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."

Wow, Who told you THAT?

£4 million Funding

fastjet announces that it has increased its working capital through a new successful fund raising with gross proceeds of £4,028,125 via a combination of a subscription with an existing institutional investor and other investors and a draw down on its £5 million Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), a majority owned subsidiary of Henderson Global Investors Volantis Fund.

The Company has received legally binding contracts to raise £3,500,000 by way of the issue of 155,555,556 new ordinary shares ("Placing Shares") at a placing price of 2.25p per share. These shares will rank pari passu in all respects with existing ordinary shares of 1p each in fastjet. Once all the funds have been cleared, the placing will be completed and the Company will make an announcement of the issue of the Placing Shares and their date of admission to AIM. Each of these new Placing Shares will have one attaching warrant for every two allocated Placing Shares subscribed for, with each warrant entitling the holder to subscribe for one ordinary share in the Company at 5p per ordinary share with an exercise period of twelve months.

In addition, and under the terms of the previously announced £5 million EFF agreement, the Company has raised an additional £528,125 by way of the issue of 16,250,000 new ordinary shares of 1p each to Darwin (the "EFF Shares"). The new EFF Shares will be issued at a price of 3.25p per share and will also rank pari passu in all respects with existing ordinary shares of 1p each in fastjet.

An application will also be made to the London Stock Exchange for the 16,250,000 EFF Shares to be admitted to trading on AIM. It is expected that the admission will become effective and that trading in these new shares is expected by 15 February 2013.

Following Admission, the Company's enlarged issued share capital will comprise of 2,072,416,561 ordinary shares with voting rights. This figure of 2,072,416,561 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

ahoj,ref youre post 11 feb,skinny seems to know all that goes on ,it was in the daily hereld so i was told , so ask skinny.

RNS Number : 4290Z

Fastjet PLC

07 March 2013

7 March 2013

fastjet plc

("fastjet" or the "Company")

fastjet seeks UK High Court Ruling on Fly540 Kenya Control

fastjet advises that it has issued proceedings in the High Court of Justice in England, seeking a declaration that it has fulfilled its obligations under the Sale and Purchase Agreement ("SPA") made between fastjet Plc (formally Rubicon Diversified Investments Plc) with Donald Smith on the 10 June 2012, including that it has paid Mr Smith in full for his shares in Fly540. It also seeks an order that Don Smith immediately hand over all the necessary documents to complete transfer of control of Fly540 Kenya to fastjet and/or its nominees.

The SPA is specifically governed by English Law.

David Lenigas, fastjet's Chairman stated:

"We are always reluctant to take legal action to enforce a contract, so we are disappointed that the Company has had to resort to this measure to force Mr Smith to complete his part of the commercial transaction that he agreed and signed off in June last year. The Company has paid Mr Smith a fair and reasonable price for his controlling interest in Fly540 Kenya and we expect to receive in full what we have paid for."

"fastjet is adamant that Mr Smith has been paid his full consideration and we will now ask the High Court of Justice to rule on this matter."

"We sincerely hope that the process will be dealt with speedily, so that the unnecessary and apparently contrived confusion surrounding control of the Kenyan operations can finally be put to rest."

astjet secures £15.68m to fund growth

StockMarketWire.com

fastjet has entered into a convertible securities deed with Bergen Global Opportunity Fund in connection with zero coupon convertible securities with a nominal amount of up to £15,681,750.

fastjet chief executive Ed Winter said: "This agreement with Bergen gives us access to very significant funding over the next year on a flexible basis and will provide us with a solid platform on which to grow the business and expand our operations in Africa.

"The investment structure potentially reduces the dilution to existing shareholders and gives us the opportunity to restructure parts of the business and adapt our business model in the light of our experience so far in Africa. "Securing this funding will assist us in our core objective of making fastJet the first pan-African low-cost airline and meeting the growing demand for air travel across the continent."

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!