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."

22 November 2012





fastjet Plc

("fastjet" or the "Company")



Operational update



fastjet, the first pan African low-cost carrier, today announces that ahead of flight operations scheduled for next week, the airline's first branded Airbus A319 has arrived at its base in Dar es Salaam, Tanzania. Full approval to operate the aircraft has been granted to fastjet by the Tanzanian Civil Aviation Authority (TCAA).



Two more fastjet-branded A319s are planned to be en route early next week, to be in Dar es Salaam in time for the airline's first flight, scheduled for Thursday 29th November. fastjet's team of 35 pilots, 65 cabin crew and 7 maintenance specialists are already on the ground actively preparing for launch.



In a little over a week since tickets went on sale, fastjet has already taken over 8,000 bookings on the first two routes; enough to fill over 60 A319s. The fastjet.com web site received over 20,000 hits in its first 4 days and the mobile site is now live.



Commenting on the significant progress, fastjet chairman David Lenigas said:



"As expected, plans for fastjet's official launch of operations are moving ahead right on schedule and we are delighted with the level of interest so far. Demand for seats is high and we are in great shape to start flying next week. We are delighted to have such a solid foundation to build upon."



Further to the Company's announcement on 24th July 2012, fastjet has now formally entered into the £5 million Equity Financing Facility ("EFF") with Darwin Strategic Limited ("Darwin"), the majority owned subsidiary of Henderson Global Investors' Alphagen Volantis fund.



The EFF covers a three year period. The subscription price of any draw down on the EFF will be at a 5% discount to an agreed reference price determined during 15 trading days immediately following the delivery of a draw down notice. Any exercise of the draw down shall have a volume commitment of a minimum of four times the average daily volume traded in fastjet shares during the 15 days prior to activation, subject to certain restrictions.



As part of the EFF the Company has issued a warrant instrument for Darwin to subscribe for up to 2,000,000 ordinary shares, such warrants exercisable over a three year period at a subscription price of 5.3p per ordinary share.

darshini,it is good to see another investor here,have high hopes for this company

Since 2009, Lonrho has developed its regional African scheduled aviation division, Fly540, into a significant airline carrying 50,000 passengers a month and serving the East, West and South-West of Africa from hubs in Kenya, Ghana and Angola respectively, the foremost private sector route network in Africa.
Having completed the crucial establishment phase of the airline’s development, the Lonrho Board believed that it was essential, for the further development of the airline, to bring world class aviation expertise into the business and establish the aviation division in its own separate corporate structure. As a consequence, on 29 June 2012, FastJet Plc completed its acquisition of the aviation division.
As stated at the time of completion of the transaction, Lonrho has now completed its investment in the aviation sector. Lonrho’s current holding in FastJet is 67.4% and it is no longer involved in the day-to-day management of the business, as FastJet implements its own self-funded strategy for its development. FastJet is consolidated as a jointly controlled entity in Lonrho’s Group accounts.


http://www.fastjet.com/tz/

HB Markets:

Friday 23rd November 2012

Fastjet (FJET.L, 3.52p) - Speculative Buy

Yesterday, Fastjet confirmed the arrival of its first branded Airbus A319 at its base in Dar es Salaam, Tanzania. The company is scheduled to commence flight operations from 29th November. Fastjet has been granted full approval by the Tanzanian Civil Aviation Authority (TCAA) to operate the aircraft. Two more Fastjet branded A319s are expected to be in Dar es Salaam by next week. The airline has a team comprising 35 pilots, 65 cabin crew members and seven maintenance specialists who are on the ground preparing for launch. Since 14th November 2012, when tickets first went on sale, Fastjet has already taken more than 8,000 bookings on its first two routes. The company has also formally entered into a £5m equity financing facility with Darwin Strategic Limited, a subsidiary of Henderson Global Investors' Alphagen Volantis Fund.

