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Wed, 23rd Dec 2015 08:25
(ShareCast News) - Low cost African airline fastjet said its Tanzanian operation had been given clearance by the Kenyan government to operate flights between Kenya and Tanzania.Fastjet said two new routes, Dar es Salaam to Nairobi, and Kilimanjaro to Nairobi were on sale from Wednesday.From 11 January 2016, fastjet Tanzania will operate a daily flight between Dar es Salaam and Nairobi and between Kilimanjaro and Nairobi. Flights between Zanzibar and Nairobi and Dar es Salaam and Mombasa are also expected to be added to the network later in 2016.One way fares will start from $50 - $80 on the two new routes.Fastjet chief executive Ed Winter said passenger traffic between the major cities of Dar es Salaam and Nairobi, which have a combined population of over 8m people, had been limited by high air fares."The only alternative to flying is to undertake a long and difficult journey by road, which can take up to 12 hours," he said."Nairobi and Dar es Salaam are not only key travel destinations, and two of the busiest* airports in the region, but also hubs with extensive regional and international networks. Expanding the network into Kenya marks an important milestone in fastjet's strategic development and is a significant achievement for the Company, its staff and shareholders."
More News
25 Nov 2016 09:02
Fastjet shares dive after chairman resigns
(ShareCast News) - Africa's low-cost airline Fastjet tanked in early markets after its chairman resigned due to the company requiring further capital. Chairman and Director of the company Colin Child stepped down as he felt it would be inappropriate to stay on after the company decided to initiate a
Read more3 Oct 2016 16:55
Fastjet sells Airbus A319 to Avtrade
(ShareCast News) - Fastjet, an African based low-cost airline, has entered into a binding sale agreement of its solely-owned Airbus A319 with Avtrade. The consideration is to be paid $8m in cash with a 10% deposit payable on signature of the agreement and the balance on delivery. Included in the ag
Read more21 Sep 2016 11:03
Wednesday newspaper share tips: Fastjet, Pennon Group
(ShareCast News) - Fastjet has set itself from apart from its peers in Africa looking to leapfrog bottlenecks in the country's infrastructure by various means, the Financial Times said. Whereas many idealistic businesses tended to get mugged by the harsh realities of the Continent, Fastjet's travail
Read more20 Sep 2016 09:54
Fastjet's losses widen as it plans to cut costs and relocate
(ShareCast News) - Africa-based budget airline Fastjet's shares plummeted 17% on Tuesday morning as the company reported its losses widened in the first half. For the six months ended 30 June, operating losses from continuing activities rose to $31m from $12.8m the same period last year. The loss fr
Read more21 Jul 2016 13:51
Fastjet to raise £19.2m to fund new business plans
(ShareCast News) - Tanzania-based budget airline Fastjet announced a placing and open offer to raise £19.2m and said it plans to be in a cash-flow break-even position by the end of next year. The issue price of 50p represents a significant premium of around 116% to the closing price of the shares on
Read more28 Jun 2016 08:45
Fastjet to raise more funds amid challenging markets
(ShareCast News) - Tanzania-based budget airline Fastjet said on Tuesday that it needs to raise further finance to provide essential working capital and effect the necessary changes to its operations as the trading environment remains challenging. The company said it has begun the initial phases of
Read more21 Jun 2016 15:04