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FASTJET PLC - New low cost airline for Africa (FJET)     

Darshini - 22 Nov 2012 15:05

Chart.aspx?Provider=EODIntra&Code=FJET&SFJET


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."

skinny - 08 Dec 2014 13:46 - 341 of 449

Disposal of Assets

As previously announced the Company is restructuring the Fly540 Ghana and Angola businesses. As part of that process two ATR aircraft previously operated by those companies are being sold.

Fly 540 Ghana Limited (540 Ghana) and Fly 540 Sociedade De Aviacao Civil SA (540 Angola), as a part of their historic operations, acquired two ATR aircraft (MSNs 949 and 826, together the ATRs). These aircraft were acquired by way of a financing facility provided through the African Export-Import Bank (Afreximbank), guaranteed by fastjet Aviation Limited (a BVI entity).

The ATRs have not been in use since operations ceased in Ghana and Angola earlier this year. The ATRs are surplus to current business needs and have not been generating a profit for the fastjet group, but have been accruing finance lease and other costs in both 540 Ghana and 540 Angola.

Sale agreements were entered into with Elix Assets 7 Limited (Elix), which such agreements are subject to certain conditions. The sale price is at market value to a third party being USD 11.6 million for MSN 949 and USD 9.75 million for MSN 826, payable in cash to Afreximbank as part-consideration for amounts owing under the financing facility.

As a consequence of the sale, fastjet Aviation Limited will be liable as guarantor of the original aircraft acquisition, for the shortfall in sale proceeds which is anticipated to be approximately USD 2.3 million. fastjet Plc, as shareholder of fastjet Aviation limited has no liability under this guarantee. fastjet Plc has previously provided, in its published 2014 interim financial statements, for an estimated USD 2.1 million impairment of these aircraft assets.

skinny - 09 Jan 2015 07:03 - 342 of 449

fastjet Zambia approval update

fastjet, Africa's low-cost airline, is pleased to announce that fastjet Zambia Ltd has received confirmation from the Zambian Civil Aviation Authority that it has successfully completed the critical 'Phase 1' of its application for an Air Operating Certificate (AOC) This is a significant step towards the launch of fastjet operations in Zambia. The next stage of the AOC process, which is well underway, allows the authorities to evaluate fastjet Zambia's planned company structure, gain first-hand understanding of fastjet's Airbus aircraft and approve fastjet Zambia's operational plan.

Commenting on the news, Ed Winter, interim Chairman and Chief Executive Officer of fastjet plc, said: "The process to obtain permission to operate in Zambia is proceeding extremely well. We have an excellent team in Zambia, who are working positively with the local authorities to complete the approval process as efficiently as possible.

"We look forward to bringing the high quality and low-cost fastjet operation to the people of Zambia soon".

Zambia will be fastjet's second base from which it plans to operate low-cost flights to various destinations in East and Southern Africa. Prices on regional routes from Zambia are currently very high, especially so where a monopoly operator controls the route. fastjet is confident that its low-cost model will stimulate the market.

fastjet intends to announce its passenger statistics for December 2014 on 12 January 2015.

skinny - 12 Jan 2015 07:06 - 343 of 449

Passenger Statistics and Operating Update

Passenger Statistics and Operating update.

fastjet achieves first profitable trading month.

December 2014 Profit

fastjet Tanzania, the group's principal operating company, posted its first profitable trading month at an Earnings before Interest and Tax ('EBIT') level in December as it saw strong demand for its services during the very busy holiday season and benefited from low fuel prices. Yield per passenger rose 20% compared to December 2013 with total revenue for the month up 106 per cent year on year. The contribution generated by the Tanzanian operation was sufficient to create an underlying operating profit for the month at the fastjet Plc group level.

December 2014 Passenger Statistics

fastjet operations in Tanzania carried a total of 65,653 passengers, a 75 percent increase compared to the same month last year, and achieved a load factor of 76 percent, 2 percentage points up on last year.

On Time Performance remained excellent at 89 percent.

Q1 2015

Although the first quarter is traditionally a relatively low demand flying period, trading in the first quarter is expected to be much improved on last year as the excellent growth trends in both passenger numbers and yields seen in 2014 are anticipated to continue and as the Company benefits from lower fuel costs. The number of flights operating has been reduced to match capacity to expected demand and reduce costs.