Our view: Fastjet's official launch of operations scheduled for 29th November 2012 is on track and the company has received very encouraging levels of interest so far. As Africa's first low-cost carrier, the company would begin operations to Mwanza and Kilimanjaro from Dar es Salaam twice a day at a fare of US$20 excluding taxes and other charges. Once regional services are established, Fastjet plans to roll out operations across Kenya and Uganda within weeks, and ultimately grow into a pan-African low-cost airline. The rapid economic growth in Africa has resulted in increasing wealth of African citizens, who are expected to fly for the first time, thus generating solid demand. Fastjet's business model is being developed with help from highly successful EasyJet founder Sir Stelios Haji-Ioannou, who is both a shareholder and director at the company. Notoriously predominant bureaucracy in the aviation industry and infrastructure limitations across airports poses a challenge to the airline. However, we are optimistic that the company would be able to leverage the first mover advantage in the low cost aviation segment and harness the strong growth potential in aviation sector. We maintain a Speculative Buy rating on the stock.

smartvestor,good find on the HB markets coverage :->

darshini i also found this that is worth a look


Fastjet in final countdown to launch

Author - Rob Gill - 22 Nov 2012

New African no-frills airline Fastjet has taken more than 8,000 bookings in its first week on sale.

The airline, which is being backed by Easyjet founder Sir Stelios Haji-Ioannou, is due to launch its first flight next Thursday (November 29) from the Tanzanian capital of Dar es Salaam.

Fastjet said its first branded Airbus A319 has already arrived in Dar es Salaam and the company has also received operating approval from Tanzania’s aviation authority.

Chairman David Lenigas said: “Plans for Fastjet's official launch of operations are moving ahead right on schedule and we are delighted with the level of interest so far.

“Demand for seats is high and we are in great shape to start flying next week. We are delighted to have such a solid foundation to build upon."

Fastjet will start services by operating domestic routes in Tanzania from Dar es Salaam to Kilimanjaro and Mwanza.

The company then intends to expand rapidly across Africa by setting up a second base in Nairobi, Kenya, followed by more operations in Ghana and Angola in its goal to become the continent’s first pan-African no-frills carrier.

Fastjet said its new website had received 20,000 hits in its first four days and it had also launched a mobile site.

http://buyingbusinesstravel.com/news/2220048-fastjet-final-countdown-launch

thanks smartvestor,so the first airbus has arrived with two more coming next week,
and 15 due to be in service during next 10 months.I wonder if Stelios will be making
a fanfare in the media next week on launch day !

Yes they have said that 15 airbus will be in service in that period,so the newsflow
here should be regular as more planes enter service and passenger numbers grow.

Oh and yes i think they will get lots of media attention next week and the chief exec,s
comments on twitter are rather positive too.

David Lenigas on Twitter

"My other focus FastJet Plc launches in Africa next week. A big day for Africa and this company can change Africa GDP. Rapid Growth. "

thanks smartvestor a very interesting take on things

I could well be tempted on this one just for stelios track record alone,was taking a
look through the various snippets and think their "first mover advantage" is what
will ensure success and provide a large market share for them.

jackson55,you are right their first mover advantage will count for alot here .



Jackson55 - 24 Nov 2012 13:37 - 12 of 12

I could well be tempted on this one just for stelios track record alone,was taking a
look through the various snippets and think their "first mover advantage" is what
will ensure success and provide a large market share for them.

Fastjet mentioned on Travel Mole today.


"Sir Stelios' new budget African airline FastJet is set for its launch this week.

The pan African low-cost carrier has taken delivery of its first branded Airbus A319 at its base in Dar es Salaam, Tanzania.

Two more are expected to arrive in the next few days ready for the inaugural flight on Thursday.

A team of 35 pilots, 65 cabin crew and seven maintenance specialists are now on the ground preparing for launch.

The airline said its website had received over 20,000 hits in its first four days.

It will start by operating domestic routes in Tanzania from Dar es Salaam to Kilimanjaro and Mwanza.

Later on, it plans to open a second base in Nairobi, then in Ghana and Angola.

