What about a a small mention in the Goat racing times?
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News item apologies if seen before
FASTJET, a low-cost airline, is looking for partners to take up a majority interest in a proposed Kenyan subsidiary before it can start a no-frills operation in the country, putting it into direct competition with Kenya Airways’s Jambojet. Kenya aviation law requires carriers to be at least 51 per cent locally owned before they can be designated as Kenya Airlines allowing them to run domestic and international services. “We are currently exploring a number of options. We are working to ensure that FastJet Kenya complies with those requirements,” Fastjet commercial manager Jean Uku told The EastAfrican. Domestic ownership quotas have in the past proven dealbreakers for foreign firms seeking to enter the market because of difficulty in finding a perfect match in terms of capital and business philosophy. Mr Uku said that once the company is set up, FastJet Kenya willutilise the same commercial strategy and distribution platforms asFastjet Tanzania. Earlier in July, Fastjet sold its shareholding in Fly 540 Kenya, the loss-making investment it inherited as part of the acquisition from Lonrho Aviation, to its Kenyan partner Don Smith. Mr Uku said Fastjet made the decision after concluding that it would not be viable to convert Fly540 Kenya into a low-cost carrier. “We can now create FastJet Kenya after we cut ties with Fly540 Kenya; we expect to announce a launch date upon completion of regulatory and operational procedures,” he said. The disposal of Fly540 Kenya, he said, indemnified the former partners of legal and financial liabilities relating to the segregation of the businesses, leaving FastJet free to launch a rival service in Kenya. Kenya Airways launched its low cost JamboJet services in April under a system that allows early bookers to travel between local destinations for as little as Ksh3,000 ($35) one way, about a fifth of what they would pay for travel aboard premium carriers. Mr Uku said Fastjet would keep its costs low by adapting its operations to local payment and booking methods. Early bookers would be offered fares as low as $20 one way excluding taxes between Kenyan destinations. The company is planning to have any extra return flight on Sundays, between Dar es Salaam and Lusaka as of August 17, bringing the number of flights linking Tanzania to Zambia to four per week. Tanzania, Kenya, South Africa and Zambia have been identified as major growth opportunities for aviation investors. There are approximately 160 million people in the region with currently only 0.21 air seats per head of population per annum. By 2018, FastJet expects to operate 24 aircraft and carry six million passengers. This represents only a 13 per cent market share of estimated passengers in these markets. The company’s London Stock Exchange final results for the year ended December 31, 2013 showed revenue up 154 per cent from $21.1 million in 2012 to $53.4 million. More than half of
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