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Fastjet

Old 29th Dec 2011, 12:46
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Rubicon share holders were due for a meeting on Dec 13th to discuss whether to proceed with a feasibility study for this project. Does anyone have any news?
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Old 29th Dec 2011, 12:48
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The FT says its a go-ahead....

Rubicon raises £9m for low-cost African airline - FT.com
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Old 29th Dec 2011, 13:25
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So, maybe they'll buy fly540: I suppose imitation really is the sincerest form of flattery!



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Old 29th Apr 2012, 16:43
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Any activity on the fastjet front?
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Old 6th Jul 2012, 16:46
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a319

A319's looking to begin in October apparently. 5 planes to be acquired within the next 6months? Anybody know what hub they plan to launch from? accra or nairobi?
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Old 6th Jul 2012, 20:09
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AppleMacster had more foresight than anyone gave him/her credit for
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Old 8th Aug 2012, 11:55
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July passenger stats for Fly540 (Fastjet)

Here is the latest Stock Exchange announcement.

FASTJET PASSENGER STATISTICS FOR JULY 2012



Month ending July 2012 July 2011 Change



Passengers 60,367 40,673 48.4%

Load Factor 65.2% 62.8% 2.4%





Rolling 12 months to July 2012 July 2011 Change



Passengers 609,108 336,333 81.1%




Note 1: Statistics are for the current Fly540 network operating out of Kenya, Tanzania, Angola and Ghana.

Note 2: An Embraer 170 (76 seats) and an ATR72-200 (66 seats) will join the Fly540 fleet in the second half of August.

Note 3: The FastJet brand is scheduled to add to passenger number from November 2012 with the launch of the first 156 seat Airbus A319 aircraft.
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Old 10th Sep 2012, 16:35
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FASTJET PASSENGER STATISTICS FOR AUGUST 2012

____________________________________________________________ ____
Month ending August 2012 August 2011 Change

Passengers 60,069 47,270 27.1%
Load Factor 64.7% 58.5% 6.2%


Rolling 12 months August 2012 August 2011 Change

Passengers 620,997 357,312 73.8%
____________________________________________________________ _____
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Old 17th Sep 2012, 07:38
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First base

FastJet Plc ("FastJet"), the AIM listed African airline in which Lonrho owns 67.4%, announces today that it will establish its first operating base at Dar es Salaam, Tanzania.

The airline will commence flying in November with seats going on sale online a few weeks earlier. Fares will be available for as low as $20 one-way excluding taxes and charges.

The lease for FastJet's first Airbus A319 aircraft has been signed with lessor BBAM and will arrive in Dar es Salaam next month. Recruitment for crew and ground staff is already well advanced.

FastJet Chief Executive Ed Winter said:

"Our initial focus will be on East Africa with the airline's first base at Dar es Salaam, Tanzania, where the A319 aircraft has already been approved by the Tanzania Civil Aviation Authority. This will be followed by a second base in Nairobi, Kenya, once the A319 is approved there. We look forward to bringing a great, reliable and affordable service to the people of East Africa."

Once established in East Africa, FastJet has plans to launch in Accra, Ghana and Luanda and Angola
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Old 6th Nov 2012, 11:12
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2 stories about Fastjet

EasyJet founder Sir Stelios' new budget African airline FastJet has unveiled its new branding ahead its website going live a week today.

The new branding, featuring the well-known African Grey Parrot, was selected following in-depth market research in Africa and reflects the Company's mission, values and target audience.

The new web site Home - FastJet Plc will go live next Tuesday to coincide with a big consumer launch from its first base in Tanzania.

Tickets will be sold online as well as through travel agents and fastjet's own sales desk, call centre and offices throughout East Africa.

Richard Bodin, chief commercial officer, said that the airline has a target date for the end of the month for its first flight but some of the regulatory issues were still being tied up so they are unable to say which route that will be.

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."

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.

Low cost airline grounded pending liquidation

Sir Stelios' budget African carrier is reported to have been in talks to buy a troubled airline which was grounded last weekend.

Low cost South African airline 1time ceased flying on Friday as the airline applied for business liquidation.

The rescue practitioner told South African news site News24 there was no prospect of survival after a' potential investor pulled out'.

South African trade union Solidarity, which represents 540 workers expected to be left jobless by the airline ceasing to trade, claimed budget African airline, FastJet, was the investor.

However fastjet said it was unable to comment on this. The African budget airline launched its new branding this week, see other story.