Sunday, November 25, 2012

http://www.travelmole.com/news_feature.php?news_id=2004092&c=setreg&region=2

smartvestor,fastjet were also covered by leading travel writer simon calder


Simon Calder: Could Africa’s skies at last be wide open?

Friday 23 November 2012

From the plains of the Masai Mara, the slopes of the Atlas Mountains or the banks of the Nile, the skies of Africa can seem the widest on the planet. But they are notably empty of aircraft. In the course of a year, a typical group of 50 Africans will, between them, take only one flight; their British counterparts will take 100.

This week, however, the people of Africa may finally get what they need and deserve: a proper intra-continental low-cost airline that opens up the skies. Agreed, clean water, adequate nutrition and eradication of malaria may be higher up the agenda of the average citizen. But cheap, safe flying may help to realise the potential of a continent shattered by colonialism and corruption.

“Very rarely is there a road between big cities, and virtually never a railway, so aviation has to be the way they move around,” says Ed Winter, chief executive of Fastjet. This new budget airline, backed by easyJet’s founder, Stelios Haji-Ioannou, is due to take off on Tuesday. Its first base is Julius Nyerere airport outside Tanzania’s biggest city, Dar-es-Salaam. Fastjet plans a modest start. The first flight, at 6am to the Tanzanian city of Mwanza, is still available at the equivalent of £17. Another domestic link, to Kilimanjaro, begins the same day.

From the perspective of the average African, it must look like a mere drop of free-skies thinking in the ocean of moribund self-interest that has characterised aviation on this continent for decades. But 17 years ago this month, easyJet launched no-frills flights in Britain with a pair of links from Luton to Glasgow and Edinburgh. Affordable flying caught hold in Europe: easyJet now flies more passengers than BA, and indeed exceeds all the African airlines combined.

More....

http://www.independent.co.uk/travel/news-and-advice/simon-calder-could-africas-skies-at-last-be-wide-open-8344591.html

hi darshini,looks like fastjet is starting to be picked up by mainstream media now and also noticed an article in the Telegraph today.


Fastjet set for take-off in Africa - November 26th 2012

By Jolyon Attwooll

The inaugural flight of fastjet, the new African low-cost airline backed by the easyJet founder Sir Stelios Haji-Ioannou, is set to take off later this week. Flight FN0161 from Dar es Salaam to Mwanza in north-western Tanzania will depart at 6am local time on Thursday November 30, marking a new era in air travel in Africa. Later that day, another flight will take off from Tanzania’s largest city to Kilimanjaro International Airport on the country’s northern border. The neighbouring Kilimanjaro National Park is a major draw for tourists. The airline will have a limited flight network to begin with, flying to only those two destinations, both within Tanzania. Mwanza lies on the border of Lake Victoria, within easy striking distance of the Serengeti National Park. Its fleet will initially consist of three Airbus A319s, all based in Dar es Salaam, while the airline’s team will include 35 pilots, 65 cabin crew as well as seven maintenance specialist. However, the company describes its expansion plans as “ambitious”, saying they wish “to create Africa’s first pan-continental airline”. Possible future bases include the Kenyan capital Nairobi, as well as Ghana and Angola. One-way prices to both Mwanza and Kilimanjaro start from 32,000 Tanzanian shilling (£12.50), not including government taxes.Sir Stelios started easyJet in 1995 at the age of 28, and is still the largest single share-holder of the airline, although he has taken a step back from its day-to-day running.

27 November 2012

fastjet Airbus unveiled as Tanzanian government welcomes Africa's first Low-Cost Airline; Africa-handling partnership with Swissport agreed

fastjet, Africa's first low-cost airline, has today unveiled its first fully branded aircraft ahead of commencing flight operations in Tanzania in two days' time. At an industry event in Dar es Salaam, government officials, fastjet executives and aviation experts watched the Fastjet Airbus A319 take to the skies for the first time.

