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.

------------------------------------------------------------------

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."

Director buys 1,000,000 shares at 0.986 missed the boat there did,nt he,even I got in miles cheaper than that

Id watch it like hawkeye. Same posters who have taken it up may well take it back down tomorrow. Just seen the usual suspects across the road as holders.

Do I sense some nut cases are not in?

They missed the bottom or they had no "balls" to buy at lows,
no wonder they are negative?
That would not happened if they bought, ramping will be the tone here, there and everywhere.

Gold diggers, that need - toilet paper - for what they have found, that is the truth.

So next rises in share price will come if or as and when any of these milestones are reached:

Tanzanian Government grants cross border flying which seems more likely given that FJ are courting local investors in Tanzania – more local influential political influence. Expect this within 3 months and share price rise to follow.

South Africa – 1st July launch date. We all know we need this to happen on time now. Rise in share price will follow.

More Director buys – rise in share price will follow.

Integrating all the Fly450 operations into the FJ website and making the bookings of them accessible as per the Tanzanian options currently available on the FJ website. Revenue will increase simply because bookings are accessible and share price will rise in line with that slowly. A more coherent brand makes sense.

Confirming partnership deals like TUI and others – price will rise.

Just need to be very careful with Kenya and Don Smith, the more distance we put between FJ and him the better I would say. Also need to avoid any reputational damage like scandals or safety issues but apart from that we are all good.

As I say all in my humble opinion, good luck fellow investors/punters

mascot, Im just reporting what I have seen across the road on the 'top traders thread'.

ohh and by the way I wouldnt need to buy stock at the bottom, I could just buy the whole airline If I was interested.

@ 3.15am reporting!

Someone has sleepless nights? no the type of people that can buy a small airline.
But talk is easy than done, if influence by drink or drugs at the time.
Iinsomnia is not good for the stock market, you are missing today's rise already at 1.48p or 38% and paying full offer price.

Looking good for you Roselea!

FastJet founder says it is in Africa for the long haul
by Evan Pickworth, 07 June 2013, 07:45

LONDON-listed FastJet may have failed to lift off in South Africa at the end of last month, as planned, but one of its key stakeholders, Sir Stelios Haji-Ioannou, said on Thursday he was willing to take a five-year view on the deal.

FastJet aims to match the success of low-cost carrier in the UK easyJet by creating a low-cost Pan-African carrier, but has hit serious headwinds in Africa. Expansion in East Africa has been grounded because of disputes with former management at a regional African airline it bought.

Further, it is in conflict of interest disputes with a former subsidiary in Zimbabwe and has failed in its bid to buy the bankrupt 1time in South Africa. But FastJet is flying successfully from its base in Tanzania.

Also, it has set up in South Africa a company that has the required 75% local shareholding to own an airline. And it has struck a deal with President Jacob Zuma’s son Edward and other connected businessmen.

"Africa is a difficult place to do business — it is not open skies," said Sir Stelios at the Ernst & Young Entrepreneur of the Year awards on Thursday. "It is like trying to invest in Europe in the ’80s."

He launched his successful pan-European airline in the ’90s after regulation had been eased.

Sir Stelios said Africa was the "final frontier of aviation" as the low-cost revolution had happened everywhere else already. "We will see what happens — I can’t say it will be a success in five years, but it is risky."

FastJet says it hopes to be ready for take-off in South Africa in July after the failure to launch at the end of last month because of technical difficulties.

But it will fly into more stormy skies when it eventually takes off because of thin margins in South Africa, evidenced by the long line of failed low-cost airlines. Durban-based Velvet Sky has already admitted defeat.

On the other hand, Comair is in the middle of a legal challenge to the government’s continuing support for local carrier SAA despite continual losses.

But FastJet has outsourced operations to Federal Air, which has some success in flying tourists to game reserves and has a licence to fly long haul.

Sir Stelios said while higher fuel costs had been passed on to consumers, this could not continue forever.

He believed this would mean a period of slower growth for airlines, but saw profits for low-cost airlines if they could not compete on price.

"Entrepreneurs come in all shapes and sizes, but they all like to take risks," Sir Stelios said.

FastJet is backed by London and JSE-listed Lonrho, which on Tuesday published a scheme of arrangement proposing the company be bought by FS Africa and delisted.

LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL LOL.......

mascot 07 Jun 2013 09:20 - 98 of 100

@ 3.15am reporting!

Someone has sleepless nights? no the type of people that can buy a small airline.
But talk is easy than done, if influence by drink or drugs at the time.................ends

If you had any knowledge of this board youd know I post at that time or later frequently. I normally put in a 18 hour day and trade on the Asian markets at times.

As for me taking drink or drugs it just adds to your general ignorance. Yep I like a pint just like the next man.

Youve been given another days grace, but dont say I didnt warn you, and ask the holders here who just recently purchased these shares at 4p or their abouts what they think of this company

eg, ahoj - 06 Jun 2013 10:12 - 91 of 100

I need 4.5 to break even!!!
Should wait for ten years probably!!!......ends

Youve had a tit end of a gain compared to their loses.

Ive warned you in the best interests.

I admit that I got this wrong, as happens a lot these days.

All the problems stated in the report a couple of days ago exist, and the company may face serious problems. But there is a general change in wealth distribution around the world. Africans are getting richer and the countries are developing quite fast, certainly faster than wester countries, and their currency is improving. The demand for cheap airline is on the up, as the report yesterday shows, and will improve. I believe Fjet will benefit and should recover.

I hold as I mentioned before and will continue to hold.

ahoj, not having a go at you mate. Just used your post as an example to show how the SP should be put into recent historical perspective especially after that report a few days back.

hmmm way off highs of day and falling, I did warn you.

These guys are just manipulators in one large group. Be very carefull.

Look at the upper tail on the candle......

What an incredable turnaround of events on this one.Surprise rns.

fastjet terminates Convertible Securities Funding

The Company announces that it has terminated the convertible securities deed with Bergen Global Opportunity Fund, LP ("Bergen") signed 7 March 2013 (the "Convertible Securities Deed") having issued no further securities under the Convertible Securities Deed beyond the initial nominal amount of £2,556,750 announced on 8 March 2013.

David Lenigas, Chairman of the Company said:

"The fastjet board have, after a careful review, decided that the funding provided by the Convertible Securities arrangements does not represent best value for the Company, because primarily of its potential impact on the Company's share price. The Board believes other sources of finance available to the company to be in the better interests of the Company and its shareholders and has accordingly terminated the Convertible Securities Deed."

It seems FastJet's market entry has caused Tanzania's biggest private airline, PrecisionAir, into a financial crisis. Here is the article from Tanzania's Guardian on Sunday:


PrecisionAir faces financial dilemma
BY FLORIAN KAIJAGE
9th June 2013

The unplanned regional expansion and the entry of low-cost airline, FastJet, has thrown the country’s biggest private airline, PrecisionAir into financial crisis, The Guardian on Sunday has learnt.

Though none of airline’s top executives are unwilling to confirm the current financial turmoil, details gathered by The Guardian on Sunday for two months show that the airline has been forced to cancel the operation of Boeing 737-300 in domestic routes due to financial crisis.

The airline’s troubles were first noticed just after the departure of its former Chief Executive Officer, Alfonce Kioko, who was replaced by Sauda Rajabu, The Guardian on Sunday has been told. Some believe the former CEO mismanaged the company’s finances, while others say the current financial turmoil was caused by a rapid regional expansion that saw the airline expanding its wings to Johannesburg, Lusaka and Lubumbashi between 2011 and 2012.

The expansion plans, according to inside information, weren’t well researched -- especially the Dar-Johannesburg route – which turned to be a burden for lack of enough passengers to break even. The airline was operating a Boeing 737-300, which compared to 737-800 or Airbus A320 operated by South African Airways, was more expensive than the latter especially in fuel efficiency.
So PrecisionAir was forced to cancel its Dar-Johannesburg route before the end of last year, giving SAA virtual monopoly on the route, the Guardian on Sunday has learnt.

This regional expansion ostensibly carried out without proper planning and also without a fleet with fuel efficiency – to accommodate more passengers and cargo – were some of the factors that literally shot down the airline.
As the airline ran high operation costs at its newfound regional routes -- including Dar-Nairobi -- at the domestic market scene was dogged down by the arrival of the low-cost airline, Fast Jet, our surveys show.

FastJet, which operates the Airbus A319, came riding the high crest of the promotional lower fares – in itself a sensation rare in Tanzania, where even bus fares keep rising. Within weeks, the airline’s financial outlook deteriorated -- especially on its Dar-Mwanza route.

