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."

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.