From Thursday, 29th November, fastjet will operate twice daily flights on its first two routes, Dar es Salaam to Kilimanjaro and Dar es Salaam to Mwanza, both popular domestic destinations. Tickets went on sale two weeks ago and fastjet has recorded strong demand; outstripping its initial expectations. Average fares are expected to be $80 but now start from as low as US$20 one-way (excluding taxes and charges) for customers who book early. Representing the Tanzanian Ministry of Transport, Deputy Minister Mr Charles Tizeba was also present at today's launch and welcomed fastjet's entry to Tanzania; demonstrating the government's support for the new airline.

Speaking today in Dar es Salaam, fastjet Chief Executive Ed Winter said:

"Today is an incredibly exciting day not just for fastjet, but for Tanzania and Africa as a whole. For years, the African aviation-market has been significantly underserved, lagging a very long way behind the rest of the world. GDP growth is fuelling a real increase in disposable incomes and consumer spending and although this is accompanied with a growing demand for travel, the African people just haven't had a reliable and affordable air travel option available to them. fastjet will now serve to fill that gap and we look forward to bringing the people of Tanzania and indeed the whole continent the first pan African low cost, point-to-point, all jet airline, operating to international standards of safety and quality."

fastjet is committed to becoming a large scale local employer and will recruit and train people on the ground. It has already hired over 70 local people in Tanzania in a variety of roles including cabin crew and sales staff and recruitment is expected to continue as the airline takes delivery of more aircraft.

Commenting on today's launch, John Leahy, Airbus Chief Operating Officers: Customers, said:

"fastjet's decision to base its fleet on A319s is testament to the aircraft's efficiency, reliability and suitability for the low-cost operations in Sub-Sahara Africa. With the market-leading modern Airbus single-aisle aircraft, fastjet will be introducing new levels of comfort and affordability to an African market which is set to double over the next 20 years."

fastjet will be run by an experienced aviation team led by Ed Winter, former Chief Operating Officer at easyJet and founding director of low-cost airline Go, Chief Commercial Officer Richard Bodin, former Contracts Director at easyJet and Business Director of low-cost airline Jet2.com, Operations Director Rob Bishton, former Chief Pilot & Head of Aircraft Operations at easyJet and General Manager of Africa Kyle Haywood, former Chief Executive of Air Uganda.

Fastjet operates under a brand licence agreement with easyGroup Holdings Limited and Sir Stelios Haji-Ioannou, founder of a leading low cost airline, easyJet. Commenting on the launch, easyGroup Holdings Chairman Sir Stelios said:

"Now it's Africa's turn! I am delighted to have played a small part in starting yet another revolution. I wish everyone involved happy landings!"

The airline anticipates that passenger numbers, which under the Fly540 brand currently stand at 750,000 per year could significantly increase following launch, as fastjet plans to operate a fleet of up to 15 A319s over the coming year.

fastjet's first base is in Dar es Salaam and its second base in Nairobi is planned to open in spring 2013. Once established in East Africa, the airline has plans to launch in Accra in Ghana and Luanda in Angola.

fastjet is also delighted to announce today that it has signed an agreement with Swissport International, the world's leading provider of ground services to the aviation sector, under which it will provide ground services throughout the airline's network.

Through an exclusive partnership agreement Swissport will supply a variety of airport services, be responsible for service delivery and support supply chain growth throughout the fastjet network.

Juan Jose Andres Alvez, Swissport's Executive Vice President of Ground Handling for Europe, Middle East, Asia and Africa, commented: "Swissport has a huge amount of experience in LCC handling in Europe and we look forward to assisting fastjet in building up this model in Africa, supported by our knowledge and processes. This partnership includes all of the logistics challenges involved in setting up a network of ground handling operations and management systems, representing a new type of relationship between service provider and airline and offering a great opportunity for Swissport to continue to build its network in Africa in partnership with fastjet."

fastjet Chief Executive Officer Ed Winter commented:

"Swissport has a world-leading reputation and track record for providing high quality ground services to airlines around the world. fastjet is creating a pan-continental African airline offering international standards of safety, quality, security and reliability and it is therefore essential for us to have a handling partner that gives these qualities top priority and one that also matches our ambitious growth plans for Africa."

