26 Aug 2015 07:00
fastjet Plc
("fastjet" or the "Company")
26th August 2015
fastjet Fleet Expansion
fastjet (AIM:FJET), Africa's low-cost airline has signed a Letter of Intent (LOI) for the purchase of an Airbus A319 aircraft (the Aircraft). The Aircraft is expected to be ready for operations by the end of September 2015 and is planned as the first aircraft for the fastjet Zambia fleet.
Ed Winter, fastjet Chief Executive Officer commented: "Following our recent announcement of the fourth and fifth aircraft joining our fleet, the addition of this owned Aircraft by the end of September will see the fleet double in size to six once each of these aircraft are operational.
"Each additional aircraft is able to make up to 1,000 more seats per day available to fastjet's customers. Based on the 75% load factors currently being projected by fastjet, each aircraft in the fleet is projected to carry approximately 275,000 passengers per annum.
"Our successful fundraising in April 2015 was, in part, to fund the acquisition of aircraft. We conducted an extensive review of available aircraft and I am delighted to announce this milestone event."
For more information, contact:
UK media - Citigate Dewe Rogerson | Tel: +44 (0) 20 7638 9571 |
Angharad Couch | |
Toby Moore | |
Nick Hayns | |
South African media - Tribeca Public Relations | Tel: +27 (0) 11 208 5500 |
Cian Mac Eochaidh | |
Kelly Webster | |
For investor enquiries please contact: | |
W.H. Ireland Ltd.- Nominated Adviser and Joint Broker | Tel: +44 (0) 20 7220 1666 |
James Joyce | |
Mark Leonard | |
Liberum Capital Limited - Joint Broker | Tel: +44 (0) 20 3100 2222 |
Clayton Bush | |
Christopher Britton |
NOTES TO EDITORS
About fastjet Plc
fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. The airline introduced Airbus A319s into its fleet. 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 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 Fly540 Angola where operations are currently suspended.
The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.
fastjet Plc is quoted on the London Stock Exchange's AIM market.
For more information see www.fastjet.com