity of fastjet Kenya is owned by a Kenyan national. The balance of 49% is ultimately held by fastjet plc.

The ASL application process requires all airlines to formally submit a detailed business plan incorporating its proposed operation, network, aircraft specification, operational plan and commercial strategy.

The ASL is a significant step toward obtaining a full Air Operating Certificate which will allow the commencement of operations domestically within and internationally from Kenya.

The KCAA has indicated that the application, along with all other applications, will be gazetted in Kenya on Friday 29 August 2014. The public hearing will be held 21 days after publication, following which a decision will be rendered by the authority.

"This is an important step for fastjet" said Ed Winter, Chief Executive Officer of fastjet. "We have submitted a comprehensive application to the authorities who have confirmed that fastjet Kenya has entered the approval process.

We look forward to bringing the fastjet operation to Kenya, offering our market stimulating fares, our excellent on time performance and friendly service. We are excited at the prospect of extending the footprint of the fastjet operation through greater penetration of the African market with a Kenyan-based airline. This is in addition to the application for fastjet Tanzania to operate services into Kenya from Tanzania. The process for designation of fastjet Tanzania is ongoing."

Fastjet also wishes to comment on the recent outbreak of Ebola in West Africa on which it has received a number of enquiries. Whilst the senior management of fastjet is monitoring the outbreak, it can confirm that there have been no reported cases in any of the fastjet destinations.

Monrovia, the capital city of Liberia which is the nearest country effected by the outbreak, is 8,150 km from Dar es Salaam (compared to 7,150km from Monrovia to London). Additionally, there are currently no direct flights between West Africa and Tanzania. The fastjet business has not been affected by the epidemic. fastjet extends its condolences to all those affected by Ebola.




- ENDS -

fastjet launches "SmartClass" and "Freighty" services

fastjet, Africa's low cost airline, is delighted to announce the following innovative additions to its ancillary services:

SmartClass
From 1st September, fastjet will offer its passengers the opportunity to purchase a premium fare, or 'SmartClass', on all its flights. By upgrading to SmartClass, passengers will enjoy advance premium seat allocation, an increased baggage allowance of up to 32kg, and the ability to change flight dates as many times as required at no additional cost

Smartclass fares will start at $160 one way plus government taxes for domestic flights and $450 for international routes.

Freighty
In addition to this, from today, fastjet's international passengers can carry up to 80 Kilos of hold luggage by purchasing its 'freighty' upgrade package. This package is designed to appeal to those that fly with fastjet to either collect or purchase wholesale produce from the port and markets in Dar es Salaam to sell in their home markets. fastjet discovered that while these traders were using fastjet to travel to Dar es Salaam, they were using ground transportation to get back home. In the case of Harare for example, this equates to a 3 day bus journey. The freighty upgrade will offer passengers the opportunity to return home on a fastjet flight.

The cost of the freight upgrade package is $80 for baggage weighing up to eighty kilograms.

Commenting on these new products, Chief Commercial Officer Richard Bodin said:

"After extensive research, we concluded that whilst all our passengers love our prices, on time performance and service, some require an enhanced experience when booking and flying with us. By creating SmartClass we can provide additional flexibility, quick disembarkation from the front rows, and the ability to travel with a baggage allowance more appropriate to the needs of today's business traveller - all as part of a single, simple, all-inclusive fare.

"We have also learnt a great deal from talking to our international passengers on flights from Harare and Lusaka and their feedback has led us to introduce the innovative 'freighty' product. It's a simple product enhancement, which is easy to administer and will allow our passengers to benefit from the large capacity of our aircrafts holds.

We will continue to innovate and adapt the low cost model to fit the demands of our African customers, the market opportunities and the infrastructure in which we operate and in doing so also effectively diversify fastjet's revenue streams."

Launch of route between Tanzania and Uganda

fastjet, Africa's low cost airline, is delighted to announce that it is launching flights between Dar es Salaam and Entebbe. Entebbe is fastjet's fourth international destination and the new route will be the only direct air link between the two African capitals. Tickets for the new route go on sale today.

Flights are planned to commence on Tuesday the 16th September, and will operate on Tuesdays and Thursdays for the first weeks of September, increasing to four flights a week from the 29th September.

Since Air Uganda ceased flying, the fares offered by other carriers for flights in and out of the country have risen steadily. With its market stimulating fares, starting from as low as US$50 plus government taxes, fastjet is confident that it will have a strong competitive advantage and that this new route will be a commercial success.

fastjet Passenger Statistics for August 2014

fastjet plc is pleased to announce its passenger statistics for the month of August 2014.

fastjet operations in Tanzania carried a total of 65,489 passengers and achieved a load factor of 79%. Compared with the same month last year, the number of passengers carried has increased by 98%.

Month on month, capacity has risen by 15% with 83,085 seats flown in August compared to 72,355 in July.

Punctuality for the month remained excellent, with 94% of flights arriving on time (Note 3), despite having added extra flights.

Is Fasjet ready to motor?
Over 11m volume today on less than 2 hours trading, news comes positive for a while now. Lets see if the floor has been reached on the chart.

21M of volume, share price moving higher

ED Winter New.

http://youtu.be/GQjsosY3LGk

StockMarketWire.com
fastjet, Africa's low cost airline, has announced that during yesterday's one day sale it sold 23,000 seats, a record for the airline.

The airline holds several one day sales throughout the year to stimulate seat sales across its network. Targeting off-season periods with traditionally lower demand, the company uses low fares to maximise sales opportunities and achieve high load factors, a key strategy in low cost carrier revenue management.

Richard Bodin, CCO of fastjet said: "We were extremely pleased to discover that yesterday's sale broke all fastjet records, with queues in front of sales offices, our call centre inundated and fastjet.com receiving a very high volume of traffic.

"During the sale we processed our highest number of transactions since the airline launched in 2012, testament to our ability to communicate with the market and stimulate demand successfully."

Good news all along recently and share price performing accordingly

Mentor
Agree nice recovery from my 1.22p top up.

nice recovery alright 1.55p at the moment

Mentor
Nice rise today starting to leave the runway 10p+ in our sights.

Interim Results for the six months ended 30 June 2014

Strong growth in first half passenger numbers
New international routes launched


Interim Results

fastjet, the low cost African airline, announces its unaudited interim results for the six months ended 30 June 2014 and operational highlights of 2014 to date.


Financial highlights

· Tanzania first-half revenues grew 96% to $19.0 million, with a 41.5% increase in passenger numbers.
· Tanzanian average revenue per passenger for the period grew 39.3% to $81.65.
· First-half underlying EBIT loss of $30.5 million, including US$13.9 million trading losses in the Tanzanian operation.
· Fly540 Ghana and Angola had a $13.5 million adverse effect on the first half financial results of which $6.4 million related to a foreign exchange revaluation adjustment of US Dollar liabilities, and during the period under review, less than $100,000 of fastjet Plc cash was utilised in legacy Fly540 operations.

Operational highlights

· Flights successfully launched from Dar es Salaam (Tanzania) to Lusaka (Zambia) February 2014, from Dar es Salaam to Harare (Zimbabwe) August 2014 and from Dar es Salaam to Entebbe (Uganda) launched September 2014.
· Fly540 Ghana and Fly540 Angola loss-making services remain suspended, with restructuring activity underway.
· The Group disposed of its investment in Five Forty Aviation Limited (Kenya) in June 2014.
· fastjet Tanzania aircraft utilisation increased from 5.5 hours to 7.9 hours per aircraft per day during the period and reached 9.9 hours per aircraft per day by the end of August, on track to achieve the target of 11.5 hours.
· fastjet Tanzania punctuality averaged an excellent 90% (arrival within 15 minutes) during the period.
· A variety of additional revenue streams were added to the business mix during the period - including car rentals, hotels and car parking.

Winter: Fastjet to become 'profitable by the end of 1H 2015'

Passenger Statistics for September 2014

fastjet operations in Tanzania carried a total of 57,756 passengers and achieved a load factor of 74%. Compared with the same month last year, this represents a 79% increase in the number of passengers carried.

Punctuality for the month remained excellent, with 88% of flights arriving on time (Note 3).

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:

"I am delighted to see such strong total passenger numbers and high load factor for September compared to August, a peak travel month. Our capacity will continue to grow during October with increased frequency on the Entebbe and Kilimanjaro routes and we expect to see an increase in average utilisation per aircraft to 10.2 hours, closer to our target of 11.7 hours."

Operational Update

fastjet announces that it has experienced recent operational issues in Tanzania affecting its flight programme. These have now been resolved and normal operations are expected to resume tomorrow.

A combination of bird strikes and maintenance delays has resulted in a number of fastjet flights being delayed and others being cancelled.

fastjet evaluated the possibility of leasing an aircraft to cover the reduction in its fleet but was unable to source a suitable aircraft in the required timeframe.

fastjet aircraft encountered an unprecedented total of four 'bird strikes' in two weeks, with two large birds colliding with the nose cone of the aircraft, and two hitting the aircraft engines fan blades.

Safety remains fastjet's top priority, so following each incident the aircraft were thoroughly inspected and repaired by engineers to be certified before return to operation. In addition to this, a fastjet aircraft on scheduled maintenance (C-check) was delayed in returning to operation due to repairs taking much longer than expected.

The cancellations and delays have had a minimal impact on either total passenger numbers or financial results .

Commenting on these events, Ed Winter Chief Executive Officer and interim Chairman said: "We have apologised to all passengers affected by this unfortunate combination of events. Our staff have done everything possible to take care of and communicate with affected customers. It is highly unusual to have had four bird strikes in such a short period of time; these coinciding with a maintenance delay compounded the situation.

"Going forward, we are working with the relevant authorities to improve the management of the Mwanza airfield and surrounding areas to reduce the likelihood of bird strikes in the future. Also, as we execute our plan to add more aircraft to the fleet, we would expect similar circumstances to have a smaller impact on operations."

StockMarketWire.com
Fastjet, Africa's low-cost airline, has signed a digital distribution agreement with Qunar.com, one of China's largest consumer travel portals attracting 75 million monthly visitors and 34 million mobile app users.

fastjet flights will be available to view on Qunar.com with click through traffic being referred to fastjet.com to convert.

fastjet head of commercial, Ellis Cain-Jones, said: "This is an extremely exciting venture, with passenger traffic from Asia and particularly China realising significant year-on-year growth. We already have agreements with a number of travel agents specialising in ticket sales to the Chinese market, but this represents a firm step to increase numbers and direct sales. The number of Chinese passengers flying into East Africa is already significant and offering fastjet fares and schedules to this growing market will only be positive for the airline."

fastjet Passenger Statistics for October 2014

fastjet operations in Tanzania carried a total of 59,830 passengers and achieved a load factor of 74%. Compared with the same month last year, this represents a 77% increase in the number of passengers carried.

Punctuality for the month remained excellent, with 95% of flights arriving on time Note 3.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:

"I am delighted to see such strong total passenger numbers and high load factor for what is traditionally a low travel month. Passenger numbers grew month on month as we added additional flights to Entebbe and recorded strong passenger increases on our flights to Harare."

