Fastjet

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From London Stock Exchange RNS

CompanyFastjet PLC TIDMFJETHeadlineReady to Launch with New Brand and Press ReportReleased07:00 05-Nov-2012Number2754Q07
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RNS Number : 2754Q
Fastjet PLC
05 November 2012


5 November 2012

For immediate release


fastjet Plc
("fastjet" or the "Company")

fastjet Ready to Launch with New Brand
and Responds to Newspaper Report

fastjet, Africa's first pan African low cost carrier, today unveils its new brand and announces it will begin selling tickets next week ahead of the airline's first flight this month.

The new branding, which replaces the existing placeholder logo, features the well-known African Grey Parrot which was carefully selected following in-depth market research in Africa and reflects the Company's mission, values and target audience.

Commenting on the new branding, fastjet Chief Executive Ed Winter said:

"The African Grey is renowned for its intelligence and is therefore a perfect personification of fastjet's motto; smart travel. We are delighted to be unveiling this new branding today, which better reflects our individual corporate identity and speaks to our key audiences.

"We hope that our friendly new mascot and logo will soon become universally recognised as symbols of reliability, efficiency and safety."

The airline now has three Airbus A319s as part of its fleet. All three aircraft are in the process of being painted with the fastjet livery before being dispatched to Tanzania ready for the launch.

The airline's new web site www.fastjet.com will launch next week providing information on routes and fare schedules. The site will soon allow tickets to be bought using credit/debit cards as well as mobile phone technology that debits the users phone accounts. Additionally, tickets will be sold through travel agents and fastjet's own sales desk, call centre and offices throughout East Africa. Tickets will be available from as low as $20 one-way excluding taxes and charges.
fastjet Chairman David Lenigas added:

"We are excited that the launch is now imminent and that fastjet will be turning from a concept into a reality.
"A recent story emanating from East Africa and picked up by the Daily Telegraph contained material inaccuracies regarding disputes with two Fly540 (Kenya) suppliers. Whilst we are not able to comment directly on these specific cases, we can confirm that the amounts in dispute are not deemed material, and that we will vigorously defend the company's interests as these cases progress. Our shareholders would expect us only to settle invoices that are accurate and appropriate.
"The launch of fastjet has generated enormous interest in East Africa and we are delighted with the strong partnerships being forged with suppliers and Governments across the region.
"Our announced launch and growth plans remain firmly on track."
ENDS

For further information please contact:

fastjet Plc Tel: [phone]
Ed Winter
David Lenigas
Richard Blakesley
Geoffrey White

Citigate Dewe Rogerson Tel: [phone]
Angharad Couch
Sally Marshak
Eleni Menikou

W.H. Ireland Ltd. Tel: [phone]
James Joyce
Nick Field
NOTES TO EDITORS
About fastjet Plc
fastjet Plc is the holding company for African airline Fly540, which operates from four bases in Kenya, Tanzania, Ghana and Angola. Fly540 currently has 10 aircraft serving around 25 domestic and regional destinations, carrying approximately 750,000 passengers per year with a strong emphasis on safety, security and reliability.
Following a consultancy assignment by easyJet founder Sir Stelios Haji-Ioannou's easyGroup focused on determining the feasibility of launching a European-style low-cost carrier in Africa, we are now preparing for the launch of fastjet, Africa's first low-cost carrier, flying a modern fleet of jet aircraft based on the Fly540 platform of licences and routes. First flights under the fastjet brand are expected to take place late November, bringing an entirely new flying experience to the African market.
fastjet Plc is quoted on the London Stock Exchange's AIM market. For more information see www.fastjet.com
Significant African Aviation Market Potential
Africa is a growth aviation market with regional and intercontinental traffic both growing rapidly as a result of the continent's continued economic expansion. With over one billion people, Africa is hampered by poor infrastructure, a lack of roads and railways and long distances between urban populations. The African aviation market is significantly underserved with air travel spending as a percentage of GDP a fraction of that of other emerging markets. With rapid economic growth and, as a result, the growing wealth of African citizens, more and more people will be able to benefit from aviation and fly for the first time. Airbus forecasts total passenger traffic in Africa will grow at an average yearly rate of 5.7% between 2010 and 2030, well above the 4.8 per cent world average growth rate and expects to deliver more than 1,100 new passenger aircraft, 4% of world deliveries, in the next 20 years to satisfy growing demand. Seven of the top 10 fastest growing global economies are now in Africa with consumer spending for the continent forecast to reach US$1.6 trillion by 2020. A recent McKinsey report (June 2010) forecast that 128 million households in Africa are expected to have discretionary income to spend by 2020, while 50% of Africans are expected to live in cities by the same date with urban jobs bringing rising incomes. The McKinsey report concluded that today the rate of return on foreign investment in Africa is higher than in any other developing region and that early entry into African economies provides opportunities to create markets, establish brands, shape.

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