Final results for the year to 31 December 2015 - 2 June 2016

fastjet Plc

("fastjet" or the “Company”)

(AIM: FJET)

Final results for the year to 31 December 2015

2 June 2016

fastjet, the low-cost African airline, announces its audited final results for the year ended 31 December 2015.

Financial highlights

  • Revenue on continuing activities up 21%
  • Negative cash flow from operating activities US$(36.9m) (2014: US$(27.2m))
  • Equity fund raise in April 2015 of US$75m before expenses

Operational highlights

  • Passenger numbers up 32% to 787,771
  • fastjet Tanzania load factor down 6.6 percentage points to 66.7%
  • fastjet Tanzania aircraft utilisation up 10% to 11.2 hours during peak months
  • Named Africa’s Leading Low-Cost Airline 2016 at the World Travel Awards

Strategic highlights

  • fastjet Zimbabwe commenced services
  • Flights from Tanzania to Kenya approved
  • Further rationalisation of legacy operatives including disposal of Fly 540 Ghana and Fly 540 Angola classified as abandoned
  • Rationalisation of route network progressing well
  • Search for new Chief Executive Officer well advanced

 

Please click here to download the full document

Posted on 2nd June 2016