Fuel

The fuel price in January will provide a further 13 percent reduction on December prices. The Company expects further reductions in February and March as the recent falls in the price of crude oil continue to flow through to African aviation fuel supplies. As stated last month, fastjet does not currently pre-purchase or 'hedge' its future fuel price. The Company pays current market rates for its fuel and is therefore realising substantial benefits from the reduction in the cost of crude oil.

Although fastjet operates fuel-efficient modern Airbus 319 aircraft, fuel represents a very significant percentage of its direct operating costs. As such, the fall in the price of oil delivers a large direct cash benefit to the airline.

Millionth passenger

fastjet Tanzania is also celebrating the major milestone of flying one million passengers across the African continent.

This milestone represents another significant achievement for the low-cost airline as it is embraced into the hearts and minds of travellers in Tanzania and further afield across East and Southern Africa.


Commenting on December trading, Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:

"The announcement of our first profitable trading month is a great achievement and a huge milestone on the road to becoming the first pan-African low-cost airline. We have already proven that the low-cost model works to stimulate traffic and we have now shown that it can create a profitable business. The Tanzanian fleet of three aircraft is now producing more than double the monthly revenue compared to a year ago. This higher utilisation, combined with higher per passenger revenues and lower fuel prices, has been transformational for the business.

more.......

mentor - 12 Jan 2015 23:11 - 344 of 449

They forgot to add FJET............

3 Airline Stocks Set To Take Off: easyJet plc, International Consolidated Airlines Grp And Ryanair Holdings plc
By Motley Fool | Mon, 12th January 2015 - 14:12

There is no hiding it - the travel sector, in particular airline stocks, are currently benefiting from plummeting oil prices. On January 12th, the Brent crude oil price dropped by 2.6% to $48.74, to a six-year low. US crude oil was also at its lowest level since 2009, down by 2.3% to $47.25 a barrel. On the back of this news, German airline Lufthansa said it expected its fuel bill for 2015 to be 13% lower than previously forecast, as a result of the low oil price.

Passengers are also turning to the low-budget UK airlines and others to escape the "winter blues" in January. I have picked three airline stocks worth investing in or re-visiting, whilst Brent crude continues its' descent below $50 a barrel and office workers continue to spend their above inflation pay-rise on a dream holiday destination.

easyJet (LSE:EZJ)

This low-budget airline founded by Sir Stelios Haji-Ioannou in 1995, reported an upsurge in passenger numbers before Christmas. The load factor - a measure of how full its aircraft were - increased by 0.5 percentage points to 89.5%, with passenger numbers by 3.1% to 4,386,296 in November against the same month in 2013. In November, the Luton-based carrier also reported a rise in annual pre-tax profits by 21.5% to £581m, with a 6.3% rise in revenue to just above £4.5bn. Due to this positive set of results, broker Liberum lifted its target price from 1,650p to 1,725p and repeated its "Buy" recommendation. Liberum analyst Gerald Khoo said although the stock's valuation is currently at a premium to its five-year average, this is "justified" by the "rapid and dramatic improvement" in the airline's margins and return on invested capital in recent years.

Ryanair (LSE:RYA)

Another low-budget airline doing well on the back of the falling oil price is easyJet's rival, Ryanair. Ryanair's shares hit a record high in early January, boosted by a rise in passenger numbers to 6.02 million in December. This rise translates to an 88% rise in seat occupancy for the month. The low-budget airline's profit warnings of 2013 seem a distant memory for investors. It has also scrapped quite a few unpopular policies that weren't currying favour with potential customers -- for instance, Ryanair now allow passengers more carry-on baggage and have cut punitive charges. It has also improved its website and launched a service aimed at business customers. In December, Ryanair raised its forecast for pre-tax profits this year to between £636m-£655m), up from an earlier estimate of £584m-£600m.