Zambia Air Service Permit (ASP) granted
fastjet plc is pleased to announce that fastjet Zambia Ltd has received an Air Service Permit (ASP) from the authorities in Zambia.
The ASP approval marks a major step towards launching fastjet operations in Zambia and will give the airline the authority to operate air services to both domestic and international destinations within and from Zambia.
The fastjet Zambia team is now focused on continuing the submission of the necessary documents and manuals to complete the application process for an Air Operating Certificate (AOC) which will then allow the commencement of operations.
Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:
"We have been working tirelessly to roll out the fastjet model across the region and obtaining the ASP in Zambia is a really positive step forward. We still have to obtain the full AOC, but this vote of confidence from the authorities is a major step along that road.
"Timescales before the first flight will be dependent on the time taken for the authorities to review the AOC application documents. We look forward to going on sale and commencing operations in Zambia once that process has been completed."
fastjet commenced the process of obtaining the necessary licences earlier this year. Receiving an ASP means that the Zambian Civil Aviation Authority and the Ministry of Transport has approved the business plan, aircraft choice and proposed structure of the planned airline as appropriate to operate in Zambia.
Zambia will be fastjet's second base from which it plans to operate low cost flights to various destinations in East and Southern Africa. Prices on regional routes from Zambia are currently very high especially so where a monopoly operator controls the route. Fastjet is confident that its low cost model will stimulate the market.

Uganda 5th Freedom Flights approved by Uganda
In addition, fastjet plc is pleased to announce that it has received permission from the Uganda Civil Aviation Authority to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg under "5th Freedom" rights using Tanzanian based aircraft. Once the authorities in the relevant countries provide their approvals fastjet Tanzania will be able to offer flights linking Entebbe with these destinations.

fastjet commenced operations from Dar es Salaam to Entebbe on the 16th September, and added additional flights in October and this new permission will further establish fastjet in Uganda and assist in the process of offering additional destinations to fastjet's growing network.

Since Air Uganda ceased flying, the fares offered by other carriers for flights linking Uganda regionally have risen steadily. With fares, starting from as low as US$50 plus government taxes, fastjet is confident that it will attract considerable customer support.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: "5th Freedom rights present a fantastic opportunity to increase the Tanzanian network, increasing aircraft utilisation and also establishing the fastjet brand in Uganda without the immediate establishment of a full Ugandan base. "

IATA definition 5th Freedom: This freedom is also sometimes referred to as "beyond rights". It is the right of an airline from one country to land in a second country, to then pick up passengers and fly on to a third country where the passengers then deplane

Tanzania
The Company is pleased to announce it has signed an agreement to enable Tanzanian participation in the ownership of fastjet Airlines Limited, its Tanzanian based airline (fastjet Tanzania).
fastjet Plc and fastjet Tanzania today entered into an agreement with Enterprise Growth Market Advisors Limited (EGMA) for the purpose of selling an interest in fastjet Tanzania to Tanzanian investors. As part of that agreement, fastjet Tanzania today issued 835 shares in its share capital (the Tanzania Shares) to fastjet International Limited, a company incorporated in Tanzania (fastjet Holdco), which is in turn is owned by four Tanzanian nationals including Ami Mpungwe, George Carmichael Theobald, John Corse and Sophia Rwegellera (the Tanzania Shareholders). fastjet Tanzania also issued a further 17 shares in fastjet Tanzania to each of Ami Mpungwe and Lawrence Masha, the two Tanzanian non-executive directors of fastjet Tanzania, being 34 shares in total and representing 2% of its enlarged share capital. The issue of these shares, which were issued nil paid, brings the total Tanzanian legal and beneficial ownership of fastjet Tanzania to 51%.
Under the terms of the arrangement, the Tanzania Shareholders have agreed to sell their interest in fastjet Holdco and/or fastjet Tanzania to such Tanzanian investors (Subsequent Tanzanian Investors), at such price and on such terms as may from time to time be specified by fastjet Plc (the Placing Arrangements). Each of the Tanzania Shares (and the shares held by them in fastjet Holdco) which has not been transferred by the Tanzanian Shareholder to a Subsequent Tanzanian Investor is at all times subject to a call option in favour of fastjet Plc for the sum of USD 0.01 for each of the Tanzania Shares.
As a consequence of these changes fastjet Tanzania is expected to benefit from entry into new markets and have greater access to more international African destinations through the various Bilateral Air Service Agreements to which Tanzania is a party.
The Board of fastjet believes that the issue of the new shares and the Placing Arrangements will provide the near term benefit of local shareholding in Tanzania. It will initiate the process of finding suitable long term Tanzanian shareholders with the aim of fulfilling fastjet's ambition of having airline companies in strategic African jurisdictions which are part owned by nationals of the countries in which they are based to help in creating a truly pan-African airline.
The issue of the Tanzania Shares will not provide any immediate cash release as the Tanzania Shares will be held by fastjet Holdco on a non paid up basis pending their sale to Subsequent Tanzanian Investors.
Funding
As set out in the interim results in September, until the contribution from operations exceeds central costs, there will be a requirement for additional funding for the Group. Furthermore, additional funding will be required for each significant phase of expansion including that in Zambia and Uganda, outlined above, as well as its near term working capital.
The Board is in discussions with a number of potential funders, including industry partners and specialist African investors, with a view to investment both at the Group level and at the individual operating company level. The Company is aiming to complete this necessary funding by early in the New Year.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said "We are delighted to have found a suitable structure which allows for Tanzanian participation in fastjet Tanzania, whilst providing the opportunity to raise capital from local Tanzanian investors. This is a positive and logical step in the implementation of our model of local investment and local finance for growth, and will aid in fastjet Tanzania being granted additional rights under Bilateral Air Service Agreements with other African countries on the continent.
It is pleasing to see that as a result of Management focus on the regulatory framework, approvals in both Uganda and Zambia have been granted. This is a very significant step along the road to becoming a truly pan African Low Cost airline."

November passenger statistics and operational update



As fastjet celebrates two years of successful operations since its first flight on 29th November 2012 the Company today updates on November passenger statistics, current outlook for December and the impact of the fall in oil prices.

November

fastjet operations in Tanzania carried a total of 63,146 passengers, a 90 per cent increase compared to the same month last year, and achieved a load factor of 77 per cent. The Company's On Time Performance remains excellent at 91 per cent.

December forward sales fastjet reports a very positive forward sales position for December with a 99 per cent increase in current ticketed sales and a 30 per cent jump in average yield versus December 2013. To meet high season demand, fastjet has adjusted the December flying programme to allow for the operation of additional flights on certain routes, maximising revenue opportunities for the month. These extra flights are selling well.

Fuel

fastjet is also pleased to provide an update on the impact of the recent reduction in oil prices on its business.

fastjet does not currently pre-purchase or 'hedge' its future fuel price. The Company pays current market rates for its fuel and is therefore realising substantial benefits from the reduction in the cost of crude oil.

Although fastjet operates fuel-efficient modern Airbus 319 aircraft, fuel represents a very significant percentage of its direct operating costs. As such, the fall in the price of oil delivers a large direct cash benefit to the airline.

The airline procures its fuel via a central buying platform that consolidates the requirements of a significant number of small airlines across Africa. This 'group purchase' plan provides both economies of scale not usually enjoyed by an airline of fastjet's size, and unencumbered access to fuel across the continent.

Commenting on the above, Ed Winter Interim Chairman and Chief Executive Officer of fastjet plc said, "We are very pleased with our trading position in Tanzania. November results are strong as we maximise our market leading position in the country. December is a critical month and the early signs are very positive.."

"With fuel representing around 40% of our operating costs and oil prices forecast to remain at these low levels through early 2015, fastjet is directly benefitting from the reduced oil price."

____________________________________________________________________________
Month ending November 2014 November 2013 Change

Passengers Note 1 63,146 33,320 90%

Load Factor Note 2 77% 72% +5pp

Rolling 12 months ending November 2014 November 2013 Change

Passengers Note 1 569,031 357,602 59%

_______________________________________________________________________________



Notes:

1. "Passengers" are sold seats flown, excluding infants. fastjet bookings are generally non-refundable.

2. "Load Factor" is the number of 'passengers" as a percentage of the number of available seats flown.

3. "on time" - arrival earlier than or within 15 minutes of schedule

I am 90% down on this. I don't know if I should add or not.
I know most good airlines run over 80% full these days.

What do you think Skinny and others who follow this company?

Low fuel prices will help all airlines, but I think I am correct in saying that FJET only run 3 aircraft, so until they increase the size of their fleet (10 aircraft is the aim) then can't really see this stock going anywhere.

they have four aircrafts according to reports earlier this year.

FWIW - I'm also down on these @70% and have a long term limit in to buy if they fall to @0.60p.

These are a real punt for me, but if they do overcome their obstacles, could be very rewarding.

Disposal of Assets

As previously announced the Company is restructuring the Fly540 Ghana and Angola businesses. As part of that process two ATR aircraft previously operated by those companies are being sold.

Fly 540 Ghana Limited (540 Ghana) and Fly 540 Sociedade De Aviacao Civil SA (540 Angola), as a part of their historic operations, acquired two ATR aircraft (MSNs 949 and 826, together the ATRs). These aircraft were acquired by way of a financing facility provided through the African Export-Import Bank (Afreximbank), guaranteed by fastjet Aviation Limited (a BVI entity).

The ATRs have not been in use since operations ceased in Ghana and Angola earlier this year. The ATRs are surplus to current business needs and have not been generating a profit for the fastjet group, but have been accruing finance lease and other costs in both 540 Ghana and 540 Angola.

Sale agreements were entered into with Elix Assets 7 Limited (Elix), which such agreements are subject to certain conditions. The sale price is at market value to a third party being USD 11.6 million for MSN 949 and USD 9.75 million for MSN 826, payable in cash to Afreximbank as part-consideration for amounts owing under the financing facility.

As a consequence of the sale, fastjet Aviation Limited will be liable as guarantor of the original aircraft acquisition, for the shortfall in sale proceeds which is anticipated to be approximately USD 2.3 million. fastjet Plc, as shareholder of fastjet Aviation limited has no liability under this guarantee. fastjet Plc has previously provided, in its published 2014 interim financial statements, for an estimated USD 2.1 million impairment of these aircraft assets.

fastjet Zambia approval update

fastjet, Africa's low-cost airline, is pleased to announce that fastjet Zambia Ltd has received confirmation from the Zambian Civil Aviation Authority that it has successfully completed the critical 'Phase 1' of its application for an Air Operating Certificate (AOC) This is a significant step towards the launch of fastjet operations in Zambia. The next stage of the AOC process, which is well underway, allows the authorities to evaluate fastjet Zambia's planned company structure, gain first-hand understanding of fastjet's Airbus aircraft and approve fastjet Zambia's operational plan.

Commenting on the news, Ed Winter, interim Chairman and Chief Executive Officer of fastjet plc, said: "The process to obtain permission to operate in Zambia is proceeding extremely well. We have an excellent team in Zambia, who are working positively with the local authorities to complete the approval process as efficiently as possible.

"We look forward to bringing the high quality and low-cost fastjet operation to the people of Zambia soon".

Zambia will be fastjet's second base from which it plans to operate low-cost flights to various destinations in East and Southern Africa. Prices on regional routes from Zambia are currently very high, especially so where a monopoly operator controls the route. fastjet is confident that its low-cost model will stimulate the market.

fastjet intends to announce its passenger statistics for December 2014 on 12 January 2015.

Passenger Statistics and Operating Update

Passenger Statistics and Operating update.

fastjet achieves first profitable trading month.

December 2014 Profit

fastjet Tanzania, the group's principal operating company, posted its first profitable trading month at an Earnings before Interest and Tax ('EBIT') level in December as it saw strong demand for its services during the very busy holiday season and benefited from low fuel prices. Yield per passenger rose 20% compared to December 2013 with total revenue for the month up 106 per cent year on year. The contribution generated by the Tanzanian operation was sufficient to create an underlying operating profit for the month at the fastjet Plc group level.