Telegraph article on fastjet today


http://www.telegraph.co.uk/news/worldnews/africaandindianocean/9705364/Fastjet-launches-in-Africa.html

Fastjet, the first low-cost airline for Africa, backed by easyJet founder Stelios Haji-Ioannou, has launched with its British management team promising to "give people used to 12 hour bus rides the option to fly". Air travel in Africa is among the most expensive in the world, with some 45 minute flights costing more than £300. Fastjet offers base fares from £13 before taxes, cheaper than taking long-distance buses, and begins its first commercial flights from its hub in Tanzania's commercial capital, Dar es Salaam, on Thursday.

Its British bosses, former senior managers of airlines including easyJet, Go, FlyBe and Ryanair, intend to open new hubs in Kenya next and later in Ghana and Angola.

"There is no typical fastjet passenger," said Ed Winter, its chief executive and formerly chief operating officer at both Go and easyJet. "There will be everyone from people who have never flown before, to traders finding new markets, to government ministers. The idea is to give people who used to spend 12 hours on a bus to visit their relatives the option to fly for the first time."

Fastjet's first aircraft, a 156-seat Airbus A319 that was until six weeks ago in service with easyJet, took its inaugural public flight from Dar es Salaam on Tuesday, a 40-minute round trip over the Indian Ocean above Zanzibar.

Regular African passengers used to ample space in the continent's flag-carrying airlines are likely to be surprised at both the limited leg room and the charges for drinks, snacks and checked-in bags.

Apart from two domestic no frills outfits in South Africa, all other airlines in Sub-Saharan Africa operate full service flights.

"It is going to take a week or two to get this new model fully understood, few passengers in Africa have had exposure to the way low cost carriers operate," said Kyle Haywood, fastjet's general manager, who earlier helped launch the Gulf's first no frills airline, Air Arabia.

Fastjet plans to expand its fleet, all Airbus A319s, to 15 aircraft within 12 months. Its initial route focus will be in East Africa, with hubs in Dar es Salaam and Nairobi serving Ethiopia, South Sudan, Uganda and Rwanda.

"We're looking at a lot of different possible destinations," Mr Winter said. When asked if they might include Mogadishu, Somalia's capital, he said, "why not? There's a lot of demand." The company is majority owned by Lonrho, with Mr Haji-Ioannou holding 5 per cent of the shares and acting as lead consultant.

darshini, another good read on telegraph :-)

Problem with a company like this if you buy it on a spreadbet the spread is huge.

Tend to use derivatives these days as my net wealth means I pay A fortune in tax. Having said that I PAY 50% and dont use tax avoidance.

I hate people who do that. Should be kicked out imo if they dont pay fair whack.

Goldfinger, you could always buy stock direct if you like the look of it :-)

I think there is a limited amount of shares overhanging from some recent placings at 3.5p and my guess is that they were timed in raising and issue to be clear around the time of the launch or shortly afterwards. So at the moment the Pi,s can get in at the same price as the institutions and city boys at a discount IMVHO. As fastjet is a fairly new stock that is still off the radar to many and not traded big volumes yet it will be interesting to see how quick it rerates.Newsflow here will be regular and positive.

As per my post yesterday in ref to numbers, fastjet have said they will have 15 airbus a319 in service during 2013 which gives a potential passenger traffic of 3.75m ,each a319 is capable of transporting 250.000 passengers a year,they plan to reach a total of 40 aircraft which amounts to a nice round total of 10m passengers.They have also stated they think that could produce a $1 billion turnover business for them. If you look at how fastjet is configured it is effectively EASYJET AFRICA - fastjet is an easygroup brand and the management is mainly ex-easyjet executives that built EZJ from nothing and that is not just stelios but a number of other key men.

The growth here potentially is massive from current market cap :-)