26 Apr 2013 07:00
fastjet plc
("fastjet" or the "Company")
26 April 2013
fastjet Update on South Africa Launch
Johannesburg, 26 April - fastjet, Africa's low-cost airline, today announces that its new South African investment partner has changed its name in South Africa from Blockbuster to fastjet Holdings (PTY) Limited.
Kyle Haywood, fastjet's Managing Director for Africa, will assume the role of CEO of the new South African operations with immediate effect. Kyle, a South African citizen, will head up the South African launch team and has over 25 years of global airline experience including service carriers, such as British Airways and Etihad Airways as well as holding a key commercial executive management role in the development of Air Arabia, the Middle East's first and most profitable low cost carrier. Prior to joining fastjet, he was CEO of Air Uganda.
fastjet Holdings, a Company headed up by South African businessmen Mr Edward Zuma and Mr Yusuf Kajee will own 75%, and London-based fastjet plc will own 25%.
The Company is now fully engaged with its partners and is working diligently to have the first tickets on sale within a few weeks. fastjet is targeting the 31 May to launch the initial Johannesburg to Cape Town route.
A commercial arrangement has been struck between fastjet Holdings and local operator Federal Air, which will allow fastjet to leverage Federal Air's existing licensing infrastructure and deliver its proven low-cost airline model to the South African public.
Commenting on the announcement, fastjet Chief Executive Ed Winter said:
"I am really pleased that we have Kyle overseeing this exciting project given his vast aviation experience. There is a strategic gap in the South African market for a pan-continental, high quality, low-cost airline and we look forward to bridging that gap and bringing fastjet to the South African public. This marks an exciting chapter in fastjet's history and an important step in its growth strategy."
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NOTES TO EDITORS
About fastjet plc
fastjet plc is the holding company for African airline Fly540, which operates in Tanzania, Kenya, Ghana and Angola. Flights under the fastjet brand commenced in Tanzania in November 2012. The airline has introduced Airbus A319s into its fleet and 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.
In the year to March 2013, fastjet and its subsidiaries carried almost 800,000 passengers, 50% more than a year previously and 99.2 per cent of its flights left on time with no cancellations. The results of a recent 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 and a nomination for the prestigious Drum "New Product or Service launch" award.
fastjet plc is quoted on the London Stock Exchange's AIM market.
For more information see www.fastjet.com
About Kyle Haywood
Kyle has over 25 years of global airline experience, including full service carriers, such as British Airways and Etihad Airways as well as holding a key commercial executive management role in the development of Air Arabia, the Middle East's first and most profitable low cost carrier, growing the carrier from 5 aircraft and 10 routes to over 17 aircraft and over 30 routes.
Kyle has held various country management roles globally with British Airways with area management roles across the UK, South Africa, Middle East, South America and mainland Europe. The roles have included key experience in the commercial, operations and cargo streams. Kyle moved to Etihad Airways to prepare the launch of Etihad in South Africa in 2005 before returning to the UAE as Commercial Director for Air Arabia for 3 years, contributing to Air Arabia's hugely successful IPO in May 2007. Staying in the Middle East, Kyle moved to Gulf Air in Bahrain as Chief Commercial Officer for 2 years and then returned back to Africa as CEO of Air Uganda based in Kampala before recently joining the fastjet management team.