December 2014 Passenger Statistics

fastjet operations in Tanzania carried a total of 65,653 passengers, a 75 percent increase compared to the same month last year, and achieved a load factor of 76 percent, 2 percentage points up on last year.

On Time Performance remained excellent at 89 percent.

Q1 2015

Although the first quarter is traditionally a relatively low demand flying period, trading in the first quarter is expected to be much improved on last year as the excellent growth trends in both passenger numbers and yields seen in 2014 are anticipated to continue and as the Company benefits from lower fuel costs. The number of flights operating has been reduced to match capacity to expected demand and reduce costs.

Fuel

The fuel price in January will provide a further 13 percent reduction on December prices. The Company expects further reductions in February and March as the recent falls in the price of crude oil continue to flow through to African aviation fuel supplies. As stated last month, fastjet does not currently pre-purchase or 'hedge' its future fuel price. The Company pays current market rates for its fuel and is therefore realising substantial benefits from the reduction in the cost of crude oil.

Although fastjet operates fuel-efficient modern Airbus 319 aircraft, fuel represents a very significant percentage of its direct operating costs. As such, the fall in the price of oil delivers a large direct cash benefit to the airline.

Millionth passenger

fastjet Tanzania is also celebrating the major milestone of flying one million passengers across the African continent.

This milestone represents another significant achievement for the low-cost airline as it is embraced into the hearts and minds of travellers in Tanzania and further afield across East and Southern Africa.


Commenting on December trading, Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:

"The announcement of our first profitable trading month is a great achievement and a huge milestone on the road to becoming the first pan-African low-cost airline. We have already proven that the low-cost model works to stimulate traffic and we have now shown that it can create a profitable business. The Tanzanian fleet of three aircraft is now producing more than double the monthly revenue compared to a year ago. This higher utilisation, combined with higher per passenger revenues and lower fuel prices, has been transformational for the business.

more.......

They forgot to add FJET............

3 Airline Stocks Set To Take Off: easyJet plc, International Consolidated Airlines Grp And Ryanair Holdings plc
By Motley Fool | Mon, 12th January 2015 - 14:12

There is no hiding it - the travel sector, in particular airline stocks, are currently benefiting from plummeting oil prices. On January 12th, the Brent crude oil price dropped by 2.6% to $48.74, to a six-year low. US crude oil was also at its lowest level since 2009, down by 2.3% to $47.25 a barrel. On the back of this news, German airline Lufthansa said it expected its fuel bill for 2015 to be 13% lower than previously forecast, as a result of the low oil price.

Passengers are also turning to the low-budget UK airlines and others to escape the "winter blues" in January. I have picked three airline stocks worth investing in or re-visiting, whilst Brent crude continues its' descent below $50 a barrel and office workers continue to spend their above inflation pay-rise on a dream holiday destination.

easyJet (LSE:EZJ)

This low-budget airline founded by Sir Stelios Haji-Ioannou in 1995, reported an upsurge in passenger numbers before Christmas. The load factor - a measure of how full its aircraft were - increased by 0.5 percentage points to 89.5%, with passenger numbers by 3.1% to 4,386,296 in November against the same month in 2013. In November, the Luton-based carrier also reported a rise in annual pre-tax profits by 21.5% to £581m, with a 6.3% rise in revenue to just above £4.5bn. Due to this positive set of results, broker Liberum lifted its target price from 1,650p to 1,725p and repeated its "Buy" recommendation. Liberum analyst Gerald Khoo said although the stock's valuation is currently at a premium to its five-year average, this is "justified" by the "rapid and dramatic improvement" in the airline's margins and return on invested capital in recent years.

Ryanair (LSE:RYA)

Another low-budget airline doing well on the back of the falling oil price is easyJet's rival, Ryanair. Ryanair's shares hit a record high in early January, boosted by a rise in passenger numbers to 6.02 million in December. This rise translates to an 88% rise in seat occupancy for the month. The low-budget airline's profit warnings of 2013 seem a distant memory for investors. It has also scrapped quite a few unpopular policies that weren't currying favour with potential customers -- for instance, Ryanair now allow passengers more carry-on baggage and have cut punitive charges. It has also improved its website and launched a service aimed at business customers. In December, Ryanair raised its forecast for pre-tax profits this year to between £636m-£655m), up from an earlier estimate of £584m-£600m.

International Consolidated Airlines (LSE:IAG)

The owner of British Airways and the Spanish carrier Iberia, ICAG group is currently in pursuit of Aer Lingus. After suffering several rebuffs, it raised its cash offer from an earlier Euro 2.30 to Euro2.40 per share. If the takeover bid was successful, ICAG would gain more take-off and landing slots at Heathrow, and increase its passengers numbers on one of the world's busiest routes (London to Dublin). Analysts have talked of the merits of the Aer Lingus merger for ICAG group including strengthening its transatlantic market position. Broker Liberum has reiterated its "Buy" stance, with 16 other brokers viewing the stock as a "Strong Buy".

Has been going places for the last few days and chart looking bullish after 2 month of bottom floor
Bought some at end of day at 1.075p

Good starting day with once again large volume Buying

going places today again, noticing that some investors are taking profits from time to time.
Looks like the high volume yesterday is going to be short of today's

Volume is reaching now yesterday's levels, so ready to surpassed and most likely reaching over 100M by the end of the day

benefiting from low oil prices has been a good omen for the punters and investors alike today as the shares traded reached 127M

Today is another day as the share price fails to break the 1.55p since yesterday
Indicators well at overbought territory and share price well over the top Bollinger Band
and Level 2 not on as good as it should be

sold at 1.50p
39.50% profit on a couple days was good enough

fastjet's January 2015 passenger statistics

fastjet operations in Tanzania carried a total of 55,695 passengers in January 2015 and achieved a load factor of 69%. This represents a 78% increase in the number of passengers carried and a 9% increase in load factor compared with the same month last year,

On-Time Performance remained excellent at 94%Note 3.

Commenting on the figures, Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: "January is traditionally the month of the year when airlines see the lowest consumer demand. We are therefore very pleased with our trading figures as we build upon our market leading position in Tanzania. We have clearly demonstrated that our low-cost model is stimulating the market and encouraging more and more people to use our reliable and affordable flights rather than road transport."


Year-on-year, the 78% increase in passengers carried in January is well ahead of the 53% increase in number of seats flown, producing a strong uplift in load factor.

fastjet launched its Spring flying programme last week featuring the commencement of the new route linking the two busiest destinations in the fastjet network (Kilimanjaro and Mwanza).

fastjet's February 2015 passenger statistics

fastjet plc is pleased to announce its passenger statistics for the month of February 2015.

The fastjet Tanzanian operations carried a total of 52,801 passengers in February with a load factor of 70%.

fastjet also continues to maintain its excellent punctuality rate with February recording 96% of flights arriving on time. Note 3

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:
"With a 50% increase in passengers we continue to see great year on year growth achieved by increased utilisation of our aircraft. As we approach Easter and peak summer months we will be adding even more capacity on existing routes and expanding our route network."

fastjet continues to benefit from falling fuel prices.
fastjet paid 13% less (cost per gallon ) in February compared with January 2015, representing a 37% reduction (cost per gallon) compared to February 2014.

Seat sale
fastjet is delighted to report that during its latest sale event it sold over 24,000 seats. As part of its commercial strategy, fastjet holds several one day sales throughout the year to stimulate seat sales across its network. Targeting off-season periods with traditionally lower demand, the company uses low fares to maximise sales opportunities and achieve higher load factors, a key strategy in low cost carrier revenue management. During the airline's "Mad March Sale", thousands of tickets were available at the lowest fare of $20 on domestic routes and $50 on international routes.

fastjet wins major ecommerce award for customer service
fastjet is also proud to have been awarded the top "gold" award at this year's prestigious Stevie Awards for e-Commerce and Customer Service. On 27th February, the Stevie Awards recognised our high standards of customer service through e-commerce, and chose to award us gold over the other two finalists Delta Air Lines and DHL Express. With a strong and consistent online presence, we've pioneered an online customer service revolution across Africa since our first flight on 29th November 2012. We daily communicate to over 350,000 fastjet followers through social media channels such as Facebook, Twitter and Instagram, as well as email newsletters and blog posts for news and milestones on fastjet. A number that increases with new fans and followers every day.

fastjet announces Zimbabwe Air Service Permit granted

fastjet plc is pleased to announce that, as part of its plans to grow its footprint in Sub- Saharan Africa, it has received an Air Service Permit (ASP) from the Ministry of Transport and Infrastructural Development of the Government of Zimbabwe responsible for administering the Civil Aviation Authority of Zimbabwe (CAAZ). This is a significant step towards the Company obtaining an Air Operating Certificate (AOC) and its plans to launch fastjet Zimbabwe in due course.

Press Speculation

fastjet notes today's press coverage in The Times in relation to a fundraising to fund its growth plans. The Company can confirm that it is currently in talks with potential investors and will provide an update in due course.

Result of Placing of New Ordinary Shares

fastjet (AIM: FJET), Africa's low cost airline, is pleased to announce that, following the launch of a proposed placing today, 1 April 2015, it has successfully placed 5,000,000,000 new ordinary shares (the Placing Shares) at a price of 1 pence per share (on a pre-consolidation basis) (the Placing Price) to new and existing institutional, other investors and fastjet management (the Placing). The Placing, raised gross proceeds of GBP 50 million (approximately USD 75 million) (the Placing Proceeds).

Net proceeds from the Placing will be deployed in two key areas - expansion working capital and the launch and growth of operations in Kenya, South Africa, Uganda, Zambia and Zimbabwe. fastjet will use funds raised in excess of that needed for its working capital requirements to commence an aircraft acquisition programme of used Airbus A319 aircraft.

The Placing was conducted, other than in relation to the Republic of South Africa and the Placing Shares to be subscribed for by Sir Stelios Haji-Ioannou through easyGroup Holdings, by way of an accelerated book-building process. Liberum Capital Limited (Liberum) acted as global co-ordinator (the Global Co-ordinator) and Liberum and WH Ireland Limited (WH Ireland) acted as joint bookrunners (the Joint Bookrunners) on the Placing. In relation to the Republic of South Africa, Sanlam Securities UK Limited (Sanlam) acted as broker on the Placing.

The Placing Price represents a discount of approximately 14.89 per cent to the closing middle market price of 1.175 pence per Ordinary Share on 31 March 2015, being the last business day prior to the announcement of the Placing. The Placing is conditional, inter alia, on the approval of shareholders in a general meeting of the Company to be held on 20 April 2015 and admission of the Placing Shares to trading on the AIM market of the London Stock Exchange plc (AIM) (Admission).

Proposed Consolidation of Existing Ordinary Shares

Placing of 50,000,000 New Ordinary Shares

Notice of General Meeting

fastjet announces that it will today be posting notice of a GM of the Company to all shareholders and will also make the notice available on the Company's website (www.fastjet.com). The GM will take place at the Lingfield Suite, Hilton Hotel, South Terminal, Gatwick Airport, Gatwick RH6 0LL at 9.00 a.m. on 20 April 2015.

Grant of Options

fastjet Passenger Statistics for March 2015

fastjet plc is pleased to announce its passenger statistics for the month of March 2015.

fastjet operations in Tanzania carried a total of 56,808 passengers and achieved a load factor of 70%. This represents an increase of 66% in the number of passengers carried and a 3% increase in the load factor, compared with the same month last year.

Punctuality for the month remained excellent, with 91% of flights arriving on time Note 3. This was despite increased aircraft utilisation with additional flights added to the network.

more....

