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."

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