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Fastjet PLC (FJET)

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Thursday 06 June, 2013

Fastjet PLC

Operational Update

RNS Number : 4154G
Fastjet PLC
06 June 2013
 



  

fastjet plc

("fastjet" or the "Company")

Operational Update

 

fastjet, Africa's low cost airline, ahead of the release of its monthly passenger statistics is pleased  to report its best month of trading to date across the entire Group. 

 

Tanzania

Passenger sales records for the fastjet operation were comfortably beaten in May.  Revenues, in excess of US$1.8m for the month, were up approximately 50 per cent compared with the start of the year. Revenue per passenger has increased by 62 per cent since the beginning of 2013 and load factor* rose 11 per cent in May compared to April. This performance is expected to continue into June.

 

These encouraging figures show that the Tanzanian public has fully embraced the low cost airline model and fastjet has successfully stimulated a new market in Tanzania.  Six months since launch, fastjet is regularly flying profitably (more than covering direct operating costs). in Tanzania, and is expecting to commence flights on international routes from Dar es Salaam shortly.

 

Ghana

The Fly540 operation in Ghana has also made significant progress in terms of passenger loads and revenues. The number of passengers booked to travel in May saw an 11 per cent increase against the previous month and the operation has also seen a 52 per cent increase in passenger numbers compared with May 2012, a 25 per cent increase in revenue, and an exemplary operational record of reliability.

 

We are also seeing a significant change in consumer behaviour with a 398 per cent increase in web based sales so far in 2013 versus the whole of 2012.

 

Angola

Traditionally a more challenging place to operate in, fastjet's Angolan business has achieved its highest passenger sales figure since the start of operations in January 2011 with a 63 per cent increase in passenger numbers in the last five months, and a corresponding revenue increase of 66.5% per cent between January and May.  Month on month passenger growth between April and May was 38%.

 

fastjet is training more Angolan pilots than ever and is looking to increase the scale of its operation there as soon as practical.

 

Ed Winter, Chief Executive Officer of fastjet said:  "May has been an excellent month for the Group. The Tanzanian operation has seen a real growth in passenger sales revenues. This suggests that we have captured the hearts and minds of the Tanzanian public and I am delighted that we are now firmly the "airline of choice" on all of the routes we currently operate."

 

"Our continued growth in both Angola and Ghana is enormously pleasing. Simply put, we are carrying more passengers, enjoying increased yields and an ever improving level of dispatch reliability in each of these operations.

 

"Since the start of the year, we have grown the business substantially in the face of challenges. Our prospects in each of our operations look very positive and our aim to become Africa's first low cost carrier is well on its way to becoming a reality."

 

 

*the average percentage of seats sold on each operating aircraft

 

For media enquiries please contact:

UK media - Citigate Dewe Rogerson                                                        Tel: +44 (0) 20 7638 9571

 

Angharad Couch

Eleni Menikou

                               

For investor enquiries please contact:

W.H. Ireland Ltd.                                                                                              Tel: +44 (0) 20 7220 1666

James Joyce

Nick Field

 

NOTES TO EDITORS

About fastjet plc

 

fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand commenced in Tanzania in November 2012. The airline has 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.


This information is provided by RNS
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