As a result, Precision was forced to suspend the operations of Boeing 737-300 between Dar and Mwanza three months ago in what was termed as high operational costs. Before that, the airline was operating three times a day. The route has since been replaced by ATR-500, which has the capacity to carry 70 passengers, and uses fuel efficiently.

The Guardian on Sunday has also learnt that the former CEO had apparently mismanaged the company’s finances, leaving behind a cash-strapped airline when he left the company at the beginning of this year.

However, The Guardian on Sunday couldn’t independently verify how much monies were lost during Kioko’s tenure, but insiders say the former CEO cost the airline dearly.
Talking to The Guardian on Sunday, the airline’s current Managing Director Sauda Rajab responded:

“Precision Air is currently involved in reviewing its five-year business plan. The plan involves massive growth in our operations and will therefore require injection of funds. Various investment options are being reviewed and once the plan has been finalized and approved by the board, we will share with various stakeholders and the public at large.

The new CEO who took over about three months ago added: “Indeed, the next five years will be exciting ones for the airline as we continue to venture channels to further position PrecisionAir as Tanzanian airline of choice.”
On reports that the airline had approached the government asking for soft loan amounting to $4 million.

Everyone thinks is a good move to get rid of Lenigas


From the TELEGRAPH ...........

FJET - Lenigas quits FastJet after latest bust-up

David Lenigas, the combative chairman of FastJet, is leaving the African start-up airline after a bust-up with its proposed new owners.

David Lenigas is understood to have fallen out with the Swiss investors poised to complete a £175m deal to buy Lonrho, which own around 47pc of FastJet.

Mr Lenigas, whose leadership of FastJet has seen the shares collapse by three-quarters in a year, has decided to quit before he was pushed.

He is understood to have fallen out with the Swiss investors poised to complete a £175m deal to buy Lonrho, the Africa-focused conglomerate that owns around 47pc of FastJet.

Mr Lenigas’s stewardship of FastJet, which is backed by easyJet founder Sir Stelios Haji-Ioannou, has been punctuated by regular fundraisings and a spectacular fall-out with Don Smith, the founder of FastJet’s Kenyan wing Fly540 Kenya.

While the pair came to a recent truce, the £4.4m legal row triggered threats of repossessing aircraft, expletive-ridden email exchanges and an attempt by Mr Smith to calm down Mr Lenigas with the phrase: “Mate, I think you need to take a chill pill.”

Mr Lenigas, a former executive chairman of Lonhro, oversaw the deal that created FastJet via a £55m all-share deal. It involved Lonhrho’s aviation wing, Fly540, reversing into the Aim-listed Rubicon Diversified Investments at 4.8p a share.

The shares closed at 1.23p last night, up 0.01, valuing the business at £29.9m.

Mr Lenigas subsequently quit to join FastJet, which earlier this month disclosed that it has made a post-tax loss of $56m (£37m) in its latest financial year and had its accounts qualified by its auditors.

Last month Lonrho said it had agreed a takeover by FS Africa, a newly incorporated company controlled by multi-millionaire Swiss investors Rainer-Marc Frey and Thomas Schmidheiny.

FastJet's chief executive Ed Winter is taking over as chairman on an interim basis. He thanked Mr Lenigas for his "significant contribution".

Mr Lenigas said: "This is a time of transition for FastJet both operationally and in terms of shareholder structure as its major shareholder, Lonrho, is likely to have a new owner in the coming weeks as a result of the current offer for Lonrho. It therefore seems to be a good time for me to step down to pursue my other interests and hand over the reins."

re - Look at the upper tail on the candle......
re - Youve been given another days grace, but dont say I didnt warn you,

finger

maybe someone should admit .... that I got this wrong,

it went to 1.50p again this morning, clever clocks get it wrong most of the time I would say.

so once again finger UP yours, no need for your WRONG advise as usual.

So lets get this right weve gone from 4.6p down to 1.3p in just a few months.

Are you sure your not on hallucination drugs?.

Like ive said all along the wide boys on advfn are playing with this one all day.

First going long then shorting it later into the day.

At some point they will get fed up and dump it.

Look at the chart you muppet.

Well well, looks like for the 3rd day history repeating itself.

DOWN.