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."

Prudential > 14%

M&G Investment Funds > 14%

Starting to taxi post consolidation.

Majedie Asset Management Limited > 5%

how the chart is looking
Strong movement today

fastjet Passenger Statistics for April 2015

fastjet operations in Tanzania carried a total of 68,088 passengers and achieved a load factor of 73%, the highest monthly passenger total recorded since the commencement of fastjet operations. This beats the previous highest month, December 2014, by 2,500 passengers and represents growth of 90% compared to the same month last year. The load factor grew 7% compared to the same month last year and capacity increased month-on-month by 15%.

more..

Directorate Change

Planned Fleet Expansion


fastjet (AIM:FJET), Africa's low-cost airline, is pleased to announce it plans to increase its fleet this year as it seeks to expand its operations and add further routes to its network.

With fastjet's current fleet of three aircraft almost fully utilised, additional aircraft will be required to support the planned expansion of fastjet Tanzania and to facilitate the start-up of planned new fastjet operations in both Zambia and Zimbabwe.

The airline has signed a letter of intent with ICBC International Leasing Company Limited in respect of the leasing of one A319-131 aircraft (the "Aircraft").

This Aircraft is the first of a number that fastjet is planning to add to its fleet this year, with each additional aircraft 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 expected to carry approximately 275,000 passengers per annum.

fastjet expects to put the Aircraft into service in the third quarter of 2015, subject to entering into a lease agreement with certain conditions being met, including the reconfiguration of seating and painting in fastjet livery.

Ed Winter, fastjet Chief Executive Officer, said: "It will be a strong step forward to add another aircraft to our fleet and embark on our planned expansion funded by our recent £50 million placing. We are currently negotiating to bring further aircraft into the fleet."

As previously announced, the Company's target is to have up to 34 aircraft operating to 40 destinations within and from Tanzania, Zambia, Zimbabwe, South Africa, Kenya and Uganda by the end of 2018.

Ends

Never heard of this lot but :-

Sanlam Securities Buy 117.00 117.50 - 291.00 Initiates/Starts

Used to be SPI, under the brand name 'Gensec'. Then part of their group 'Merchant Securities' became Sanlam Private Investments' in 2012, then 'Sanlam Private Inv' became 'Sanlam Securities UK' in 2013, then in 2015 "Sanlam has gone through a brand refresh and updated positioning. The new brand architecture is constructed around five expertise fields, namely: insurance, financial planning, investments, retirement and wealth. As such, Sanlam Private Investments now operates under the Wealth descriptor and has changed its name to Sanlam Private Wealth."......and no, I haven't heard of any of them either!!!

Final Results for the year ended 31 December 2014

Summary highlights
· Significant improvement in operational and financial KPIs
· Material corporate structure changes and improvements
· 35% first time fliers on fastjet in 2014 - African growth potential evident
· 95% customer satisfaction level

Operational highlights

2014
· fastjet Tanzania
o 85% increase in aircraft utilisation (from 5.5 to 10.2 block hours per aircraft per day)
o 62% increase in total seats flown
o 92% punctuality - SAA 84% easyJet 85% (average arrival within 15 minutes)
o Additional ancillary revenue streams introduced (including seat selection, 'Smartclass', and 'Freighty').

· Fastjet Zambia
o Zambia Air Service Permit granted - this is a significant step on the path to gaining an Air Operator Certificate and launching flights within and from Zambia. First aircraft expected to be deployed in Q3 2015.

· Fly 540
o Loss-making services of Fly 540 businesses in Ghana and Angola remain suspended, now treated as discontinued - minimal cash cost in the year.
o Disposal of investment in Fly540 Kenya - legal and financial indemnity received.


Subsequently
· Zimbabwe Air Service Permit granted marking a significant step on the path to gaining an Air Operator Certificate and launching flights within and from Zimbabwe. First aircraft targeted to be deployed in Q3 2015.
· Fourth aircraft lease - a letter of intent (LOI) signed for the lease of an Airbus A319 as part of planned fleet expansion.

2014
· fastjet Tanzania
o 106% increase in full year revenues to US$53.8 million ( 2013 US$26m)
o 26% increase in average revenue per passenger to US$90 (2013 US$71)
o 64% increase in passengers carried
o 3% increase in Revenue per Available Seat Kilometer (RASK) to 7.95c (2013 7.72c)
o 20% fall in Cost per Available Seat Kilometer (CASK)to 11.27c (2013 14.13c)
o Full year underlying operating loss before exceptional items of US$22.5 million
o Full year underlying operating loss after exceptional items of US$24.4 million - US$1.9 impairment on intangible items
o 50% reduction in year on year EBITDA loss margin.

· fastjet Group

o Operating loss before exceptionals US$30.7 million
o Operating loss after exceptionals US$43.9 million - impairments of US$10.7m intangibles and termination of easygroup management contract of US$2.5m
o Loss including discontinued businesses US$72 million - loss from Fly 540 Angola and Ghana US$27.7 with less than US$0.25 million of fastjet Plc cash used in these legacy operations.

Subsequently
· £50 million equity fund raise, significantly broadening the institutional shareholder base.
· Share capital reorganisation - consolidation of ordinary shares on the basis of one new share of £1 each for every 100 shares of 1p each.

Restatement
· Restatement of 2013 financial statements in relation to the 2012 purchase of the Lonrho aviation business. The transaction was treated as an acquisition by Rubicon (now fastjet Plc) whereas it is more correctly treated as a reverse acquisition by Lonrho, as whilst the Lonrho board in practice did not, it could have sought control of the Company. The restatement has neither any cash effect on any of the years concerned nor any material impact on the 2014 trading results.

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.

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?