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
Thursday, September 12, 2013
Fly540 Kenya (5H) has announced that it has increased the frequency of flights between Nairobi (Jomo Kenyatta International Airport) and Lodwar, the largest town in north-western Kenya, located west of Lake Turkana, from six to nine per week in response to rising demand. The LCC said it had added an additional flight on Monday, Wednesday and Friday respectively, resulting in two flights operating on each of these days. The return flights operate via Eldoret.
Wednesday, September 11, 2013
The CEO of Ghanaian domestic operator, Antrak Air (O4), Alhaji Asuma Banda, says he is seriously considering pulling out of the country as the presence of too many carriers on the Ghanaian domestic scene has rendered it almost impossible to operate an airline profitably.
Tuesday, June 11, 2013
Fly540 Kenya (5H), has announced the expansion of its flight network with the signing of its first international interline agreement with Qatar Airways (QR) which will initially entail providing an inbound interline service for passengers arriving in Kenya.
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.
Thursday, May 30, 2013
Reports out of Ghana claim that Fly540 Ghana (5G) has at last been tentatively granted traffic rights to Nigeria following the intervention of the Ghanaian Ministry of Transport and Civil Aviation Authority (GCAA).
Tuesday, April 23, 2013
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.
Wednesday, April 3, 2013
► FLEET UPDATE BULLETIN: Vulkan Air (South Africa), Air Namibia (SW), Fly540 Angola, Atlas Aviation Kenya.
The following is a fleet update bulletin for aircraft that are in use, have been in use or will be in use for these listed airlines: Vulkan Air (South Africa), Air Namibia (SW), Fly540 Angola, Atlas Aviation Kenya.
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
■ GHANA: Fuel shortages ground domestic airlines 'til Tuesday; international operators forced to make other plans.
An ongoing jet fuel crisis caused by supply problems in Togo and exacerbated by lack of reserve at the national oil refinery in Tema, has compelled Ghana's domestic operators to suspend flights for the next three days (Sunday included), say reports out of Accra.
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.
Monday, January 28, 2013
Further to the press comment made by the UK’s Sunday Times newspaper (“EasyJet’s chairman quits after Stelios rows”, Section 3: Business, Page 1), Five Forty Aviation Ltd confirms that it has instructed its lawyers to recover an acknowledged debt of USD6.8million from Lonrho Aviation Ltd.
► KENYA: fastjet in talks to "partner" Jetlink Express; refutes allegations it owes money to Fly540 founder.
The "investors" bankrupt Kenyan regional operator, Jetlink Express (J0), mentioned have turned out to be none other than fastjet (FN). In a scenario that resembles its ongoing battle to acquire defunct South African LCC 1Time (T6), fastjet has mentioned that its interest in Jetlink revolves around the latter "owning the traffic rights for all local destinations, as well as a number of regional routes."
Wednesday, January 9, 2013
► TANZANIA: fastjet posts strong first month pax numbers with almost 30'000 flown with near 80% load factors.
Tanzanian based LCC fastjet (FN) has revealed its first month's operating figures since taking to the skies in late November 2012, with almost 30'000 passengers carried during the month of December, averaging almost 80% loads factors.
Sunday, January 6, 2013
■ KENYA: (Pics) A Look at Lamu's Manda Airstrip's old and new facilities set for completion in May 2013.
Construction works at Manda Airstrip, located on Manda Island in the Lamu Archipelago in eastern Kenya, are progressing with completion expected in May of this year. The upgraded 2'000m long runway and new terminal will allow tourists to fly directly to Lamu from their respective countries. At present, tourists arriving on international flights have to clear customs and immigration formalities at either Jomo Kenyatta International Airport, Nairobi, or Mombasa, or Malindi before flying into Lamu as a domestic flight.
Wednesday, December 19, 2012
Following the recent announcement that it was in talks to buy 1Time (T6), the South African low cost airline that went into liquidation last month, fastjet(FN), has entered into an option agreement to buy the entire issued share capital of 1time Airline from its parent company, 1time Holdings Limited, for ZAR1 (USD0.12). Initially, the airline will operate with three 1Time aircraft before Airbus A319s are added and the airline completely rebranded to fastjet.