FJET.L Regulatory News (FJET)

27 August 2014

 Application for Kenya Air Service Licence

fastjet, Africa's low cost airline, has incorporated a company in Kenya (fastjet Kenya) as part of its goal to launch a Kenyan base. Further, fastjet Kenya has submitted its Air Service Licence (ASL) application to the Kenyan Civil Aviation Authority (KCAA).

To comply with local airline ownership rules in Kenya, 51% of the equity of fastjet Kenya is owned by a Kenyan national. The balance of 49% is ultimately held by fastjet plc.

The ASL application process requires all airlines to formally submit a detailed business plan incorporating its proposed operation, network, aircraft specification, operational plan and commercial strategy.

The ASL is a significant step toward obtaining a full Air Operating Certificate which will allow the commencement of operations domestically within and internationally from Kenya.

The KCAA has indicated that the application, along with all other applications, will be gazetted in Kenya on Friday 29 August 2014. The public hearing will be held 21 days after publication, following which a decision will be rendered by the authority.

"This is an important step for fastjet" said Ed Winter, Chief Executive Officer of fastjet. "We have submitted a comprehensive application to the authorities who have confirmed that fastjet Kenya has entered the approval process.

We look forward to bringing the fastjet operation to Kenya, offering our market stimulating fares, our excellent on time performance and friendly service. We are excited at the prospect of extending the footprint of the fastjet operation through greater penetration of the African market with a Kenyan-based airline. This is in addition to the application for fastjet Tanzania to operate services into Kenya from Tanzania. The process for designation of fastjet Tanzania is ongoing."

Fastjet also wishes to comment on the recent outbreak of Ebola in West Africa on which it has received a number of enquiries. Whilst the senior management of fastjet is monitoring the outbreak, it can confirm that there have been no reported cases in any of the fastjet destinations.

Monrovia, the capital city of Liberia which is the nearest country effected by the outbreak, is 8,150 km from Dar es Salaam (compared to 7,150km from Monrovia to London). Additionally, there are currently no direct flights between West Africa and Tanzania. The fastjet business has not been affected by the epidemic. fastjet extends its condolences to all those affected by Ebola.

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NOTES TO EDITORS

About fastjet plc

fastjet plc is the holding company of the low-cost airline fastjet which commenced flight operations in Tanzania in November 2012. The airline operates a fleet of distinctively branded Airbus A319s and since its launch has grown to encompass the key domestic routes within Tanzania and a rapidly increasing number of international destinations. 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 carrier model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline. fastjet plc is also the holding company of airline Fly540, which operates in Kenya, Ghana and Angola.

By offering one way fares from as low as $20, fastjet has stimulated a new customer base; the results of a customer survey showed that 38% of fastjet passengers had never flown before. This democratisation of air travel is expected to gather momentum across the final continent to experience the low-cost airline revolution.

fastjet is committed to communicating effectively with its existing and potential customers and has, to date, won a number of marketing awards. With over 140,000 social media followers, it occupies a unique position in African aviation.

fastjet plc is quoted on the London Stock Exchange's AIM market.

For more information see www.fastjet.com