Result of General Meeting, Approval of Share Consolidation and Completion of Placing

Oh dear , oh dear - this has a whiff of destruction about it...issuing yet more shares Options and CONsolidation . . . . you can't wait for the next hurdle - Yikes. . . . . and they are flying into a rather subdued part of the African Continent...well, Good luck....

Standard Life Investments (Holdings) > 7%

Prudential > 14%

M&G Investment Funds > 14%

Starting to taxi post consolidation.

Majedie Asset Management Limited > 5%

how the chart is looking
Strong movement today

fastjet Passenger Statistics for April 2015

fastjet operations in Tanzania carried a total of 68,088 passengers and achieved a load factor of 73%, the highest monthly passenger total recorded since the commencement of fastjet operations. This beats the previous highest month, December 2014, by 2,500 passengers and represents growth of 90% compared to the same month last year. The load factor grew 7% compared to the same month last year and capacity increased month-on-month by 15%.

more..

Directorate Change

Planned Fleet Expansion


fastjet (AIM:FJET), Africa's low-cost airline, is pleased to announce it plans to increase its fleet this year as it seeks to expand its operations and add further routes to its network.

With fastjet's current fleet of three aircraft almost fully utilised, additional aircraft will be required to support the planned expansion of fastjet Tanzania and to facilitate the start-up of planned new fastjet operations in both Zambia and Zimbabwe.

The airline has signed a letter of intent with ICBC International Leasing Company Limited in respect of the leasing of one A319-131 aircraft (the "Aircraft").

This Aircraft is the first of a number that fastjet is planning to add to its fleet this year, with each additional aircraft able to make up to 1,000 more seats per day available to fastjet's customers. Based on the 75% load factors currently being projected by fastjet, each aircraft in the fleet is expected to carry approximately 275,000 passengers per annum.

fastjet expects to put the Aircraft into service in the third quarter of 2015, subject to entering into a lease agreement with certain conditions being met, including the reconfiguration of seating and painting in fastjet livery.

Ed Winter, fastjet Chief Executive Officer, said: "It will be a strong step forward to add another aircraft to our fleet and embark on our planned expansion funded by our recent £50 million placing. We are currently negotiating to bring further aircraft into the fleet."

As previously announced, the Company's target is to have up to 34 aircraft operating to 40 destinations within and from Tanzania, Zambia, Zimbabwe, South Africa, Kenya and Uganda by the end of 2018.

Ends

Never heard of this lot but :-

Sanlam Securities Buy 117.00 117.50 - 291.00 Initiates/Starts

Used to be SPI, under the brand name 'Gensec'. Then part of their group 'Merchant Securities' became Sanlam Private Investments' in 2012, then 'Sanlam Private Inv' became 'Sanlam Securities UK' in 2013, then in 2015 "Sanlam has gone through a brand refresh and updated positioning. The new brand architecture is constructed around five expertise fields, namely: insurance, financial planning, investments, retirement and wealth. As such, Sanlam Private Investments now operates under the Wealth descriptor and has changed its name to Sanlam Private Wealth."......and no, I haven't heard of any of them either!!!

Final Results for the year ended 31 December 2014

Summary highlights
· Significant improvement in operational and financial KPIs
· Material corporate structure changes and improvements
· 35% first time fliers on fastjet in 2014 - African growth potential evident
· 95% customer satisfaction level

Operational highlights

2014
· fastjet Tanzania
o 85% increase in aircraft utilisation (from 5.5 to 10.2 block hours per aircraft per day)
o 62% increase in total seats flown
o 92% punctuality - SAA 84% easyJet 85% (average arrival within 15 minutes)
o Additional ancillary revenue streams introduced (including seat selection, 'Smartclass', and 'Freighty').

· Fastjet Zambia
o Zambia Air Service Permit granted - this is a significant step on the path to gaining an Air Operator Certificate and launching flights within and from Zambia. First aircraft expected to be deployed in Q3 2015.

· Fly 540
o Loss-making services of Fly 540 businesses in Ghana and Angola remain suspended, now treated as discontinued - minimal cash cost in the year.
o Disposal of investment in Fly540 Kenya - legal and financial indemnity received.


Subsequently
· Zimbabwe Air Service Permit granted marking a significant step on the path to gaining an Air Operator Certificate and launching flights within and from Zimbabwe. First aircraft targeted to be deployed in Q3 2015.
· Fourth aircraft lease - a letter of intent (LOI) signed for the lease of an Airbus A319 as part of planned fleet expansion.

2014
· fastjet Tanzania
o 106% increase in full year revenues to US$53.8 million ( 2013 US$26m)
o 26% increase in average revenue per passenger to US$90 (2013 US$71)
o 64% increase in passengers carried
o 3% increase in Revenue per Available Seat Kilometer (RASK) to 7.95c (2013 7.72c)
o 20% fall in Cost per Available Seat Kilometer (CASK)to 11.27c (2013 14.13c)
o Full year underlying operating loss before exceptional items of US$22.5 million
o Full year underlying operating loss after exceptional items of US$24.4 million - US$1.9 impairment on intangible items
o 50% reduction in year on year EBITDA loss margin.

· fastjet Group

o Operating loss before exceptionals US$30.7 million
o Operating loss after exceptionals US$43.9 million - impairments of US$10.7m intangibles and termination of easygroup management contract of US$2.5m
o Loss including discontinued businesses US$72 million - loss from Fly 540 Angola and Ghana US$27.7 with less than US$0.25 million of fastjet Plc cash used in these legacy operations.

Subsequently
· £50 million equity fund raise, significantly broadening the institutional shareholder base.
· Share capital reorganisation - consolidation of ordinary shares on the basis of one new share of £1 each for every 100 shares of 1p each.

Restatement
· Restatement of 2013 financial statements in relation to the 2012 purchase of the Lonrho aviation business. The transaction was treated as an acquisition by Rubicon (now fastjet Plc) whereas it is more correctly treated as a reverse acquisition by Lonrho, as whilst the Lonrho board in practice did not, it could have sought control of the Company. The restatement has neither any cash effect on any of the years concerned nor any material impact on the 2014 trading results.

Outlook
· Significant growth in fastjet year-on-year passenger numbers expected to continue, with the level of passenger numbers achieved reinforcing fastjet's stronghold in the Tanzanian market, and the attractiveness of both the low-cost fare structure and operational reputation.
· Growth for 2015 expected to come both from the Tanzanian operation and from the addition of new fastjet airlines in Zambia and Zimbabwe.
· Current fleet is now nearly fully utilised - extra capacity is required with a fourth aircraft due to join the fleet in Q3. The aircraft in question will be the first of a number of aircraft that fastjet is planning to add to the fleet this year, with each additional aircraft able to make up to 1,000 more seats per day available to customers. Based upon the 75% load factors currently projected, each aircraft in the fleet is expected to carry approximately 275,000 passengers per annum.
· Negotiations on further aircraft underway with target to build a fleet of up to 34 aircraft operating to 40 destinations within and from Tanzania, Zambia, Zimbabwe, South Africa, Kenya and Uganda by the end of 2018.

fastjet Passenger Statistics for May 2015

Disposal of Fly540 Ghana

22 June 2015

fastjet is pleased to announce that it has signed an agreement (the Agreement) to dispose of its interest held by the Company and fastjet Air Limited, a wholly owned subsidiary of fastjet (together the Sellers), in airline Fly 540 Ghana Limited (Fly 540 Ghana), the loss-making investment it had previously acquired from Lonrho Aviation in July 2012. This is in line with the Company's previously announced strategy to exit from certain territories operated before the establishment of the fastjet brand in Tanzania and elsewhere.


more....

skinny
Do you still hold this? Is it good to buy?

Hmmm.....the next post should be interesting! ;o)

Yes I still hold (at a loss) - I guess they have as much chance as any other AIM company in Africa!

I see them now as a pure gamble - but I guess that's true of any AIM company.

Broker recs

Harry! :-)

RNS Number : 8320Q

JPMorgan European Invest Tst PLC

22 June 2015

JPMORGAN EUROPEAN INVESTMENT TRUST PLC (the 'Company')

THE COMPANY ANNOUNCES THE INDICATIVE GEARING RATIOS OF THE BUSINESS As At: 19 Jun 2015

JPMORGAN EUROPEAN INVESTMENT TRUST PLC - Growth 9.2%

JPMORGAN EUROPEAN INVESTMENT TRUST PLC - Income 9.4%

The above ratios are for indicative purposes only and may differ to the ratios disclosed at month end and in the report & accounts due to slightly different methodologies applied

Name of contact and telephone number for queries:
Debbie Sarfas 0044 207 742 3449
Name of authorised company official responsible for making this notification:
Paul Winship 0044 207 742 9815 - Company Secretary
Date: 22 June 2015

10 aircraft flying around Africa, including Zambia, Tanzania, Zimbabwe and Uganda, operating on the 'Budget Airline' principle........what can possibly go wrong?!!!!!

Exactly! :-))

How many aircrafts do they have?

Have a look at the link in post 370 - the word aircraft appears 85 times!

It's all about the potential future - hence the gamble.

But here is a clue :-

Outlook
· Significant growth in fastjet year-on-year passenger numbers expected to continue, with the level of passenger numbers achieved reinforcing fastjet's stronghold in the Tanzanian market, and the attractiveness of both the low-cost fare structure and operational reputation.
· Growth for 2015 expected to come both from the Tanzanian operation and from the addition of new fastjet airlines in Zambia and Zimbabwe.
· Current fleet is now nearly fully utilised - extra capacity is required with a fourth aircraft due to join the fleet in Q3. The aircraft in question will be the first of a number of aircraft that fastjet is planning to add to the fleet this year, with each additional aircraft able to make up to 1,000 more seats per day available to customers. Based upon the 75% load factors currently projected, each aircraft in the fleet is expected to carry approximately 275,000 passengers per annum.
· Negotiations on further aircraft underway with target to build a fleet of up to 34 aircraft operating to 40 destinations within and from Tanzania, Zambia, Zimbabwe, South Africa, Kenya and Uganda by the end of 2018.

Thank you Skinny.
I think the reputation is the most important asset for them. Increasing load factor over last year has been positive. so, let's hope the share price perform better in the future.

fastjet launches new route to Malawi

30 June 2015

fastjet, Africa's low-cost airline, is pleased to announce it has been granted a Foreign Operators Permit from the Malawian authorities to commence flights between Dar es Salaam in Tanzania and Lilongwe, capital of Malawi. The new route will be put on sale from today and operations commence in July.

Initially operating twice weekly on Mondays and Fridays, fastjet is confident that, in line with its other routes, it will grow in frequency quickly.

fastjet's lowest fare will be $50 plus government taxes.

The new route is fastjet's sixth international destination in Africa.

fastjet Passenger Statistics for June 2015

Number of passengers carried up 23% year-on-year

fastjet operations in Tanzania carried a total of 65,216 passengers in June 2015, with a load factor of 69%. Compared with the same month of 2014, the number of passengers carried increased by 23%.

Punctuality for June remained excellent, with 95% of flights arriving on time Note 3.


more....

StockMarketWire.com
fastjet (AIM:FJET), Africa's low-cost airline, has noted the recent fall in its share price. It is down over 5% today.

The company says it knows of no material trading reason for the movement and confirms it is trading in line with market expectations.

fastjet Passenger Statistics for July 2015

Highest passenger numbers to date in July
fastjet operations in Tanzania have reported its highest number of passengers in July 2015, carrying a total of 71,763 passengers in the month, surpassing the previous record, achieved in April 2015, by over 3,600 passengers and a 36% increase on the same month in the prior year. The load factor for July was 72%.

