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."

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