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Politics and precipitation impede Fastjet loads

Tue, 08th Dec 2015 07:39

(ShareCast News) - Political turmoil and foul weather hampered passenger loads for Fastjet in November, it announced on Tuesday.The AIM-listed African easyGroup affiliate carried a total of 62,843 passengers during the month, with a load factor of 60% - down 3% on October.Fastjet blamed this on the prolonged Tanzanian presidential election process. The country remained without a cabinet or a budget, which the airline said resulted in muted demand from government and civil service.On-time performance in Tanzania was also hampered by severe weather, with 84% of flights running within 15 minutes of schedule, while 100% of flights ran within 15 minutes for the Zimbabwean operation in its first month in the air."Whilst we remain mindful of the temporary reduction in demand in Tanzania, we expect that this will improve in the New Year when the political environment stabilises", chief executive officer Ed Winter said."We are delighted that Fastjet Zimbabwe has been well received in its first month of operation. Passenger feedback has been positive and we look forward to expanding that network."In the announcement, Fastjet also confirmed a new route between Dar es Salaam, Johannesburg and Zanzibar would launch in January 2016.
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18 Mar 2016 15:59

UPDATE: FastJet Takes Legal Advice Over Letter Published By EasyGroup

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18 Mar 2016 15:44

Fastjet director resigns amid row with easyGroup

(ShareCast News) - Fastjet's public spat with easyGroup led to the resignation of a board member late on Friday afternoon. After 1500 GMT, the Africa-based low cost airline announced Tim Ingram, easyGroup's representative on the board, had resigned with immediate effect. "The board has regrettably

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18 Mar 2016 12:09

LONDON MARKET MIDDAY: Berkeley Falls As Oil Price Rise Drives Gains

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18 Mar 2016 10:43

WINNERS & LOSERS SUMMARY: fastjet Dives On Public Spat With easyGroup

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18 Mar 2016 08:39

Fastjet shares crash as it hits back at EasyGroup

(ShareCast News) - Tanzania-based budget airline Fastjet on Friday criticised easyGroup for going public with a letter relating to the two companies' contractual relationships and said it was seeking legal advice. Fastjet said that while it welcomes constructive engagement with all shareholders, it

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18 Mar 2016 08:10

FastJet Takes Legal Advice On Publication Of Letter By EasyGroup

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14 Mar 2016 16:34

Fastjet CEO To Resign; Chairman To Act In Executive Capacity

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8 Mar 2016 10:49

Liberum downgrades Fastjet on short-term challenges

(ShareCast News) - Liberum downgraded African budget airline Fastjet to 'hold' from 'buy' and slashed the price target to 45p from 90p following a "disappointing" trading update, which has led the brokerage to cut its 2016 and 2017 forecasts. Liberum now expects a $20m loss in 2016, compared with a

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8 Mar 2016 09:38

BROKER RATINGS SUMMARY: Nomura Upgrades Admiral To Buy From Neutral

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7 Mar 2016 10:40

WINNERS & LOSERS SUMMARY: Break Up Speculation Lifts Old Mutual

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7 Mar 2016 08:43

Fastjet shares plunge after stark profit warning

(ShareCast News) - Fastjet's share price plunged early on Monday, after the Africa-focused airline issued a stark warning over its long-term viability as challenging market conditions in the continent continued. The AIM-traded low-cost carrier, affiliated with the easyGroup through a major sharehold

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7 Mar 2016 08:41

LONDON MARKET OPEN: Old Mutual Shares Up As It Explores "All Options"

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7 Mar 2016 07:49

Fastjet Issues Profit Warning And May Need To Raise Funds (ALLISS)

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29 Feb 2016 17:01

Fastjet Shareholder EasyGroup Proposes Removal Of CEO Ed Winter

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19 Jan 2016 07:49

Fastjet Appoints Former Ophir Energy Executive Lisa Mitchell As CFO

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