fastjet Update on South African launch - 7 May 2013

fastjet plc

("fastjet" or the "Company")

7 May 2013

fastjet Update on South African launch

Johannesburg, 23 April - fastjet, Africa's low-cost airline, are pleased to announce that the Company has taken the next step towards launching its planned air service in South Africa between Johannesburg and Cape Town.

fastjet has led negotiation for its colleagues, Federal Air and fastjet holdings, to lease a 737 aircraft from Starcargo Airlines, an experienced aircraft leasing company based at OR Tambo Airport in Johannesburg, on a full ACMI "wet lease" service. This means that Starcargo will be providing the aircraft, crew, maintenance and insurance elements for the initial launch of the domestic service. Federal Air will operate the service for  fastjet holdings (PTY) limited, in which the Company has a 25 per cent. Interest.

This arrangement is initially for 6 months and will allow the quickest opportunity to enter into the South African market, and allows fastjet to operate whilst the Company goes through the process of obtaining permission from the South African authorities to operate its Airbus 319 aircraft in South Africa, in conjunction with the Federal Airlines relationship.

The Boeing 737-300 is a particularly successful aircraft that is frequently used by low cost airlines across the world. In this particular configuration, the aircraft has 144, leather seats, is powered by CFM engines.

Commenting on this arrangement, Kyle Hayward, CEO of fastjet holdings (PTY) limited said:

"This is yet another definitive step towards the commencement of fastjet services and we remain on track for an end of May launch.

"fastjet is working hard with its South African partners to put this initial route (Johannesburg to Cape Town) on sale shortly."


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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 and 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  a nomination for the prestigious Drum "New Product or Service launch" award. 

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

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Posted on 7th May 2013