Directorate Change - 9 June 2016

fastjet Plc

("fastjet" or the "Company")

9 June 2016

Directorate Change

fastjet Appoints Nico Bezuidenhout as Chief Executive Officer

The Board of fastjet (AIM: FJET) is pleased to announce the appointment of Nico Bezuidenhout as Chief Executive Officer (CEO) of the Company.  Nico will take up his position and join the Board as an executive director on 1 August 2016.

Nico will be joining fastjet from Mango Airlines, the low-cost carrier subsidiary of South African Airways, where he has been CEO since Mango commenced operations ten years ago.  During his tenure, Nico grew the airline's market share to 25 per cent of the South African domestic air travel market and the fleet to ten Boeing 737-800 aircraft.  He also achieved the lowest unit cost within the South African aviation industry through high aircraft utilisation and sustained good load factors. 

In addition to playing a pivotal role in the success of Mango, which has been profitable in eight of the past ten years, Nico has also twice acted in the capacity of interim CEO of its parent company.

Commenting on Nico's appointment, fastjet Chairman Colin Child said:  "The Board is delighted that Nico will be joining fastjet as CEO.  He brings strong commercial and strategic skills and a wealth of experience of operating a low-cost carrier.  This experience, together with his detailed knowledge of the markets in which fastjet operates, will be invaluable to the Company as it seeks to capture the growth opportunities in the region."

Nico added: "I am very pleased to be joining fastjet at this stage in its development.  Although market conditions are currently challenging, I am confident that we can build on the airline's existing operational base to strengthen and develop the business and deliver on its considerable potential."

The names of all companies and partnerships of which Nico Bezuidenhout, aged 39, has been a director or partner at any time in the previous five years are set out below:

Company

Status

Mango Airlines SOC Limited

Current

 

There are no other matters which are required to be announced pursuant to paragraph (g) of Schedule 2 to the AIM Rules.

 

For more information, contact:

Colin Child, Executive Chairman

 

Lisa Mitchell, Chief Financial Officer

 

UK media - Citigate Dewe Rogerson

Tel: +44 (0) 20 7638 9571

Angharad Couch

 

Eleni Menikou

 

Toby Moore

 

South African media - Tribeca Public Relations

Tel: +27 (0) 11 208 5500

Cian Mac Eochaidh

 

Kelly Webster

 

For investor enquiries please contact:

 

Liberum Capital Limited - Nominated Adviser and Joint Broker

Tel: +44 (0) 20 3100 2222

Clayton Bush

 

Christopher Britton

 

W.H. Ireland Ltd.- Joint Broker

 Tel: +44 (0) 20 7220 1666

James Joyce

 

Mark Leonard

 

 

NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. 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. Utilising its fleet of Airbus A319s, fastjet is implementing the low-cost model across Africa with a long-term strategy to become the continent's first low-cost, pan-Africa airline.

The results of the first quarter 2016 customer satisfaction surveys showed that an average of 73% 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 Africa's Leading Low-Cost Airline 2016 at the 23rd World Travel Awards, winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet Plc is quoted on the London Stock Exchange's AIM Market.

 

For more information see www.fastjet.com

Posted on 9th June 2016