The increase in passengers has been achieved in part by the commencement of flights to Malawi and additional flights to Mwanza. This has resulted in an aircraft utilisation figure in excess of 12 hours per day at the end of July.

Punctuality for July remained excellent, with 95% of flights arriving on time Note 3.

more....

astjet Fleet Expansion


fastjet (AIM:FJET), Africa's low-cost airline has signed a Letter of Intent (LOI) for the purchase of an Airbus A319 aircraft (the Aircraft). The Aircraft is expected to be ready for operations by the end of September 2015 and is planned as the first aircraft for the fastjet Zambia fleet.

Ed Winter, fastjet Chief Executive Officer commented: "Following our recent announcement of the fourth and fifth aircraft joining our fleet, the addition of this owned Aircraft by the end of September will see the fleet double in size to six once each of these aircraft are operational.

"Each additional aircraft is able to make up to 1,000 more seats per day available to fastjet's customers. Based on the 75% load factors currently being projected by fastjet, each aircraft in the fleet is projected to carry approximately 275,000 passengers per annum.

"Our successful fundraising in April 2015 was, in part, to fund the acquisition of aircraft. We conducted an extensive review of available aircraft and I am delighted to announce this milestone event."

fastjet Fleet Expansion - Lease Signed for 5th Aircraft


fastjet (AIM:FJET), Africa's low-cost airline, has signed an operating lease with SMBC Aviation Capital Limited (SMBC) for an Airbus A319 aircraft. This aircraft was originally announced on 10 July 2015 when the LOI was signed and will become the fifth aircraft in the fastjet fleet.

The aircraft will commence commercial services in Tanzania on 1 September, serving to expand the network in the region. This will include increasing the Dar es Salaam to Johannesburg route to a daily service.

Ed Winter, Chief Executive Officer of fastjet, commented: "Having reached our target figure for utilisation of our existing Tanzanian fleet, we are delighted to introduce an additional aircraft into Tanzania to satisfy the growing demand for our low-cost flights."

On 26 August 2015, fastjet announced it had signed a Letter of Intent (LOI) for the purchase of an Airbus A319 aircraft, planned for operation in Zambia. This aircraft will be the sixth aircraft in the fastjet fleet.

fastjet Passenger Statistics for August 2015

Record passenger numbers in August

fastjet operations in Tanzania have reported a record number of passengers in August 2015, carrying a total of 76,741 passengers during the month. The load factor for August was 75%.

The increase in passengers is in part due to the new routes to Malawi introduced in July 2015 and to increased frequency on some existing routes.

Punctuality for August remained strong, with 88% of flights arriving on time Note 3. This was lower than last month, mainly due to unexpected airfield closures in Dar es Salaam for military training.

Ed Winter, Chief Executive Officer of fastjet, said: "We are delighted to report record monthly passenger numbers for the second consecutive month, further affirming the growing appetite for low-cost aviation across southern and eastern Africa. August is traditionally a strong month but with a capacity increase of 23% versus August 2014, we are delighted to maintain such strong demand."

Appointment of Nomad and Joint Broker

Interim results for the 6 months to 30 June 2015

Operational highlights
H1 2015

· fastjet Tanzania
o 51% increase in aircraft utilisation (from 6.4 to 9.7 block hours per aircraft per day)
o 56% increase in total capacity (seats flown)
o 94% punctuality - (arrival earlier than or within 15 minutes of schedule)

· Legacy businesses
o Disposal of 100% of fastjet's holding in Fly 540 Ghana
o Loss-making services of Fly 540 Angola remain suspended
Q3 2015
· Routes
o New international route added from Dar es Salaam to Malawi
o Flight frequencies increased on many existing routes

· Aircraft
o Fourth fastjet Tanzania aircraft entered into service in September 2015
o First fastjet Zimbabwe aircraft, the fifth aircraft in the fastjet group fleet, arrived in Harare on 18 September 2015
o As announced today, first owned aircraft was delivered on 25 September 2015. The sixth in the fastjet group fleet and expected to be the first in the fastjet Zambia fleet

Financial highlights
H1 2015

· fastjet Tanzania
o First half revenues US$31.5 million (H1 2014 US$19.0 million)
o 7% increase in average revenue per passenger to US$86.61 (H1 2014 US$81.69)
o 56% increase in passengers carried to 363,769 (H1 2014 232,855)
o First half losses before tax of US$9.0 million (H1 2014 US$13.9m)

· fastjet Group

o Operating loss before exceptionals US$12.8 million (H1 2014 US$17.3 million)
o Operating loss after exceptionals US$12.8 million (H1 2014 US$19.8 million)
o Closing net cash US$70.0 million (H1 2014 US$17.9 million)
o US$75 million equity fund raise (before costs), significantly broadening the institutional shareholder base
o Share capital reorganisation - consolidation of ordinary shares on the basis of one new share of £1 each for every 100 shares of 1p each


Ed Winter, fastjet Chief Executive Officer, commented:

"Using the same assets as in H1 2014, three Airbus A319s, in H1 2015, through better utilisation we increased the number of seats flown by 56 per cent, total revenue increased by 66 per cent and operating losses reduced by 26%; a great achievement.

"Since then, in Q3 2015, we have doubled the size of the fleet to six and are well on our way to having three bases, Tanzania, Zambia and Zimbabwe fully operational by the end of the year. This expansion of the fleet and network is particularly important in laying the foundations for profitable growth in 2016

"Whilst we have seen these very significant improvements, African currencies have lost considerable value against the US dollar, which combined with a worldwide reduction in commodity prices, has caused an economic downturn in both Tanzania and Zambia. In addition, the start of operations in Zambia and Zimbabwe has been delayed into Q4. Accordingly the Board has downgraded its forecast for full year 2015 but is confident of meeting its expectations for 2016. "

Fastjet Fleet Expansion

fastjet Passenger Statistics for September 2015

fastjet operations in Tanzania carried a total of 76,595 passengers in September 2015 and achieved a load factor of 64%. Compared with the same month last year, the number of passengers carried has increased by 33%.

Month on month, capacity on the fastjet route network rose by 15%. The Company's fourth aircraft joined the fastjet Tanzania fleet on 1 September allowing for the introduction of daily flights between Dar es Salaam and Johannesburg. On 14 September, the frequency of flights on other routes increased with 5 daily flights to Mwanza and 4 daily flights to Kilimanjaro now offered from Dar es Salaam as well as daily flights from Kilimanjaro to Mwanza, Lusaka and Harare.

Punctuality for the month remained excellent, with 93% of flights arriving on time Note 3.

Ed Winter, fastjet Chief Executive Officer, said: "As outlined in our interim results statement on 28 September, difficult trading conditions in Tanzania have placed pressure on revenues and load factors. In light of this, and a significant increase in capacity, we are pleased to have achieved a load factor of 64%.

"I am also delighted to report that we are in the final stages of the Air Operator Certificate application process in Zimbabwe, with the demonstration flight having been completed on 30 September."

Change of Directorate

Skinny,
Any idea why it has fallen today?

Not really - a bit more here.

Assuming Avgas falls in line with the Brent crude price, it's a bit worrying that FJET aren't benefiting. I can't imagine they are big enough to hedge their fuel costs, so when crude goes up, margins are going to be squeezed even more, imo. I am not a holder.

StockMarketWire.com
fastjet, Africa's low-cost airline, has signed a sales and distribution contract with Emirates, the world's largest airline by international traffic.

The agreement that allows Emirates' passengers access to fastjet's growing route network across East and Southern Africa. Emirates passengers will be able to book fastjet tickets on all of Emirates' sales channels using a bespoke link between Emirates and fastjets reservations system. Emirates currently flies to over 140 destinations across the world, including 20 in Africa, while fastjet is rapidly becoming the leading pan African low-cost carrier. fastjet says the partnership will benefit both airlines with greater passenger traffic and will give travellers in Africa the opportunity to connect to the rest of the world through Emirates' Dubai hub with fastjet providing passengers from African towns and cities. fastjet chief commercial officer Richard Bodin said: "We are absolutely delighted to be working with such a highly regarded and successful airline. Not only will it allow us access to the millions of passengers that Emirates carries, it is also a significant validation of our operation, service and proven low-cost model. We look forward to greeting Emirates passengers on board our aircraft."

fastjet granted Air Service Licence in Kenya

fastjet (AIM:FJET), Africa's low-cost airline, is pleased to announce that fastjet Kenya Ltd has been granted an Air Service Licence (ASL) by the Kenya Civil Aviation Authority (KCAA). The granting of the ASL clears the way for fastjet Kenya to commence the application process for an Air Operator Certificate (AOC) which, once received, will allow the airline to operate domestic flights within Kenya.

The AOC application process will involve an in depth review of fastjet Kenya's planned safety management system, operational manuals and structures, its senior staff, fleet, maintenance facilities and technical capability. An early stage of the process includes agreeing a timetable for the application process with the KCAA.

Commenting on this significant development, fastjet Chief Executive Officer Ed Winter said: "The granting of the Kenya ASL is a major step forward in fastjet's plans to become a truly pan-African low-cost airline. Following recently announced progress towards the Zambia AOC and the receipt of our AOC in Zimbabwe last week, today's announcement signals a very substantial acceleration in the development of the fastjet network and our future growth plans.

"We are very pleased that the Kenyan Civil Aviation Authority has recognised the important part that we can play in developing Kenyan aviation. We very much look forward to working with the KCAA towards fastjet Kenya's first flights."

Liberum Capital Buy 88.00 87.00 230.00 230.00 Reiterates

LOL....in your dreams!

Perchance to dream! :-)

StockMarketWire.com
Fastjet operations carried a total of 73,758 passengers in October and achieved a load factor of 63%.

The amount of seats offered across the network has grown by almost 14,000 compared to October 2014 (a 23% increase in capacity).

Due to the launch of fastjet Zimbabwe on 28 October, the two flights that operated between Harare and Victoria Falls in October feature in the total.

Punctuality for the month remained excellent, with 91% of fastjet Tanzania flights arriving on time, despite some severe weather that resulted in flooding across Tanzania.

Chief executive Ed Winter said: "The load factor this month has been significantly affected by a change in market demand in Tanzania due to the presidential elections. We expected a downturn in the few days leading to the election and on the day itself. However, due to the unusually competitive nature of this year's elections, people tended to suspend travel plans until the inauguration. There have been no significant reports of civil unrest in the country and I am pleased to report that bookings are beginning to return to expected levels. "I am also delighted with the successful launch of fastjet Zimbabwe. We have clearly captured the imagination of the Zimbabwean market having sold over 2,600 seats in a few short weeks on our first route which links Harare with Victoria Falls. We are working hard on growing the network to and from Zimbabwe and our applications to operate to various regional countries have already been sent by the Civil Aviation Authority of Zimbabwe."

fastjet Passenger Statistics for November 2015 and Launch of new route

fastjet operations carried a total of 62,843 passengers in November 2015. The load factor for the month was 60%, down 3% on the prior month, primarily due to the prolonged effect of the presidential election in Tanzania, which has yet to result in a Cabinet being appointed or a budget being agreed. This has reduced demand from governmental and civil service traffic, and had an adverse effect on travel more widely in the country.

Severe weather in November led to a slight reduction in punctuality, with 84% of fastjet Tanzania flights arriving on time Note 3. However, 100% of fastjet Zimbabwe flights arrived on time, an excellent performance in its first month of operation.

