Tanzanian LCC, fastjet (FN), has announced that it has entered into a Memorandum of Understanding with Don Smith, CEO of FiveForty Aviation Limited which trades in Kenya as Fly540, thereby paving the way forward for the two to end a long standing legal battle over payment and licensing agreements in Africa.
Tuesday, April 23, 2013
Wednesday, March 20, 2013
Don Smith, the owner of Five-Forty Aviation, who is currently embroiled in a lawsuit with fastjet PLC over ownership rights to to the Fly540 brand, says fastjet's move to initiate legal proceedings constitutes a breach of contract.
Thursday, March 7, 2013
In the latest episode in the fastjet vs Don Smith soap opera, the Tanzanian LCC has now moved to take legal proceedings against Mr Smith, owner of 540 Aviation, seeking "a declaration that it has fulfilled its obligations under the Sale and Purchase Agreement" regarding Mr Smith's shares in Fly540.
Sunday, February 17, 2013
Fastjet (FN), the controversy-prone Tanzanian based LCC, has issued yet another statement refuting as "inaccurate" recent allegations in the Tanzanian press that it now owes the Tanzanian Airports Authority (TAA) TSh570'668'242.00 and USD95'360 in outstanding landing and parking charges.
Friday, February 8, 2013
■ KENYA: Fly540 disputes Fastjet's claim that its owns 540 Aviation; maintains it is "independent of Fastjet".
Don Smith's Five Forty Aviation Limited has issued its own statement on yesterday's Fastjet statement issued on behalf of David Lenigas, Fastjet's boss. The update seeks "to correct the factual inaccuracies contained in the statement issued by FastJet". Smith asserts that, contrary to Lenigas' claims, brand licence agreements do in fact exist.
Thursday, February 7, 2013
■ KENYA: Fly540 now withdraws brand licence issued to Fastjet for Tanzania, Angola, Ghana; Fastjet claims it is sole owner of Fly540 brand.
Fly540's owner Don Smith has ratcheted up the stakes in his ongoing war with Fastjet (FN) by withdrawing his carrier's brand licences granted to fastjet for Angola, Ghana and Tanzania. Fly540 yesterday claimed that Fastjet still owes its USD7.7 million in licensing fees (USD6.9 million in Tanzania, USD500'000 in Angola and USD300,000 in Ghana), a claim David Lenigas, Chairman of fastjet, disputed stating that fastjet is the sole owner of the 540 brand (including fly540 Kenya).
Wednesday, February 6, 2013
■ TANZANIA: Fastjet working closely with creditors over Don Smith's undisclosed historic debts: Ed Winter.
After yet another round of press reports stating the carrier was in legal trouble regarding its alleged failure to settle bills run up by its Tanzanian predecessor, Fly540 Tanzania, LCC fastjet has issued a second statement rebuking claims it still owes money to its Kenyan subsidiary Fly540 Kenya.
Monday, February 4, 2013
AvMax Aircraft Leasing has joined the growing list of disgruntled suppliers demanding their money from Fastjet (FN). The Canada-based ACMI firm recently wrote to Fastjet stating it had moved to deregister three of its aircraft previously leased to Fastjet's predecessor, Fly540 Tanzania, over USD2million worth of unpaid leasing and maintenance bills.