Lonrho PLC (LONR) - fastjet Unveils New Brand
RNS Number : 3198Q
05 November 2012
5 November 2012
Lonrho is pleased to announce that fastjet Plc ("fastjet" or the "Company"),
the AIM listed African airline in which Lonrho owns 67.4% has today made the
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
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."
Lonrho Plc +44 (0) 20 7016 5105
FTI Consulting +44 (0) 20 7831 3113
Jefferies Hoare Govett +44 (0) 20 7029 8000
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 rateand 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
This information is provided by RNS
The company news service from the London Stock Exchange
MSCBELFBLFFXFBE -0- Nov/05/2012 11:00 GMT
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