24 Mar 2016 07:00
fastjet Plc("fastjet" or the "Company")
24 March 2016
Further response to latest easyGroup letter
The Company announced yesterday that easyGroup Holdings Ltd ("easyGroup") had made public a letter dated 22 March 2016 which it had sent to fastjet relating to the Brand Licence Agreement in place with the Company.
The Company is making this further announcement to outline the substance of the easyGroup letter including their deadline for a response.
The letter alleges that there have been a number of breaches of the Brand Licence Agreement and requests a response from the Company answering the points raised in their letter by 12 noon on 31 March 2016. The Company notes that if its answers are not provided by that time easyGroup has indicated that they intend to issue a notice to terminate the Brand Licence and may seek injunctive relief if that termination notice is not complied with.
The Board is currently reviewing the letter with its legal advisers and intends to provide a formal response to easyGroup in due course. The Company will confirm to the market once this has occurred.
Further announcements will be made as appropriate.
ENDS
For more information, contact:
fastjet Plc | Tel: +44 (0) 20 3651 6307 |
Colin Child, Executive Chairman | |
Lisa Mitchell, Chief Financial Officer | |
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UK media - Citigate Dewe Rogerson | Tel: +44 (0) 20 7638 9571 |
Angharad Couch | |
Eleni Menikou | |
Nick Hayns | |
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South African media - Tribeca Public Relations | Tel: +27 (0) 11 208 5500 |
Cian Mac Eochaidh | |
Kelly Webster | |
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For investor enquiries please contact: |
Liberum Capital Limited - Nominated Adviser and Joint Broker | Tel: +44 (0) 20 3100 2222 |
Clayton Bush | |
Christopher Britton | |
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W.H. Ireland Ltd.- Joint Broker | Tel: +44 (0) 20 7220 1666 |
James Joyce | |
Mark Leonard | |
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. fastjet Zimbabwe was successfully launched in October 2015. 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. Utilising its fleet of Airbus A319s, 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.
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