fastjet Passenger Statistics for October 2013

RNS Number : 2261T

Fastjet PLC

18 November 2013

 



fastjet plc

("fastjet" or the "Company")

18^th November 2013

fastjet Passenger Statistics for October 2013

fastjet Plc is pleased to announce its passenger statistics for the month of October 2013.  fastjet operations in Tanzania carried a record total of 33,778 passengers achieving an average load factor of 70 per cent, despite a 14 per cent increase in capacity. 

Ancillary revenue (from baggage, ticket changes and in-flight retail) accounted for over 10 per cent of total revenues (up from 7 per cent in June) and continues to grow rapidly. Following the recent introduction of fastjet's first international route linking Dar es Salaam and Johannesburg, cargo revenues are also expected to grow significantly.

Punctuality remained excellent with 94 per cent of flights operating on time ^{Note 5}.

Ed Winter, interim Chairman and Chief Executive Officer of fastjet, said:  "We are very pleased to have achieved an average load factor of 70 per cent across the network in October, a traditionally weak month, and the month we launched flights to Johannesburg from Dar es Salaam.

"The growth in ancillary revenues is also encouraging. Ancillary Services represent an important part of the low-cost model and it is great to see this revenue stream now representing 10 per cent of total passenger revenue.  Our in-flight retail contract is performing very well and work is currently underway to offer a wider selection of services such as accommodation, car hire and insurance which will support this revenue growth.  Cargo capacity is now also being sold on the popular Dar es Salaam to Johannesburg route, complementing our existing domestic cargo capacity."

"We recently announced an increase in domestic flying in Tanzania to meet increased demand from our customers and we expect to announce our next international route shortly."

"As we approach the first anniversary of our inaugural flight, I am delighted with the progress we have made in the past 12 months and the direction the Company is moving in.   We announced last week that Lonrho had sold its remaining stake in fastjet.  This is a logical and mutually beneficial parting of ways.  Lonrho has not been involved in the business since it was bought and delisted in July 2013 at which time it decided to concentrate resources on its core operations.  As previously announced, fastjet is working towards restructuring the legacy businesses it inherited from Lonrho.

"We have grown the business substantially in the face of many challenges since last November.  Our existing cash resources and equity draw down facility provides  us with sufficient working capital for our near term requirements as we continue to seek to address our longer term funding requirements for further expansion next year.  Our aim to become Africa's first low-cost carrier is well on its way to becoming a reality."
                                               

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All Operations ^{Note 1}

Month ending                                              Oct 2013                   Oct 2012                           Change

Passengers ^{Note 2}                                            84,252                       51,619                                63.2%

Rolling 12 months ending                        Oct 2013                   Oct 2012                            Change

Passengers ^{Note 2}                                           967,448                      639,249                              51.3%

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fastjet Operations ^{Note 4}

Month ending                                              Oct 2013                          Oct 2012                          Change

Passengers ^{Note 2}                                          33,778                                0                                         N/A

Load Factor ^{Note 3}                                          70%                                     0                                        N/A

Rolling 12 months ending                       Oct 2013                          Oct 2012                            Change

Passengers ^{Note 2}                                            326,253                            0                                          N/A

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Notes:

1.    "All Operations" includes statistics for fastjet Tanzania, Fly540 Kenya, Fly 540 Ghana and Fly540 Angola.

2.    "Passengers" for 540 operationsare flown passengers and for fastjet operations are sold seats flown, in both cases excluding infants.  Fastjet bookings are generally non refundable whereas 540 bookings are in some circumstances refundable.

3.    "Load Factor" is the number of 'passengers" as a percentage of the number of available seats flown. 

4.    "fastjet Operations" includes only statistics for Fastjet Tanzania operations which commenced on 29^th November 2012

5.    "on time" - arrival earlier than or within 15 minutes of schedule.

For media enquiries please contact:

UK media - Citigate Dewe Rogerson                                                       Tel: [phone]

Eleni Menikou

Toby Moore      

South African media - Tribeca Public Relations                                 Tel: [phone]

Cian Mac Eochaidh

Kelly Webster

For investor enquiries please contact:

W.H. Ireland Ltd.                                                                                             Tel: [phone]

James Joyce

Nick Field

NOTES TO EDITORS

About fastjet plc

fastjet plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. The airline introduced Airbus A319s into its fleet. And by adhering to international standards of safety, quality, security and reliability; fastjet has brought a new flying experience to the African market at unprecedented low prices. fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline. fastjet plc is also the holding company of Fly540, which operates in Kenya, Ghana and Angola.

The results of a recent customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend.  In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet and the award for "Brand Strategy of the Year" at the recent Drum Marketing Awards in London.

fastjet plc is quoted on the London Stock Exchange's AIM market.

For more information see www.fastjet.com 

 

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