During the month, fastjet also launched a new route between Dar es Salaam, Johannesburg and Zanzibar. Tickets for the new route are currently on sale, with operations commencing in January 2016 with daily flights between Dar es Salaam and Zanzibar.

fastjet launches flights to Kenya


fastjet (AIM: FJET), Africa's low-cost airline, is delighted to announce that fastjet Tanzania has been given clearance by the Kenyan government to operate flights between Kenya and Tanzania under the Bilateral Air Services Agreement between the two countries, as previously approved by the Tanzanian Government. Two new routes, Dar es Salaam to Nairobi, and Kilimanjaro to Nairobi are on sale from today, with one way fares starting from as low as at USD80 and USD50 respectively, plus tax.

From 11 January 2016, fastjet Tanzania will operate a daily flight between Dar es Salaam and Nairobi and between Kilimanjaro and Nairobi. Flights between Zanzibar and Nairobi and Dar es Salaam and Mombasa are also expected to be added to the network later in 2016.

StockMarketWire.com
fastjet, Africa's low-cost airline, operated its first flights to Kenya yesterday, with planes taking off from Dar es Salaam and Kilimanjaro in Tanzania bound for Nairobi's Jomo Kenyatta International Airport. Flights are set to operate daily, with one way fares starting from as low as at USD80 and USD50 respectively, plus tax. fastjet Tanzania was given clearance by the Kenyan government as announced on 23 December 2015 to operate flights between Kenya and Tanzania under the Bilateral Air Services Agreement between the two countries, as previously approved by the Tanzanian Government.

Hmmmm.

Trading Update

fastjet (AIM:FJET), Africa's low-cost airline, today provides an update on current trading and its operations.

Further to the operational update in December 2015, the challenging market conditions affecting much of the African aviation industry have been a lot more prolonged than management originally forecast.

fastjet has already taken action to manage its operating costs and overheads and is implementing further measures including reducing capacity and rationalising the route network to align it with current demand.

Based on current management forecasts, the Board expects results for 2016 to be materially below market expectations and the Group no longer expects to be cash flow positive for the year.

The Board monitors the Company's cash position very carefully and with over $20m of cash available at the end of February 2016, and based on current forecasts, it has sufficient funds to meet its operational requirements. The Board may consider raising further funds during the year to provide additional headroom and ensure the Company has the necessary resources to fund future growth as market conditions improve.

The Company remains confident in its low-cost airline model and is well positioned to capture the significant growth potential of the developing African aviation market.

ENDS

It was always a high risk investment imo. Sorry to see the risk hasn't paid off. Hope you aren't over exposed skinny?

No @0.25% of my pot at the outset - somewhat less now!

Bloomberg reporting that FJET are to close certain routes in order to protect their core business.

http://www.bloomberg.com/news/articles/2016-03-07/fastjet-to-cut-routes-as-cash-dwindles-sending-stock-tumbling

StockMarketWire.com
fastjet is taking legal advice over a public letter from easyGroup Holdings relating to its contractual relationship with the company

fastjet says the board has noted that easyGroup chose yesterday to make immediately public a letter which it sent to fastjet.

fastjet says that while the board welcomes constructive engagement with all shareholders, it cannot understand why easyGroup, acting as either a 12.6% shareholder or brand owner, has published this particular letter without first raising its concerns with the company.

The board considers the publication of this letter as wholly inappropriate and is taking legal advice on the matter. The company holds easyGroup responsible for any damage caused to the business by the publication of this letter.

StockMarketWire.com
fastjet has announced that Tim Ingram, easyGroup Holdings Ltd's representative on the board of fastjet, has resigned with immediate effect.

Non-executive chairman Colin Child said: "The board has regrettably accepted Tim's resignation. I would like to thank Tim for his contribution and professionalism during his time on the Board and wish him well for the future."

Looks like its imploding. Not good that easygroup man goes!

StockMarketWire.com
fastjet's board has noted that easyGroup Holdings Ltd made public yesterday a letter dated 22 March which it has sent to fastjet relating to the brand licence agreement in place with the company. fastjet says the board is currently reviewing the letter with its legal advisers and will respond in due course. The Company has no further comment to add at this time and further announcements will be made as appropriate.

StockMarketWire.com
fastjet is taking legal advice over a letter it received from easyGroup on Tuesday about the brand licence agreement, which easyGroup made public on the same day.

The letter alleges that there have been a number of breaches of theagreement and requests a response from the company answering the points raised by noon on 31 March.

The company notes that if its answers are not provided by that time easyGroup has indicated that it intends to issue a notice to terminate the brand licence and may seek injunctive relief if that termination notice is not complied with. The board says it is currently reviewing the letter with its legal advisers and intends to provide a formal response to easyGroup in due course.

Fastjet Response to easyGroup letter of 22 March
As previously announced, easyGroup Holdings Ltd ("easyGroup") made public a letter dated 22 March 2016 which it had sent to fastjet relating to the Brand Licence Agreement in place with the Company.

The letter alleged that there have been a number of breaches of the Brand Licence Agreement and requested a response from the Company answering the points raised in their letter by 12 noon on 31 March 2016.

The Board has reviewed the letter and has today provided a formal response to easyGroup. Having taken legal advice, the Board does not believe fastjet is in breach of the Brand Licence Agreement.

Operational Update
fastjet (AIM: FJET), today provides an update on its application for a Zambian Air Operator Certificate ("AOC").

Further to the trading and operational update in March 2016, and as part of the Company's rationalisation of its routes to match current demand with capacity, fastjet has decided to delay its application for a Zambian AOC, to Q4 2016 pending further review of the network.

fastjet Tanzania will continue to operate international services three times a week between Dar es Salaam and Lusaka on the circular route Dar es Salaam/Lusaka/Harare/Dar es Salaam.

Operational Fleet Update

fastjet (AIM:FJET), today provides an update on its aircraft fleet.

Further to the trading and operational update in March 2016, and as part of the Company's ongoing review of its routes and fleet in order to match current demand with capacity, fastjet has agreed the early termination of the lease on one of its A319 aircraft. The aircraft, which was scheduled to come to the end of its lease term in October 2016, will come out of service immediately.

Following the return of this aircraft the fastjet fleet will comprise five aircraft, four leased (one of which comes to an end in Q4 2016) and one owned. The Board will continue to keep the fleet size under review.

ENDS

Directorate Change

The Board of fastjet (AIM: FJET) is pleased to announce the appointment of Nico Bezuidenhout as Chief Executive Officer (CEO) of the Company. Nico will take up his position and join the Board as an executive director on 1 August 2016.

Nico will be joining fastjet from Mango Airlines, the low-cost carrier subsidiary of South African Airways, where he has been CEO since Mango commenced operations ten years ago. During his tenure, Nico grew the airline's market share to 25 per cent of the South African domestic air travel market and the fleet to ten Boeing 737-800 aircraft. He also achieved the lowest unit cost within the South African aviation industry through high aircraft utilisation and sustained good load factors.

In addition to playing a pivotal role in the success of Mango, which has been profitable in eight of the past ten years, Nico has also twice acted in the capacity of interim CEO of its parent company.

more....

StockMarketWire.com
fastjet, the low-cost African airline, has written to shareholders in relation to the resolution to be proposed at the general meeting on 28 June. The purpose of the letter is to set out the background to the GM and the board's recommendation that shareholders should vote against the easyGroup resolution. The letter is available to view and download from the company's website: www.fastjet.com

StockMarketWire.com
fastjet's trading environment remains challenging and although the yield per passenger continues to improve from its low point in October passenger numbers remain lower than expected, shareholders at the annual general meeting today will be told.

Chairman Colin Child will says that while domestic routes within Tanzania are showing signs of recovery international services remain difficult.

Passenger numbers of 390,000 are forecast for the first half ending 30 June (2015: 363,726) but load factors have declined to 47% (2015: 70%) reflecting the increase in available capacity in the past 12 months.

He will says: "As announced on 9 June 2016 Nico Bezuidenhout will be joining the Group on 1 August 2016. Although he has yet to join the Company, the Board and Nico have already identified a number of opportunities to stabilise the business and address many of the challenges we face. These include a fundamental review of our fleet, both the size and type of aircraft operated, the routes flown, the relocation of our Head Office to Africa and revenue generation initiatives.

"Although the ongoing cost reduction programme and the recent reduction in routes and fleet size are yielding material benefits the Group continues to be cash flow negative. Accordingly, the Company needs to raise further finance to provide essential working capital and also to effect the necessary changes to its operations, reduce costs further and pursue revenue generating initiatives to grow the business. The Group has therefore commenced the initial phases of a fund raising exercise which it plans to complete during July 2016.

"The Board believes that with a new CEO, who has a proven track record of successfully operating a low cost carrier in Africa, combined with a more pragmatic approach to operating the business, a much reduced cost base and management positioned in proximity to our markets and customers the Group has a viable and attractive future."

Proposed Placing and Open Offer

fastjet, the low-cost African airline, is pleased to announce a proposed capital raising to raise gross proceeds of £15 million through the issue of new ordinary shares by way of a placing (the "Placing") and additional gross proceeds of up to approximately £4.2 million (being the €5 million maximum amount permitted not requiring the publication by the Company of a prospectus under the Prospectus Rules) through the issue of up to 8,302,762 new ordinary shares by way of an open offer (the "Open Offer") (together the "Capital Raising"), all at 50 pence per new ordinary share (the "Issue Price").

The Issue Price of 50 pence represents a significant premium of approximately 116 per cent to the closing price of each existing ordinary share of fastjet of 23.13 pence on 20 July 2016 (being the last practicable date prior to publication of this Announcement). The Issue Price has been set at a premium to the current share price so as to enable a number of the existing shareholders to satisfy their internal ownership limits. These shareholders, representing over 50% of the share register, have indicated they are supportive of the proposed Placing which will provide the Company with sufficient funds to execute its new business plan.

The Placing which is being conducted by way of an accelerated book-building process to qualifying investors will be launched immediately following this Announcement, in accordance with the terms and conditions set out in the Appendix to this Announcement.

Participants in the Placing and Open Offer will, if the Capital Raising becomes unconditional, also be issued with warrants ("Warrants") on the basis of one Warrant to subscribe for one new ordinary share in the Company for every new ordinary share subscribed under the Capital Raising. The Warrants will have an exercise price of 31.5 pence per share (based on a share weighted average of the 23.13 pence closing price on 20 July and the Issue Price) and an exercise period from the date of issue until 31 July 2021. The Warrants will be exercisable immediately from the date of issue but will not be initially listed or admitted to trading. However, the Company intends to seek a listing and admission to trading of the Warrants on an appropriate exchange as soon as practicable.

Liberum Capital Limited ("Liberum") is acting as sole bookrunner ("Bookrunner") on the Placing. The Placing and Open Offer are not being underwritten.

The Placing and Open Offer are each conditional upon, inter alia, the approval by shareholders in a General Meeting of the Company ("General Meeting") and admission of the ordinary shares placed pursuant to the Capital Raising to trading on AIM ("Admission").

The Company will shortly be publishing a circular (the "Circular") in connection with the Capital Raising and will be convening a General Meeting to approve certain matters necessary to implement the Capital Raising (the "Authorising Resolutions").

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.

Bit of action here today. Topped up two weeks ago at .25

Fastjet PLC (LON:FJET), up 7.9%. Options shave been granted to directors that are exercisable at 31.5p. The shares rose 1p to 26.25p on the news.

