South Africa-based PAKAfrica Aviation has reportedly acquired a 49% stake in Zimbabwe's Central Air Transport Services (ZO) and intends to use the acquisition, in conjunction with a proposed ZAR15million (USD1.5million) buy out of defunct South African LCC, 1time (T6), to establish a regional hub out of Harare.
Thursday, August 15, 2013
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.
Wednesday, March 6, 2013
As prognosticated by The African Aviation Tribune in November 2012, Air CEMAC, the planned regional carrier to link Cameroon, the Central African Republic, Congo (Brazzaville), Gabon, Equatorial Guinea, Chad and São Tomé & Príncipe, has indeed been forced to delay its intended January 2013 launch date, this time, to November/December 2013.
Monday, March 4, 2013
London-based cargo outfit Coyne Airways (7C) has launched what it terms "customer-focused services" to over 30 destinations across Africa, routed through three of the Continent’s main hubs - Lagos, Nairobi and Johannesburg.
Sunday, February 3, 2013
The Tanzanian Government has confirmed it is in talks with British carrier Virgin Atlantic (VS) over the possible launch of flights between the United Kingdom and the East African country following British Airways (BA) decision to axe Dar es Salaam from its network effective 31 March.
Monday, November 5, 2012
Nigeria's largest carrier, Arik Air (W3), celebrated its 6th birthday at an event held at its corporate headquarters in Lagos, Nigeria.
Monday, September 3, 2012
Press reports out of Liberia state that British Airways (BA) is to resume flights to Monrovia, Liberia by the end of October, following the recent visit to the country by BA's Regional Service Manager for sub-Sahara Africa, Rob Cooper.
"The press release from the Ministry of Transport said Mr. Cooper is in the country to explore possibilities for the airways to recommence flights to Liberia. Mr. Cooper said the level of peace in Liberia makes it an ideal moment for British Airways to do business here again. Deputy Minister J. Ebenezer Kolliegbo told Mr. Cooper that the decision
Wednesday, June 13, 2012
► UNITED KINGDOM: Stelios Haji-Ioannou acquires Fly540's parent company Lonrho Aviation; FastJet one step closer to reality.
|Stelios Haji-Ioannou (easyGroup)|
As part of the deal, Haji-Ioannou's easyGroup Holdings Limited will own 5% of the ordinary share capital of Rubicon with the option of acquiring a further 10% in addition to receiving royalties equivalent to 0.5% of revenue. Rubicon will also avail its substantial financial resources and experience with its successful Fly540 brand, to allow for the realization of "FastJet", the soon-to-be Ghanaian startup that will service West Africa.
Lonrho Aviation t/a Fly540 is a Nairobi-based LCC with franchises in Kenya, Tanzania, Ghana and Angola, who, as of 31 December 2011 had Total Assets of US$ 83.5 million and in the 15 months to December 2011, made a loss after tax of US$ 19.0 million. The majority of these losses were predominantly due to the start-up and establishment costs of opening the Angola and Ghana operational hubs.
"In addition to the partnership with easyGroup, a key benefit of the Transaction to Lonrho is the substantial cash resources held by Rubicon (£8.8m as at 31 December 2011) which will be available for continued investment in the airline business following Completion.
Fastjet will focus on developing a true low cost airline for Africa based on the existing Lonrho Aviation platform which, in its existing operations as Fly540, had turnover of US$57 million and carried 525,375 passengers in the 15 months to 31st December 2011. Passenger loads continue to increase with Fly540 carrying 53,225 for the month of May 2012."