Fastjet PLC FJET fastjet commences commercial flight operations

  Fastjet PLC (FJET) - fastjet commences commercial flight operations

RNS Number : 2699S
Fastjet PLC
29 November 2012






29 November 2012



                                      

                                 fastjet plc

                         ("fastjet" or the "Company")

                                      

          fastjet commences commercial flight operations on schedule

                                                                             

fastjet,  Africa's  first  low-cost   airline,  commenced  commercial   flight 
operations today with its first aircraft flying passengers from Dar es  Salaam 
to Mwanza in Tanzania.  The fastjet A319 left  Dar es Salaam's Julius  Nyerere 
airport at 6 am (CAT) almost full  to capacity; well over half the  passengers 
on board paid USD$20 (excluding taxes and charges) for their seat.



The maiden flight marks the official start of fastjet's commercial  operations 
in Africa; fully on  schedule. Chief Executive  Ed Winter personally  welcomed 
passengers on board.



A second A319 carrying  more fastjet customers on  the airline's second  route 
from Dar es Salaam to Kilimanjaro in Tanzania set off later the same  morning. 
Travelling on board  with passengers, Chief  Commercial Officer Richard  Bodin 
said:



"I would like to extend  a warm welcome to  all our new passengers  travelling 
today, a very special  day for us. Today's  flights to Kilimanjaro and  Mwanza 
mark the  start of  a new,  revolutionary,  smart way  to travel  for  African 
people, and our first steps towards becoming a low cost, reliable  pan-African 
airline."



Ticket sales for flights on fastjet's  first two routes have been very  strong 
since sales started just over two weeks  ago. Seats are being secured well  in 
advance by passengers with bookings into February 2013.



Earlier this week, the launch of  fastjet was celebrated at an industry  event 
at Julius  Nyerere airport,  during which  the Honourable  Deputy Minister  of 
Transport for Tanzania Charles Tizeba said:



"I would like to congratulate fastjet  on its decision to choose Tanzania  for 
its first  base in  Africa in  providing low  cost domestic  and regional  air 
transport services. The Government  recognises the need for  the low cost  air 
operations and  its  immense  contribution  to  the  development  of  the  air 
transport industry in the country and the overall development of our economy."



fastjet expects its third A319 to arrive in Dar es Salaam next week and  will 
publish monthly passenger figures on its website www.fastjet.com



For media enquiries please contact:



UK media - Citigate Dewe
Rogerson Tel:
+44 (0) 20 7638 9571



Angharad Couch

Eleni Menikou



Africa Media - Africa
Practice
Tel: +254 (0) 20 239 6899



Natalie Maule

Anna Riley

Joan Kiambati

Meg Muigai

Evelyn Njoroge



For investor enquiries please contact:



W.H. Ireland
Ltd.
Tel: +44 (0) 20 7220 1666



James Joyce

Nick Field









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.

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

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 industry structure, influence consumer preferences and establish
long-term relationships.



The Low-Cost Airline Model



The low-cost airline model seeks to attract large numbers of additional
passengers by offering significantly lower fares. The fares need to be low
enough to persuade people who did not previously travel by air to do so, and
others to travel more often. The global experience of launching a low-cost
carrier is that it creates a completely new market rather than a
redistribution of market share in the existing market.













                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCFMMZMMRDGZZZ -0- Nov/29/2012 07:01 GMT
 
Press spacebar to pause and continue. Press esc to stop.