Interim Results

Operational Fleet Update

03 October 2016

fastjet (AIM:FJET), Africa's low-cost airline, announces that it has entered into a binding sale agreement with Avtrade Limited, of its sole owned Airbus A319 (Manufacturer's Serial number 2891). The consideration is being satisfied in cash for USD8.0 million with a 10% deposit payable on signature of the agreement and the balance on delivery. The agreement is subject to industry standard conditions precedent. Included in the agreement is an option to continue to operate the aircraft from Oct 3 to Oct 17 2016 with a reduction in proceeds of $200,000 for a usage of up to 100 cycles. The use of proceeds will be utilised as working capital for the implementation of fastjet's Stabilisation Plan as outlined in the Company's interim results announcement.

As previously announced, fastjet is reducing the size of its fleet and is transitioning its fleet from the existing A319 aircraft to smaller aircraft, a move which is expected to yield an approximately 15% cost reduction for fuel, maintenance, handling and navigation charges. The transition from the existing aircraft to the replacement fleet will initially be arranged through short term wet leases (aircraft, crew, maintenance and insurance). It is intended that the wet lease arrangements will be superseded by dry leases (aircraft only) in H1 2017.

Trading Update and Directorate Change

25 November 2016

fastjet (AIM:FJET), Africa's low-cost airline, today provides an update on current trading and its operations, in particular the progress it has made with its Stabilisation Plan and the Company's current outlook.

STABILISATION PLAN

Fleet

Further to the operational fleet update on 3 October 2016, the Company has continued to implement the Stabilisation Plan and is transitioning its fleet from the existing 145-seat A319 aircraft to smaller aircraft, initially through short term wet leases (aircraft, crew, maintenance and insurance), to be superseded by dry leases (aircraft only) in the start of H2 2017. Material progress has been made and two-thirds of the Company's A319 aircrafts have now been removed from fleet and the first wet-leased Embraer e-Jet E190 aircraft was introduced in Tanzania during October 2016.

Based on initial experience with the aircraft the Board remains confident that the original expectations of a 10 - 15% reduction in operating cost will be achieved whilst seat occupancy rates on flights conducted with the E190 has to date showed an 18-percentage point increase and average yields have increased by approximately 12%.

Rationalisation of routes

The Company has continued the process of assessing its route network and has aggressively rationalised routes and/or reduced frequencies to more sustainably match supply levels with demand. This process is nearing completion, with rationalisation of flight activities between Tanzania and Kenya, Tanzania and Uganda as well as between Tanzania and Zimbabwe taking effect on 5 December 2016. Service frequency between Harare, Zimbabwe and Johannesburg, South Africa, has been increased whilst services between Johannesburg and Victoria Falls, Zimbabwe, will be suspended as from next month. The remaining routes within Zimbabwe and Tanzania, and between these countries and South Africa, are all projected to positively contribute to fixed cost during December 2016 and will continue to be closely monitored thereafter.

Organisation

The process of relocating the Company's Head Office function from London to Johannesburg has commenced, and is expected to be substantially completed by March 2017, with timings influenced by contracted notice periods and business continuity in critical functions. In this regards the Company expects annualised Head Office cost-savings of c.35% whilst achieving increased responsiveness to Passenger needs, resulting from being in closer proximity to the Company's operating markets.

The Company has furthermore embarked on an organisational restructuring process in both Zimbabwe and Tanzania, the consequence of which is a substantial reduction in the size of our expatriate workforce in these countries and a greater reliance on local talent, which will result in significant cost savings.

Revenue generating initiatives

The Company has successfully integrated a Global Distribution System (GDS) which facilitates access by Travel Agencies to fastjet's inventory, generated its first passenger-flows from its interline agreement with Emirates, and introduced new fare products aimed at connecting the various fastjet routes into single passenger journeys. These measures, along with continued leverage of fastjet's growing social media presence, has supported revenue generation despite a reduction in seats flown.

OUTLOOK

Based on the steps taken in stabilising the business, we expect Q1 2017 to show a c.25% reduction in fixed operating cost & overheads year on year and a c.35% reduction in variable operating cost year on year, in aggregate amounting to c. US$8m and contributing to a significant improvement in Q1 2017 performance relative to the current year. Although the Company has made good progress in executing the Stabilisation Plan, and fastjet is entering its busiest trading period, additional costs associated with delivering the stabilisation plan, in particular the cost and terms associated with returning leased aircraft being more onerous than previously expected, has placed greater strain on available cash-resources. For this reason, as well as allowing the Company to pursue possible synergistic opportunities identified by the CEO, the Company needs to raise further capital and expects to initiate a fundraising exercise which it plans to complete in Q1 2017.

more.....

Didn't they raise more cash by issuing more shares in June? Now they need yet more?????? I wonder how much the Directors are paying themselves. I bet their salaries are ring fenced!

Surely with very low fuel costs that should offset any other unexpected costs?

As I posted in Jun last year:
HARRYCAT View HARRYCAT's profile - 23 Jun 2015 14:09 - 378 of 428 edit this post

10 aircraft flying around Africa, including Zambia, Tanzania, Zimbabwe and Uganda, operating on the 'Budget Airline' principle........what can possibly go wrong?!!!!!

StockMarketWire.com
Africa low-cost airline fastjet's chairman Colin Child has resigned after the company confirmed it needed to raise further capital and expected to initiate a fundraising exercise which it plans to complete in the first quarter of 2017.

Having led a fundraising exercise in July, he believes that it would not be appropriate for him to continue in this role given the company is initiating, sooner than originally expected, a further fundraising exercise.

The company says that further to the operational fleet update on 3 October, it has continued to implement the stabilisation plan and is transitioning its fleet from the existing 145-seat A319 aircraft to smaller aircraft, initially through short term wet leases (aircraft, crew, maintenance and insurance), to be superseded by dry leases (aircraft only) in the start of H2 2017.

It says material progress has been made and two-thirds of the company's A319 aircrafts have now been removed from fleet and the first wet-leased Embraer e-Jet E190 aircraft was introduced in Tanzania during October 2016.

Based on initial experience with the aircraft the board remains confident that the original expectations of a 10-15% reduction in operating cost will be achieved while seat occupancy rates on flights conducted with the E190 has to date shown an 18-percentage point increase and average yields have increased by approximately 12%.

The company says it has continued the process of assessing its route network and has aggressively rationalised routes and/or reduced frequencies to match supply levels with demand.

This process is nearing completion, with rationalisation of flight activities between Tanzania and Kenya, Tanzania and Uganda as well as between Tanzania and Zimbabwe taking effect on 5 December.

Service frequency between Harare, Zimbabwe and Johannesburg, South Africa, has been increased whilst services between Johannesburg and Victoria Falls, Zimbabwe, will be suspended as from next month.

The remaining routes within Zimbabwe and Tanzania, and between these countries and South Africa, are all projected to positively contribute to fixed cost during December 2016 and will continue to be closely monitored thereafter.

Looking ahead it says: "Based on the steps taken in stabilising the business, we expect Q1 2017 to show a c.25% reduction in fixed operating cost & overheads year on year and a c.35% reduction in variable operating cost year on year, in aggregate amounting to c. US$8m and contributing to a significant improvement in Q1 2017 performance relative to the current year. Although the Company has made good progress in executing the Stabilisation Plan, and fastjet is entering its busiest trading period, additional costs associated with delivering the stabilisation plan, in particular the cost and terms associated with returning leased aircraft being more onerous than previously expected, has placed greater strain on available cash-resources.

"For this reason, as well as allowing the company to pursue possible synergistic opportunities identified by the CEO, the company needs to raise further capital and expects to initiate a fundraising exercise which it plans to complete in Q1 2017."

Fastjet also announces that non-executive chairman Colin Child has resigned from the company Having led the fund raising exercise in July this year he believes that it would not be appropriate for him to continue in this role given the company is initiating, sooner than originally expected, a further fund raising exercise.

Non-executive director Rob Burnham said: "Colin has chaired the Board through a period of considerable organisational change and demonstrated a total commitment to the success of the Company which has been much appreciated by his colleagues."

Child said: "Although the trading and operational environment has been challenging I have much enjoyed my time on the fastjet Board. I leave the Board with an extremely good and experienced CEO in place and I have every confidence that he will successfully complete the Stabilisation Plan and pursue some exciting strategic initiatives that will allow fastjet to deliver its full potential."

Chief executive Nico Bezuidenhout will assume the role of interim chairman pending the appointment of a new non-executive chairman in due course.

In at 100 Out at about 26p a month or so ago not looking good here glad I'm out..

StockMarketWire.com
fastjet is raising at least $48m through a proposed placing and an agreement with Solenta Aviation, a specialist African commercial aviation group based in Johannesburg.

fastjet has entered in to a conditional agreement with Solenta Aviation for the provision and operation of three wet-leased aircraft and the supply of other services over the next five years.

The company has also announced a proposed placing to raise gross proceeds of not less than US$28.8 million through the issue of new ordinary shares at 16.3p apiece.

Under the agreement, Solenta will become a c. 28% shareholder in fastjet.

fastjet has agreed to issue Solenta c. 95.6 million new ordinary shares to acquire a Solenta group SPV that will own the right to enter into the three ordinary course wet-leases and to receive discounts to the value of US$19.2 million on the future cost of services provided by Solenta.

Interim chairman and chief executive Nico Bezuidenhout said: "Our agreement with Solenta represents a good operational and strategic fit. It provides fastjet with access to fleet and related services which, together with the funds raised through our proposed Placing, will allow us to successfully implement the final stages of our Stabilisation Plan. We have made good progress with the Plan and the near-term priority continues to be to fully stabilise the business and to reach cash flow break even by the fourth quarter of this year. As well as helping us to achieve this objective, the fundraising and Solenta Agreement will also provide the platform from which to flexibly and cost-effectively pursue fastjet's medium to long-term objective of becoming the first truly pan-African low-cost airline."

Can FastJet really double, or more? - By Alistair Strang | Tue, 24th January 2017 - 10:17

It has been a few months since we last looked at FastJet (FJET). The price managed to achieve our 13.5p, actually beating it briefly at the open and in the period since, the share has achieved a degree of recovery.

As the chart illustrates, the price has sleepwalked through the downtrend since 2015 and done exactly nothing since. We'd be nervous advocating any near-term rise potentials until such time it starts trading above 19.5p as growth to an initial 24.5p looks about right.

Better still, with closure above 24.5p, there's a strong argument favouring 35p and a period of almost certain stutters.



The chart shows a few previous occasions when the share reached such a level before the trend break occurred, and doubtless selling pressure will slow down any future rise as the folk trapped since June 2016 bail at break-even.

However, we can extrapolate a doubtless distant 65p should the price ever manage to actually close above 35p. Amazingly, this coincides suspiciously neatly with the circled gap.

If trouble is planned, should it find any reason to visit 13.5p again, we'll be inclined to move seats to the upright position, place our head between our legs, and kiss our "a**e goodbye". Bottom is at a best guess 4.1p.

StockMarketWire.com
Operating losses at low-cost African airline fastjet rose to $63.9m in the year to the end of December - up from $37.9m last time.

The group reported a loss after tax of US$48.0m (2015: loss after tax US$21.9m) on revenues up 5% at US$68.5m (2015: US$65.1m).

It said the results in large part reflected decisions in early 2015 to introduce too many new routes, expand the fleet and deploy capacity beyond market demand.

fastjet said its stabilisation plan was addressing these issues and although benefits were already being realised, primarily in cost reduction, the full benefit would only be seen as it progressed through the new financial year.

As a result of the operating loss for the year the group incurred a significant operating cash outflow which resulted in a cash balance at the year-end of US$3.6m (2015: US$28.9m).

