Fastjet posts rise in September passenger numbers
16th Oct 2013 12:57
Airline Fastjet reported a 'significant' year-on-year percentage increase in its September passenger numbers on Wednesday. The number of passengers rose 61% from 50,543 in September 2012 to 81,291 in September 2013, although it suffered a small decrease in numbers in Tanzania, down 2% from 33,079 t
Read moreShares in Fastjet nosedive as major shareholder cuts stake
11th Oct 2013 12:43
Shares in Fastjet were sharply lower after its biggest shareholder Lonrho cut its stake. The conglomerate sold 10.8m shares in the low-cost African airline. It still holds 105.2m shares representing 26% of the company. Shares in Fastjet were down 14.2% at 4.52p at 12:48 on Friday. TB
Read moreFastjet nets 1.25m pound funding
7th Oct 2013 12:25
African budget airline Fastjet has bolstered its finances by raising 1.25 million pounds through a deal with part of Henderson Global Investors Volantis Capital. It raised the cash by issuing 20,833,333 1 pence shares to majority-owned Henderson subsidiary Darwin Strategic at 6p per share. Fastjet
Read moreFastjet half-year losses widen
30th Sep 2013 08:45
African low-cost airline Fastjet booked a wider interim loss after start-up losses associated with launching Fastjet Tanzania, but said it is confident in the potential of its long-term strategy. The London-listed group reported an operating loss before exceptionals of US$24.9m, including $13.3m of
Read moreAugust passenger numbers rise at fastjet
11th Sep 2013 08:33
Africa budget carrier fastjet saw passenger numbers rise by nearly a third during the month of August as it started ticket sales for its Tanzanian domestic route and its first international route from Dar es Salaam to Johannesburg. Combined, the fastjet and fly540 operations carried a total of 78,5
Read morefastjet signs deal with BidAir
3rd Sep 2013 13:12
Africa low-cost airline fastjet has signed an agreement with BidAir to carry cargo on its fleet of Airbus 319s. fastjet said it expects the deal with one of Africa's largest cargo operators to provide an additional stream of revenue without compromising its core business. The deal comes after a
Read morefastjet increases passenger revenue
2nd Sep 2013 10:55
Africa budget carrier fastjet's passenger revenue in August grew five per cent to 2.7m dollars compared to the previous month. The company said the month-on-month increase was driven by strong performance in passenger volumes with an 84% load factor and a record 33,000 passengers in the month. Anc
Read moreFastJet clears last administrative hurdle in plans for Tanzania to South Africa route
4th Jul 2013 14:41
FastJet, the African budget airline backed by easyJet founder Stelios Haji-Ioannou, said it had received its foreign operator permit from the South African Department of Transport. The company was granted permission last month to launch international flights from Tanzania to South Africa, Zambia a
Read moreLondon midday: Stocks slip after EU jobs data
14th Jun 2013 11:47
The upbeat tone seen from markets in early trading on Friday morning didn't last for long, with the FTSE 100 slipping into the red by midday after some gloomy data from Europe. Strong gains on Wall Street last night prompted a decent start in London this morning on expectations that the Federal Res
Read moreLondon open: FTSE 100 tracks US and Asian markets higher early on
14th Jun 2013 08:46
Stocks were registering moderate gains on Friday morning as fears over the Federal Reserve's eventual 'exit strategy' from stimulus were eased overnight. Wall Street benchmarks rose strongly on Thursday on expectations that Fed Chairman Ben Bernanke will attempt to calm markets by pushing back pred
Read moreFastjet to launch first-ever international flights
14th Jun 2013 07:28
Africa-focused budget airline Fastjet has won the right to fly its first-ever international routes across the continent. The company, which is backed by easyJet founder Stelios Haji-Ioannou, has been given government permission to begin flying from Tanzania to South Africa, Zambia and Rwanda. This
Read moreFastjet Chairman tops up stake after strong performance in May
6th Jun 2013 16:33
Fastjet revealed that its Chairman David Lenigas had purchased a million shares in the African budget airline on Thursday, the same day the company reported its best month of trading to date. Lenigas, who is also the Chairman at Leni Gas & Oil and Solo Oil, bought the holding at a price of 0.986p,
Read morefastjet signs agreement to enter South Africa
24th Apr 2013 10:05
Africa's low-cost airline fastjet has signed an agreement with South African investment company Blockbuster to operate services in the country. The venture is aiming to begin flights by the end of May with the first route from Johannesburg to Cape Town. Blockbuster has struck a commercial deal wi
Read morefastjet and Five Forty Aviation agree to end legal dispute
23rd Apr 2013 08:39
fastjet and Five Forty Aviation Chief Executive Officer (CEO) Don Smith have put an end to a legal dispute over payment and licensing agreements in Africa. The two have entered into a memorandum of understanding (MoU) to reach "mutually beneficial and constructive resolutions", fastjet said in a st
Read morefastjet sees load factor slip in March
16th Apr 2013 10:41
Africa's low-cost airline fastjet on Tuesday reported a 68 per cent load factor last month on its Tanzanian operation, well below the 81 per cent rate registered in February. However March's 68% load factor, which is the number of passengers as a percentage of the number of available seats, came de
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