International Consolidated Airlines (LSE:IAG)

The owner of British Airways and the Spanish carrier Iberia, ICAG group is currently in pursuit of Aer Lingus. After suffering several rebuffs, it raised its cash offer from an earlier Euro 2.30 to Euro2.40 per share. If the takeover bid was successful, ICAG would gain more take-off and landing slots at Heathrow, and increase its passengers numbers on one of the world's busiest routes (London to Dublin). Analysts have talked of the merits of the Aer Lingus merger for ICAG group including strengthening its transatlantic market position. Broker Liberum has reiterated its "Buy" stance, with 16 other brokers viewing the stock as a "Strong Buy".

mentor - 12 Jan 2015 23:22 - 345 of 449

Has been going places for the last few days and chart looking bullish after 2 month of bottom floor
Bought some at end of day at 1.075p

Chart.aspx?Provider=Intra&Code=FJET&SizeChart.aspx?Provider=EODIntra&Code=FJET&S

mentor - 13 Jan 2015 11:03 - 346 of 449

Good starting day with once again large volume Buying

mentor - 13 Jan 2015 12:41 - 347 of 449

going places today again, noticing that some investors are taking profits from time to time.
Looks like the high volume yesterday is going to be short of today's

mentor - 13 Jan 2015 13:34 - 348 of 449

Volume is reaching now yesterday's levels, so ready to surpassed and most likely reaching over 100M by the end of the day

mentor - 13 Jan 2015 23:23 - 349 of 449

benefiting from low oil prices has been a good omen for the punters and investors alike today as the shares traded reached 127M

mentor - 14 Jan 2015 12:40 - 350 of 449

Today is another day as the share price fails to break the 1.55p since yesterday
Indicators well at overbought territory and share price well over the top Bollinger Band
and Level 2 not on as good as it should be

sold at 1.50p
39.50% profit on a couple days was good enough

Chart.aspx?Provider=EODIntra&Code=FJET&S

skinny - 09 Feb 2015 07:26 - 351 of 449

fastjet's January 2015 passenger statistics

fastjet operations in Tanzania carried a total of 55,695 passengers in January 2015 and achieved a load factor of 69%. This represents a 78% increase in the number of passengers carried and a 9% increase in load factor compared with the same month last year,

On-Time Performance remained excellent at 94%Note 3.

Commenting on the figures, Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: "January is traditionally the month of the year when airlines see the lowest consumer demand. We are therefore very pleased with our trading figures as we build upon our market leading position in Tanzania. We have clearly demonstrated that our low-cost model is stimulating the market and encouraging more and more people to use our reliable and affordable flights rather than road transport."


Year-on-year, the 78% increase in passengers carried in January is well ahead of the 53% increase in number of seats flown, producing a strong uplift in load factor.

fastjet launched its Spring flying programme last week featuring the commencement of the new route linking the two busiest destinations in the fastjet network (Kilimanjaro and Mwanza).

skinny - 09 Mar 2015 07:06 - 352 of 449

fastjet's February 2015 passenger statistics

fastjet plc is pleased to announce its passenger statistics for the month of February 2015.

The fastjet Tanzanian operations carried a total of 52,801 passengers in February with a load factor of 70%.

fastjet also continues to maintain its excellent punctuality rate with February recording 96% of flights arriving on time. Note 3

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said:
"With a 50% increase in passengers we continue to see great year on year growth achieved by increased utilisation of our aircraft. As we approach Easter and peak summer months we will be adding even more capacity on existing routes and expanding our route network."

fastjet continues to benefit from falling fuel prices.
fastjet paid 13% less (cost per gallon ) in February compared with January 2015, representing a 37% reduction (cost per gallon) compared to February 2014.

Seat sale
fastjet is delighted to report that during its latest sale event it sold over 24,000 seats. As part of its commercial strategy, fastjet holds several one day sales throughout the year to stimulate seat sales across its network. Targeting off-season periods with traditionally lower demand, the company uses low fares to maximise sales opportunities and achieve higher load factors, a key strategy in low cost carrier revenue management. During the airline's "Mad March Sale", thousands of tickets were available at the lowest fare of $20 on domestic routes and $50 on international routes.

fastjet wins major ecommerce award for customer service
fastjet is also proud to have been awarded the top "gold" award at this year's prestigious Stevie Awards for e-Commerce and Customer Service. On 27th February, the Stevie Awards recognised our high standards of customer service through e-commerce, and chose to award us gold over the other two finalists Delta Air Lines and DHL Express. With a strong and consistent online presence, we've pioneered an online customer service revolution across Africa since our first flight on 29th November 2012. We daily communicate to over 350,000 fastjet followers through social media channels such as Facebook, Twitter and Instagram, as well as email newsletters and blog posts for news and milestones on fastjet. A number that increases with new fans and followers every day.

