Lonrho PLC LONR Re fastjet Plc website

  Lonrho PLC (LONR) - Re fastjet Plc website

RNS Number : 1186R
Lonrho PLC
14 November 2012




14 November 2012

                                  Lonrho Plc
                                  ("Lonrho")

                                      

Lonrho is pleased  to announce that  fastjet Plc ("fastjet"),  the AIM  listed 
African airline in which Lonrho currently owns 67.4%, has today made the below
announcement. Further to fastjet's previous announcement on 12 November  2012, 
Lonrho's holding will reduce  to 65.8% following  the completion of  fastjet's 
US$2.4m placing.

                                 fastjet Plc

  ('fastjet' or the 'Company')

New fastjet Website Now Live; First Tickets Go On Sale

fastjet, Africa's first pan African low  cost carrier, is pleased to  announce 
the new www.fastjet.com website is now live  and tickets are on sale ahead  of 
the airline's first flight later this month.

Tickets for domestic routes in Tanzania including Dar es Salaam -  Kilimanjaro 
and Dar  es Salaam  - Mwanza  went  on sale  yesterday through  the  Company's 
offices (see  appendix)  and  travel  agents.  On-line  internet  booking  is 
available from this  morning with  payment options  available through  fastjet 
offices, travel agents and bank accounts. Fastjet will be introducing  credit 
card and further innovative payment options including M-Pesa and Airtel  Money 
over the coming months.

fastjet's CEO Ed Winter said:

"We have had an great  response to our first tickets  going on sale with  over 
100 seats sold within the first two hours for flights departing from the 29^th
November. Everyone at Fastjet  is really excited about  bringing low cost  air 
travel to  the people  of Africa  and with  prices starting  at US$20  one-way 
excluding taxes and  charges, we are  making flying an  affordable option  for 
more Tanzanians than ever before."

fastjet Executive Chairman David Lenigas added:

"The sale  of  the first  tickets  for fastjet  anywhere  in the  world  is  a 
momentous day for the Company and the  culmination of six months of hard  work 
from the  fastjet team.  Our first  three  Airbus A319s  will be  arriving  in 
Tanzania shortly and we  are very much looking  forward to providing  reliable 
airline services to an international standard for the people of Africa.

"The fastjet launch in Tanzania will be the start of what the Company believes
will be a truly great pan African low cost airline. Over time, we plan to have
fastjet flying the Continent of Africa from north to south and east to west."

Fly540 flights in Ghana, Angola, Sierra  Leone and Cote d'Ivoire can still  be 
booked  through  the  www.fly540africa.com  website  and  Kenya  through   the 
www.fly540.com website. Strong  growth has  been recorded in  the Angolan  and 
Ghanaian hubs  in the  last few  weeks as  the fastjet  yield management  team 
refine pricing and route scheduling in these areas. This performance will  be 
demonstrated in next month's passenger statistics reporting.

Passenger numbers for the month  of October stood at  51,015, up 26.6% on  the 
same month last year.

                                     Ends

Enquiries:

Lonrho Plc +44 (0) 20 7016 5105

Geoffrey White

David Armstrong

FTI Consulting  +44 (0) 20 7831 3113

Edward Westropp

Georgina Bonham

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 
brands, shape.





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MSCBKQDQBBDDKDD -0- Nov/14/2012 13:00 GMT