Passengers were left stranded in Zanzibar and Zimbabwe by the failure and were told via facebook that the airline would assist them with a cash reimbursement on arrival in South Africa up until yesterday.

A statement by 1time group CEO, Blacy Komani on the website said: "It is therefore with utmost regret,disappointment and heartfelt disbelief that we have to file for liquidation which means the end of a dream and an era for all of us."

1time applied for business rescue in August.

Source: Travel Mole

Last edited by LGS6753; 6th Nov 2012 at 11:14. Reason: To credit source
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Old 6th Nov 2012, 12:29
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From London Stock Exchange RNS

CompanyFastjet PLC TIDMFJETHeadlineReady to Launch with New Brand and Press ReportReleased07:00 05-Nov-2012Number2754Q07
/**/
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: +44 (0) 20 3651 6355
Ed Winter
David Lenigas
Richard Blakesley
Geoffrey White

Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
Angharad Couch
Sally Marshak
Eleni Menikou

W.H. Ireland Ltd. Tel: +44 (0) 20 7220 1666
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.


This information is provided by RNS
The company news service from the London Stock Exchange
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Old 12th Nov 2012, 15:28
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fastjet Passenger Statistics for October 2012


_________________________________________________________
Month ending October 2012 October 2011 Change

Passengers 51,015 40,305 26.6%

Load Factor 56.4% 57.9% -1.5%




12 months ending October 2012 October 2011 Change

Passengers 638,654 395,381 61.5%
________________________________________________________


Note 1: Statistics are for the current Fly540 network operating out of Kenya, Tanzania, Angola and Ghana.

Note 2: The Fly 540 Tanzania operation ceased on 12th October in preparation for the launch of the fastjet brand with A319 aircraft in November. This has reduced the Fly 540 seats available by approx. 10,000 seats per month
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Old 4th Feb 2013, 08:28
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Aviation in Africa is not a walk in the park, even for Stelios...

Fastjet faces having planes repossessed - Telegraph

Is the air getting thin up there for FastJet?

Let’s face it, Stelios’ boys messed up. The failure of FastJet to commence operations in Kenya first is from what the grapevine says entirely due to their dispute with Fly540. This is the lucrative market they wanted, not Tanzania. That was a second or third choice but in the end they had no option. Aircraft were purchased, crews recruited and they had to start earning revenue.
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Old 4th Feb 2013, 09:43
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FAST JET in trouble in Africa

Aviation in Africa is not a walk in the park, even for Stelios...

Quite right. It might be the reason why last week all pilot applications have been put on hold...?

Last edited by Vc10Tail; 4th Feb 2013 at 09:55. Reason: interrupted
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Old 5th Aug 2013, 21:24
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Fastjet has won its first international route licence, to operate Dar Es Salaam to Johannesburg. Flights start in late September.
It has also announced a share restructure to enable it to raise additional capital when required.

Anyone heard how it's really doing? I've read the financial stuff, but it's all PR.
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Old 6th Aug 2013, 17:51
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Its burning money like theres no tomorrow, but you can't expect much else starting an airline pretty much from scratch in Africa. A colleague has a friend who has just been recruited as a training capt. and he's no mug, so it could be going places. Well worth a gamble at 1p a share. Whats the value of EZY after 15 years in the business.
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Old 18th Aug 2013, 08:12
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Looking skyward for a price war | Business | Mail & Guardian
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Old 23rd Aug 2013, 16:18
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Well, I've been watching, and the share price, adjusted for the capital change, has dropped 25% in two weeks.
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Old 24th Aug 2013, 09:41
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Whilst it is not uncommon for a share to retrace after a consolidation, FJ, I suspect, is approaching a critical turn. If it can make its initial international routes work I still think it will survive and grow, but it could easily go horribly wrong and fold before Xmas. Fingers crossed for the investors.
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Old 24th Aug 2013, 11:13
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bacp

bacp,

I am confused. About 2 weeks ago, you said the shares were well worth a punt at 1p based on the view of your friend joining them.

Now, you fear they may go bust by Xmas?

I wouldn't touch the shares for a while yet. If they make a success of it, the sky is the limit and there will be plenty of upside.

BUT!!!!! Just because a share is a penny, it isn't cheap. If you invest £10000 in shares at £100 a share and the company goes bust you lose £10000.

Same goes for a penny share.

Therefore, the investment case is not there solely on that basis.
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