Chief executive Nico Bezuidenhout said: "2016 was a challenging year and these financial results reflect not only a difficult market place but also the overly optimistic expansion plan adopted in early 2015.

"Since I became CEO on 1 August 2016 we have successfully initiated a Stabilisation Plan to address the immediate challenges.

"However, although good progress has been made many of the Plan's benefits to reduce our cost base, and match capacity with demand, have naturally taken time to feed through and as such will only be materially realised in 2017.

"Nevertheless, the effects of the Stabilisation Plan in the second half of 2016 saw fastjet withdraw from a number of loss-making routes and remove surplus capacity such that while between July and December, capacity was reduced by 25%, passenger numbers were only down by 3% and revenues rose by 5%.

"The final stages of the Stabilisation Plan are now implemented and the strong progress we have made means that fastjet's cost base will be significantly reduced by the third quarter of 2017 and that we are well on the way to fulfilling our baseline aim of achieving a cash flow break even position by the fourth quarter of 2017.

"Since the year-end, fastjet has completed a US$28.8m fundraising, entered into a strategic and operational partnership with Solenta, and significantly strengthened our Board.

"With these initiatives building on the benefits of the Stabilisation Plan, and although a number of challenges remain, fastjet is now close to being sufficiently stable and well positioned to be able to consider disciplined growth opportunities in our target African markets."

I trust no one on here own's shares in this outfit at the moment?

I don't but think others might.
It has always been a high risk investment imo, but we all make our own decisions.

Absolutely, maybe as a HR trading share.

I've still got a few of these - not worth the selling cost!

Trading Update

30 June 2017

fastjet, the low-cost African airline, is today providing an update on trading for the period from 1 January 2017 to date, ahead of its Annual General Meeting to be held later today.

The Company has made steady progress in implementing stabilisation efforts, including inter alia, a re-fleeting process, relocation of its headquarters from London to Johannesburg and a right-sizing of its operations in Zimbabwe and Tanzania. These steps are having the desired effect and accordingly fastjet aims to achieve a cashflow break-even position for the final quarter of 2017. The Company, aiming to leverage its relationship with Solenta Aviation Holdings, a strategic investor who acquired a shareholding in fastjet in January 2017 and who has an operational footprint in a number of African countries, is in the process of evaluating expansion options to further geographies and looks forward to making further announcements in due course.

The Company also announces that it has, on 29 June 2017, entered into an agreement with easyGroup Holdings Ltd to acquire all intellectual property rights associated with the fastjet brand for a total consideration of $2.5 million, to be satisfied in cash, resulting in saving to the Company over the next 5 years. This agreement represents a major step forward as the Company continues with its stabilisation efforts under new management.

Sir Stelios Haji-Ioannou, who established the fastjet brand in 2012 and founded easyJet in 1995, stated:

"fastjet is a great brand in all its African markets, making it a highly valuable asset for the company. I have accepted the view of the current board that the company should own its own brand rather than licence it from me. I feel we have agreed a fair price for its transfer - $2.5m - which is less than what the company would have had to pay over the next five years. I still hold shares worth about £1.3m in the company and as such I will be a supportive shareholder, hoping to realise significant upside potential as fastjet grows and prospers. From the decisive actions thus far taken by the new Management and Board, and early indicative outcomes, I am encouraged that fastjet's direction of travel is now on the right course"

Nico Bezuidenhout, CEO of fastjet, appointed in the latter part of 2016, stated:

"Brand development is an integral part of building a successful consumer facing business and represents a substantial investment for any airline - it logically follows that your brand, an asset to be leveraged for the benefit of Shareholders, should be under your full control and ownership. We are happy to have reached agreement with Sir Stelios and appreciate the ongoing confidence he has expressed in the fastjet business and leadership team."

Fastjet, at the airshow held in Paris last week, was awarded the prestigious Skytrax award as Best Low Cost Carrier in Africa.

Am thinking about buying a few... (not worth putting a stop loss on as trigger will also mean belly up...)

or get taken out on first trading day when buy/sell spread is wide

or get taken out on first trading day when buy/sell spread is wide

I am struggling to think of a good reason to buy into this company. I can think of a shed load of reasons not to!
Just my opinion, but the risks far outweigh the positives.

Pick another airline if you have to HC,

Sleazy a better option inmo

Proposed Fundraising
Highlights:
· The Stabilisation Plan that commenced late last year has been successfully executed with the Company on track to reach its target of cashflow breakeven in Q4 2017.

· The Company has made material progress in the past 12 months placing the business on a substantially more stable platform
o Increased revenue and decreased costs;
o Monthly profitability has been achieved by Tanzanian operations; and
o The Company has had its first cash-flow positive month in Zimbabwe in August 2017.

· fastjet has phased out all expatriate staff, concluded the closure of its Gatwick head office and successfully migrated the Head Office from the UK to South Africa.

· As a result, fastjet today announces a proposed fundraising to support its growth initiatives by way of an accelerated book build and a subscription to raise gross cash proceeds of not less than US$44m, which is strongly supported by the Company's major institutional shareholders, including Solenta Aviation Holdings Limited ("SAHL") who will increase their holding and become a 29.9% shareholder in fastjet post the fundraising.

· As part of its growth initiatives the Company will enter into a number of agreements to expand into South Africa and Mozambique
o Brand licence agreement with Federal Airlines (Pty) Ltd ("Fedair"), an established profitable airline with a fleet of four owned aircraft, operating 17 aircraft and with a South African air operator's certificate ("AOC"); and
o Brand Licence Agreement with Solenta Aviation Mozambique Ltd ("SAM"), a business currently operating charter services in the Oil and Gas industry within the country and utilising its existing AOC in Mozambique for the launch of fastjet Mozambique.

· fastjet will also enter into an additional agreement giving it access to three ATR 72-600 aircraft for 10 years equipping fastjet with the appropriate aircraft to benefit from these new market opportunities.

· As part of its expansion plans, the Board has also decided it intends to evaluate a dual listing of the Company on the AltX market of the Johannesburg Stock Exchange in the next 12 months.

· The fundraising together with the new agreements will allow fastjet to expand its brand network to now cover South Africa, Mozambique, Zimbabwe, Tanzania and Zambia as well as diversify revenue streams and lay the foundations for future profitable growth in a major step forward in fastjet's long term ambition to become the leading pan African low cost airline.

Interim Results for the six months to 30 June 2017
Highlights
· New executive team; Board reconstituted
· Stabilisation Plan substantially completed; fastjet now well-positioned for targeted geographic expansion
· Losses down 57% year on year
· Negative cash flow from operating activities reduced to US$(21.4m) (2016: US$(25.6m))
· On track to achieve target of cash flow break-even by Q4 17
· On 29 June 2017, fastjet purchased its brand from easyGroup Holdings Ltd for $2.5m


Operational headlines
· Fleet adjustments delivering clear benefits
Ø Revenue per seat up 30% year on year
Ø Load factors up 18% year on year
· Move of fastjet's headquarters from UK to Africa completed
· Growing passenger flows from the Emirates Interline agreement
· Named Africa's Leading Low-Cost Airline 2016 at the World Travel Awards and Best LCC in Africa at 2017 Skytrax World Airline Awards


Commenting on the results, fastjet Chief Executive Officer Nico Bezuidenhout, said: "The first six months of 2017 was both a rewarding and challenging period for fastjet.

"I am pleased with the considerable progress made during the period, with significant cost reductions across the business, the successful migration of fastjet's headquarters from Gatwick to South Africa and a renewed commercial impetus that, as expected, is delivering real benefits. We have focused on successfully implementing the Stabilisation Plan announced a year ago, while simultaneously examining potential commercial opportunities.

"As the Stabilisation Plan was delivered, improvements in distribution, reach and marketing efficiency drove yield and volume, and efficiencies in average fares, distribution channels and currency mix were achieved. This resulted in cost efficiencies and revenue improvement with a 30% increase in revenue per available seat. Average load factors for the period were 65.4%, up from 47.8% in the first half of 2016.

"Our re-fleeting plan is on track and by the end of the year fastjet will have replaced its fleet of A319s with three Embraer E145 and two Embraer E190 aircraft and have launched in at least one new market in the region. fastjet has taken full brand ownership of its trademarks and identity from easyGroup, empowering the business to further mould itself into an Africa-appropriate, relevant and operationally-suited business.

"I am proud of our achievements, which have occurred in a relatively short timeframe. While there remains a lot of work to be done, our initiatives are delivering clear, positive results and we are on track to achieve our target of cash flow break-even by the fourth quarter of this year. Having stabilised the business, we are looking forward with confidence to the next stage of fastjet's development and geographic expansion."

StockMarketWire.com
African budget airline Fastjet trimmed losses in the year through December as costs fell 46% but revenue slumped 32.6% amid a fall in passenger numbers. The company also announced it would tap investors for more funds to shore up working capital for the remainder of the year.

For the 12 months to 31 December, losses before tax narrowed to $24.4m from $67.5m the previous year, revenue fell 32.6% to £46.2m and operating losses were 61% lower at $25.3m compared with $65.6m the previous year.

Revenue per seat rose 30% to $60.9 from $46.9

The firm blamed the fall in total revenue on weaker passenger number, which fell 31% for the year compared to the previous year, as the company nearly halved its capacity as part of its cost cutting programme.

Total costs decreased by 46% to $70.7m from $136.2m.

Fuel accounted for 19% of total costs, while maintenance, reserves and engineering of the aircraft accounted for 8% of costs.

FastJet also said that it would raise at least $10m in a share placement - this comes after the company warned earlier this week that a severe funding crunch may cause it to halt trading.

'In 2017, the successful implementation of our Stabilisation Plan saw us realign our network, withdraw from loss making routes, reconfigure our fleet, migrate the Group's headquarters to Africa, and significantly reduce our cost base. These actions have resulted in a substantially reduced loss for 2017, said Nico Bezuidenhout, fastjet Chief Executive Officer. 'As part of our targeted network expansion strategy, the first fastjet branded flight in Mozambique took off last November and over the next 18 months we have a programme of further measured expansion of services in Mozambique and, subject to appropriate fleet expansion, new services in South Africa.'

Posting of Open Offer Circular

Posting of Open Offer Circular

fastjet, the low-cost African airline, is pleased to announce that, further to its announcement of 29 June 2018, it will today post a circular (the "Circular") to Qualifying Shareholders regarding an Open Offer of approximately £1.6 million. The Circular will also be made available today on the Company's website www.fastjet.com.

All capitalised terms in this announcement have the same meanings as those given to them in the Circular, unless the context otherwise requires.

The Open Offer is being made to Qualifying Shareholders on the register as at the Record Date, being close of business on 3 July 2018, for up to 20,092,623 Open Offer Shares at 8 pence per Open Offer Share (being the same price as the Issue Price for the Placing) on the basis of:

1 Open Offer Share for every 26 Existing Ordinary Shares

Qualifying Shareholders are also being given the opportunity, provided that they take up their Open Offer Entitlements in full, to apply for additional Open Offer Shares through an Excess Application Facility.

Full details of the Open Offer, including terms and conditions and details on how to accept the Open Offer, are set out in the Circular, which will be posted to Qualifying Shareholders today and available on the Company's website.

Application has been made for the Open Offer Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission"), and it is expected that Admission will become effective and that dealings will commence in the Open Offer Shares at 8.00 a.m. on 30 July 2018.

Following the issue of the Open Offer Shares (assuming full take-up under the Open Offer), the enlarged ordinary share capital of the Company will be 637,920,676 Ordinary Shares.

I would be surprised if that is fully subscribed. I can't think of any reason why private investors would throw more money into the pot.