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Fastjet carryings up ahead of first anniversary

African low fares carrier Fastjet saw improved carryings and load factors last month as it approaches its first anniversary.

The figures came following Lonrho selling its remaining stake in the Tanzania-based airline last week.

Operations in Tanzania carried a record 33,778 passengers with an average load factor of 70%, despite a 14% increase in capacity.

Ancillary revenue from baggage, ticket changes and in-flight retail accounted for more than 10% of total revenues, up from 7% in June.

The airline, which started its first international service from Dar es Salaam to Johannesburg last month, saw 94% of all flights operating on time. Another international route is soon to be announced.

Interim chairman and chief executive Ed Winter said: “Ancillary services represent an important part of the low-cost model and it is great to see this revenue stream now representing 10% of total passenger revenue.

“Our in-flight retail contract is performing very well and work is currently underway to offer a wider selection of services such as accommodation, car hire and insurance which will support this revenue growth.

“We recently announced an increase in domestic flying in Tanzania to meet increased demand from our customers and we expect to announce our next international route shortly.”

He added: “As we approach the first anniversary of our inaugural flight, I am delighted with the progress we have made in the past 12 months and the direction the company is moving in.

“We announced last week that Lonrho had sold its remaining stake in Fastjet. This is a logical and mutually beneficial parting of ways. Lonrho has not been involved in the business since it was bought and delisted in July 2013 at which time it decided to concentrate resources on its core operations.

“As previously announced, Fastjet is working towards restructuring the legacy businesses it inherited from Lonrho.

“We have grown the business substantially in the face of many challenges since last November. Our existing cash resources and equity draw down facility provides us with sufficient working capital for our near term requirements as we continue to seek to address our longer term funding requirements for further expansion next year.

“Our aim to become Africa’s first low-cost carrier is well on its way to becoming a reality.”


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