April 23 (Bloomberg) -- FastJet Plc and Five Forty Aviation Ltd. Chief Executive Officer Don Smith said they have agreed to end a legal battle in a dispute over payment and licensing agreements in Africa.
The accord with Nairobi-based Five Forty is designed to reach “mutually beneficial and constructive resolutions,” FastJet said in a statement today.
London-based FastJet, which began commercial flights Nov. 27, combined with Five Forty Aviation in June to gain access rights in Ghana, Kenya, Tanzania and Angola. Smith in February withdrew licensing rights, saying FastJet had reneged on payments, triggering the legal battle.
“The signing of this MOU provides a positive platform for FastJet to strengthen its East African Hub,” Ed Winter, FastJet CEO, said in the statement. Smith will remain head of the Kenyan Fly540 business.
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