fastjet Secures International Route Approvals - 14 June 2013

fastjet plc

("fastjet" or the "Company")

14 June 2013

fastjet Secures International Route Approvals

fastjet has been granted permission to launch international flights from Tanzania to South Africa, Zambia and Rwanda marking a major step towards establishing the first-ever pan-African low-cost network. 

These route approvals have been granted by the relevant Governments under the Bilateral Air Services Agreements (BASAs) between Tanzania and the other countries.

Commenting on today's news, Ed Winter, CEO and Chairman of fastjet said: "This is a monumental day in fastjet's history and brings us closer to our goal of becoming Africa's first pan continental low-cost airline. To date our growth has been inhibited by lack of international routes in our network.  We have expended huge effort over the past six months in obtaining these rights and we can only thank the government and population of Tanzania who have lobbied hard to allow us to gain access to the bilateral rights to operate to these countries. We will soon announce launch dates for flights to Johannesburg, Kigali and Lusaka from Dar es Salaam.

"We are especially pleased to be launching flights between Dar es Salaam and Johannesburg and we expect this to be a particularly popular route. South African Airways has had a monopoly on this route for far too long and we are very keen to offer substantially more affordable fares to customers and further stimulate the potential traffic between these key African cities. This can only have a very positive effect on the critical trade, commercial and tourism industries between South Africa and Tanzania."

fastjet Chief Commercial Officer Richard Bodin stated: "fastjet is currently planning a huge sales launch activity that will see it offering its customers never-seen-before fares. We hope to offer early booking passengers fares as low as $100 (one way excluding government taxes and charges) to and from Johannesburg. We have made a commitment to the people of Africa to democratize air travel on the continent and this is another very significant step on that journey."

Following today's international route announcement, along with fastjet signing a Memorandum of Understanding with Nigeria's Red 1 Airways Ltd to create a low-cost airline operating within Nigeria and to destinations across Africa, the fastjet Board has taken the decision to put the launch of fastjet-branded domestic routes in South Africa temporarily on hold so that it can direct all its efforts and resources to starting its international services as soon as possible.

Ed Winter added: "Bringing the fastjet brand to South Africa is a cornerstone in the creation of our pan-African network.  We remain totally committed to launching the fastjet brand in South Africa as soon as possible, but given all the time and effort the team has invested over the past months to secure our international route designations, we have taken the sensible decision to prioritize setting up these lucrative and high profile routes first, before turning our attention to launch the fastjet brand on domestic routes in South Africa."



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About fastjet plc

fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand commenced in Tanzania in November 2012. The airline has introduced Airbus A319s into its fleet. By adhering to international standards of safety, quality, security and reliability, fastjet has brought a new flying experience to the African market at unprecedented low prices. fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

In the year to March 2013, fastjet and its subsidiaries carried almost 800,000 passengers, 50% more than a year previously, and 99.2 per cent of its flights left on time with no cancellations. The results of a recent customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend.  In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet and the award for "Brand Strategy of the Year" at the recent Drum Marketing Awards in London.

 fastjet plc is quoted on the London Stock Exchange's AIM market.

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Posted on 14th June 2013