skinny - 25 Mar 2015 07:08 - 353 of 449

fastjet announces Zimbabwe Air Service Permit granted

fastjet plc is pleased to announce that, as part of its plans to grow its footprint in Sub- Saharan Africa, it has received an Air Service Permit (ASP) from the Ministry of Transport and Infrastructural Development of the Government of Zimbabwe responsible for administering the Civil Aviation Authority of Zimbabwe (CAAZ). This is a significant step towards the Company obtaining an Air Operating Certificate (AOC) and its plans to launch fastjet Zimbabwe in due course.

skinny - 01 Apr 2015 07:03 - 354 of 449

Press Speculation

fastjet notes today's press coverage in The Times in relation to a fundraising to fund its growth plans. The Company can confirm that it is currently in talks with potential investors and will provide an update in due course.

skinny - 01 Apr 2015 15:10 - 355 of 449

Result of Placing of New Ordinary Shares

fastjet (AIM: FJET), Africa's low cost airline, is pleased to announce that, following the launch of a proposed placing today, 1 April 2015, it has successfully placed 5,000,000,000 new ordinary shares (the Placing Shares) at a price of 1 pence per share (on a pre-consolidation basis) (the Placing Price) to new and existing institutional, other investors and fastjet management (the Placing). The Placing, raised gross proceeds of GBP 50 million (approximately USD 75 million) (the Placing Proceeds).

Net proceeds from the Placing will be deployed in two key areas - expansion working capital and the launch and growth of operations in Kenya, South Africa, Uganda, Zambia and Zimbabwe. fastjet will use funds raised in excess of that needed for its working capital requirements to commence an aircraft acquisition programme of used Airbus A319 aircraft.

The Placing was conducted, other than in relation to the Republic of South Africa and the Placing Shares to be subscribed for by Sir Stelios Haji-Ioannou through easyGroup Holdings, by way of an accelerated book-building process. Liberum Capital Limited (Liberum) acted as global co-ordinator (the Global Co-ordinator) and Liberum and WH Ireland Limited (WH Ireland) acted as joint bookrunners (the Joint Bookrunners) on the Placing. In relation to the Republic of South Africa, Sanlam Securities UK Limited (Sanlam) acted as broker on the Placing.

The Placing Price represents a discount of approximately 14.89 per cent to the closing middle market price of 1.175 pence per Ordinary Share on 31 March 2015, being the last business day prior to the announcement of the Placing. The Placing is conditional, inter alia, on the approval of shareholders in a general meeting of the Company to be held on 20 April 2015 and admission of the Placing Shares to trading on the AIM market of the London Stock Exchange plc (AIM) (Admission).

skinny - 02 Apr 2015 07:07 - 356 of 449

Proposed Consolidation of Existing Ordinary Shares

Placing of 50,000,000 New Ordinary Shares

Notice of General Meeting

fastjet announces that it will today be posting notice of a GM of the Company to all shareholders and will also make the notice available on the Company's website (www.fastjet.com). The GM will take place at the Lingfield Suite, Hilton Hotel, South Terminal, Gatwick Airport, Gatwick RH6 0LL at 9.00 a.m. on 20 April 2015.

Grant of Options

skinny - 09 Apr 2015 07:03 - 357 of 449

fastjet Passenger Statistics for March 2015

fastjet plc is pleased to announce its passenger statistics for the month of March 2015.

fastjet operations in Tanzania carried a total of 56,808 passengers and achieved a load factor of 70%. This represents an increase of 66% in the number of passengers carried and a 3% increase in the load factor, compared with the same month last year.

Punctuality for the month remained excellent, with 91% of flights arriving on time Note 3. This was despite increased aircraft utilisation with additional flights added to the network.

more....

hangon - 21 Apr 2015 12:22 - 359 of 449

Oh dear , oh dear - this has a whiff of destruction about it...issuing yet more shares Options and CONsolidation . . . . you can't wait for the next hurdle - Yikes. . . . . and they are flying into a rather subdued part of the African Continent...well, Good luck....

skinny - 23 Apr 2015 16:28 - 360 of 449

Standard Life Investments (Holdings) > 7%
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