fastjet (FN) has announced a USD24.9million EBIT loss for the first half of its 2013 Financial Year ended 30 June 2013. In its statement, the company said that its Tanzanian LCC is now profitable "on an underlying route level basis", though it did post operational losses of USD9.1million and USD4.2million in 1Q and 2Q of this year respectively.
Tuesday, October 1, 2013
Friday, September 27, 2013
► SOUTH AFRICA: DoT redtape forces Fastjet to suspend launch of Dar es Salaam - Johannesburg flights.
fastjet (FN) has announced that its first international flight between Dar es Salaam and Johannesburg, previously scheduled to take place on Friday 27 September 2013, has been temporarily postponed owing to what it claims are "unexpected administrative delays caused by a very late request for additional documentation by the South African Department of Transport".
Wednesday, September 4, 2013
In a departure from the orthodox LCC business model, fastjet (FN) has signed an agreement with freight specialists, BidAir, in which it will carry belly-hold cargo on its fleet of Airbus A319s. According to the LCC, it intends to carry "dry" cargo such as post and newspapers.
Thursday, August 29, 2013
As previously reported, fastjet (FN) has announced the launch of flights from Dar es Salaam to Mbeya (Songwe airport) with effect from November 1. The route will operate 3x weekly on-board an Airbus A319. Reservations will open this week.
Friday, August 23, 2013
Struggling LCC fastjet (FN), is set to become the second major Tanzanian carrier to embark on a redundancy drive following reports that it is in consultations with its employees regarding pending staff cuts aimed at trimming its head-count by 12%.
Tuesday, August 13, 2013
fastjet (FN) says one of its three Airbus A319s was temporarily grounded in Tanzania following a birdstrike on August 8. The incident resulted in some flights between Dar es Salaam and Mwanza being cancelled.
Tuesday, July 30, 2013
fastjet (FN) has announced that its first international flights, from Dar es Salaam to Johannesburg, South Africa, will début from September 27. Initial frequencies will be limited to 3x weekly though this is expected to grow in line with demand. Flights will operate with an Airbus A319.
Friday, July 26, 2013
Tanzanian LCC, fastjet (FN), has announced that easyGroup, the investment vehicle of Mr Stelios Haji-Ioannou has increased its stake in the airline from 3% to 5.81% in lieu of all royalty and consultancy payments due to the group up until year end.
Wednesday, July 24, 2013
Further to a previous report in which fastjet (FN) allured to being in talks with four unnamed African carriers over possible partnerships, company Chief Commercial Officer, Mr Richard Bodin, has said that his airline, in addition to now having a "confirmed licence" in Nigeria, was now close to completing the initial steps for applications to fly in Uganda though gave no further details.
Wednesday, July 17, 2013
With the launch of Johannesburg - Dar es Salaam flights said to be approaching "soon", fastjet says once operations are in place, it would like to get in on the difficult to access, albeit very lucrative, South Africa - Mozambique and South Africa - Zimbabwe markets.
Friday, July 5, 2013
► SOUTH AFRICA: DoT grants fastjet Foreign Operators Permit paving way for Dar - Joburg; no mention of Kigali or Lusaka (yet).
Following on from its previous announcement, fastjet (FN) says it has been issued a Foreign Operator Permit from the South African Department of Transport thereby paving the way for the launch of flights between Dar es Salaam and Johannesburg.
Thursday, June 27, 2013
On the back of recent investments in South Africa and Nigeria, fastjet (FN) is reportedly in negotiations with as many as four airlines over possible partnerships, as the struggling LCC attempts to spread its wings across the continent, albeit circuitously.
Friday, June 14, 2013
► TANZANIA: fastjet suspends South Africa launch as traffic rights to Lusaka, Kigali and Johannesburg are granted.
Struggling Tanzanian LCC, fastjet (FN), has been granted rights to service routes from Tanzania to South Africa, Zambia and Rwanda it has emerged. As a result of this development, the fastjet board has taken the decision to put the July 1 launch of its domestic South African operation temporarily on hold so that it can direct all its efforts and resources to starting its international services as soon as possible
fastjet plc (fastjet) has signed a Memorandum of Understanding (MoU) with Nigeria's Red 1 Airways Ltd (Red 1), to create a low-cost airline operating within Nigeria and to destinations across Africa. The MoU brings together fastjet's strong brand, reputation, management experience and economies of scale, and RED 1's extensive local market knowledge within Nigeria. The airline will be branded fastjet Nigeria strongly mimicking the airline's planned South African venture.
Wednesday, June 12, 2013
David Lenigas has resigned as chairman of struggling Tanzanian LCC, fastjet (FN) with immediate effect and has been replaced by Chief Executive Officer, Ed Winter, on an interim basis, until a permanent successor is found.
Tuesday, June 11, 2013
fastjet (FN) has scrapped its convertible arrangement with New York-based asset management firm Bergen Global Opportunity Fund, because of the "potential adverse impact on the share price."
Monday, June 10, 2013
■ SOUTH AFRICA: Comair Ltd forecasts 20% rise in earnings for this year as fastjet may face more launch obstacles.
South African aviation group, Comair Ltd, the parent company of both kulula.com (MN) and its British Airways-franchise, BA Comair, says it expects its headline earnings and earnings per share for the first nine months of the year to June 2013 to be over 20% higher than last year, but did not, however, quantify the extent of its results.
Monday, June 3, 2013
■ TANZANIA: fastjet looks to reduce holding in Fly540 Tanzania as its Ghana, Angola, Kenya outfits "all underperform".
fastjet (FN), in its results for the 18 month period to 31 December 2012 has said that its Fly540 businesses in Tanzania, Kenya, Ghana and Angola - acquired from Lonrho Plc - have "all seriously underperformed relative to expectations" with management having now taken the necessary steps to restructure these businesses and remove legacy inefficiencies. Overall, fastjet says it had posted a loss before tax of USD55million, including USD23.5million of write-downs of goodwill and other matters. As a consequence, the airline says it will focus its attentions on its nascent South African operations with plans to reduce its majority shareholding in Fly540 Tanzania to various undisclosed Tanzanian shareholders.
Tuesday, May 28, 2013
► SOUTH AFRICA: Skywise due in the skies from August 1 as DoT pours more cold water on fastjet's plans.
Johannesburg-based carrier, Skywise, the brainchild of several ex-1Time (T6) board executives, is aiming for an August 1 launch, exactly 1 month after fellow entrants, fastjet (FN), via their tie up with Federal Air (7V), plan to launch their operations.
Thursday, May 16, 2013
As previously speculated by The African Aviation Tribune, fastjet (FN), has indeed announced a postponement in its planned South African venture with flights now set to commence from July 1, the carrier's chief commercial officer, Richard Bodin, has said.