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.

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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."

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