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Following its migration to its new reservation platform, Fastjet has concluded a refreshed interline agreement with Emirates. The agreement will see Fastjet�s inventory available, in conjunction with Emirates inventory, through the Global Distribution System(s) Amadeus and Travelport and is expected to stimulate onward connecting traffic throughout Fastjet's network in East and Southern Africa. Both airlines share common markets in Tanzania, Zimbabwe, South Africa and Zambia. Fastjet, Emirates interline agreement to stimulate future traffic connections Interline agreements enable travel for passengers who require flights with more than one airline to complete their full journey. "The agreement is historic for Fastjet. Fastjet has become the first African low-fare airline to engage with major global airline brands," says chief executive Nico Bezuidenhout. Bezuidenhout adds that beyond the expected growth in connecting inbound traffic volumes, the enablement of trade and tourism will be significant: "Fastjet connects international hubs with major urban centres in our markets; in Tanzania, for example, travellers would be able to seamlessly connect between Dar es Salaam and Mwanza, Kilimanjaro and Mbeya all of which support various industry and tourism nodes."
Wouldn�t you think such news was just about big enough to push the share price up a tad? I suppose even if it was, the market-makers need the `pudding` to supply the `proof` they inevitably demand. And understandably so. In the meantime, I look forward to such proof being provided by the `growth in connecting...traffic volumes` expected by Nico and perhaps even hearing of it from the horse�s mouth himself at the upcoming AGM.
“upcoming AGM” - last year it was on 30th June. I couldn’t find a date for this year. Looks like Nico is witholding financial information from shareholders as long as possible so I expected the AGM to have been delayed until after 2017 results are published. Do you have a date for this tear’s AGM?
No, B787. Had I known, I would have gladly revealed it. But on the basis that the AGM has been held in late June in the last three years, I considered that to be �upcoming�!
The last RNS provided some financial info certainly the cash situation was not good With cash locked up i Zimbabwie
Buxton1, very true, there was an update with limited financial information, and was bad regarding cash being locked up. There is no excuse for getting into this position, what has their strategy been regarding cash in Zimbabwe. How did they get themselves into this position? Was it just plain ignorance or was there some change in financial regulations in Zimbabwe since they started? For me, what I’m most interested in financially is Cost Per ASK. Nico has staked his reputation at fastjet, to a great extent, on reducing this. His fleet change was at huge expense in order to reduce costs. I, for one, will be judging his performance mainly on his ability to have significantly reduced this.