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."

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..