FastJet Expands Fleet; Strengthens Management Team

RNS Number : 0558P

Fastjet PLC

19 October 2012

 



19th October 2012

FastJet Plc

("FastJet" or the "Company")

FastJet Expands Fleet; Further Strengthens Management Team

FastJet Plc, Africa's first pan African low cost airline, announces today it has expanded its aircraft fleet, signed a maintenance contract with a leading aircraft maintenance company and further strengthened its management team ahead of the airline's planned launch next month.

FastJet has signed operating lease agreements with Volito Aviation for two Airbus A319s and will take delivery of the aircraft in November. These are the second and third Airbus A319s the Company has leased and it remains on track to meet its target of deploying five Airbus A319s in Africa within six months of launch and up to 15 aircraft in a years' time.

The airline has also appointed three senior aviation executives to the Company's management team. Taking up their roles today, Rob Bishton, Kyle Haywood and Harun Cordan will combine their wealth of industry experience with that of the existing FastJet team.

Commenting on the aircraft leases and recent management hires, FastJet Chief Executive Ed Winter said:

"Signing two further aircraft to our fleet and securing delivery in November puts us firmly on track to launch FastJet next month at our first base in Dar es Salaam in Tanzania. I am also delighted to be welcoming three top aviation executives to the FastJet team. Between them they bring over 50 years of operational experience from across the sector and they are important strategic hires for us ahead of launch and our inaugural flight in just a few weeks."

Rob Bishton joins FastJet as Operations Director, based at the airline's headquarters in Gatwick, London.  Rob previously worked for easyJet where he spent two years as Chief Pilot and Head of Aircraft Operations.  Prior to joining easyJet, Rob was Director of Flight Operations at Astraeus Ltd.

Kyle Haywood, former Chief Executive of Air Uganda, joins FastJet as General Manager of Africa.  Having worked in the airline industry for over 25 years, Kyle has previously held senior positions at Air Arabia, Gulf Air and British Airways.

Former Ryanair executive Harun Cordan assumes the role of Group Chief Pilot and Head of Flight Operations. Prior to joining FastJet, Harun held a number of positions at the Irish low cost carrier, including Chief Instructor and Deputy Head of Training.

FastJet also announces that it has entered into an exclusive service contract with Swissport International Ltd under which Swissport will provide ground handling and related management services to FastJet across its operations.  Swissport provides ground services at 195 airports in 38 countries on five continents, and was named Global Aviation Ground Services company 2012.

Following a competitive tender process, FastJet has also awarded a five year contract to Sabena technics to provide maintenance support for the airline's fleet of Airbus A319s.

Sabena technics, a leading independent provider of aircraft maintenance services, will provide FastJet with engineering services and comprehensive material support for components and consumables. It will also establish local operations at FastJet's first base in Dar es Salaam, to provide line and light maintenance services.

Commenting on the decision to award FastJet's aircraft maintenance services contract to Sabena technics, Ed Winter said:

"We are delighted to welcome Sabena technics on board at this exciting time in FastJet's development.  We are now closer than ever to our goal of bringing a high-quality, reliable, affordable service to the people of Africa and today's agreement with a leading European Maintenance Repair Overhaul (MRO) company reaffirms our commitment to establishing FastJet as an airline operating to international standards."

Rodolphe Marchais, Chairman & CEO of Sabena technics added:

"We are very proud that FastJet has selected us to assist it in the launch and development of its operations, Sabena technics' experience and know-how in full support solutions means that FastJet can depend on us to deliver a reliable service from the start. We look forward to supporting FastJet's future expansion into other African countries and thereby grow our maintenance service portfolio with other customers in the region."

ENDS

For further information please contact:

FastJet Plc                                                                             Tel: [phone]

Ed Winter

Richard Blakesley

Citigate Dewe Rogerson                                                     Tel: [phone]

Angharad Couch

Sally Marshak

Eleni Menikou

W.H. Ireland Ltd.                                                                  Tel: [phone]

James Joyce

Nick Field

Sabena technics

Aurore Havenne                                                                   Tel: [phone]

[e-mail]

NOTES TO EDITORS

About FastJet Plc

FastJet Plc is the holding company for African airline Fly540, which operates from four bases in Kenya, Tanzania, Ghana and Angola.  Fly540 currently has 10 aircraft serving around 25 domestic and regional destinations, carrying approximately 750,000 passengers per year with a strong emphasis on safety, security and reliability.

Following a consultancy assignment by easyJet founder Sir Stelios Haji-Ioannou's easyGroup focused on determining the feasibility of launching a European-style low-cost carrier in Africa, we are now preparing for the launch of FastJet, Africa's first low-cost carrier, flying a modern fleet of jet aircraft based on the Fly540 platform of licences and routes. First flights under the FastJet brand are expected to take place in November, bringing an entirely new flying experience to the African market.

FastJet Plc is quoted on the AIM market of the London Stock Exchange.

For more information click on www.fastjet.com

About Sabena technics

Founded in 1968, Sabena technics is a leading independent MRO (maintenance, repair & overhaul) provider of maintenance services to civil and military aircraft operators. The group operates under the brands Sabena technics, Sabena technics training, Barfield and equally benefits from a joint venture specialized in hydraulic repair named Hydrep. The Group employs over 3,000 persons across its 17 sites worldwide.

For more information click on  www.sabenatechnics.com

Significant African Aviation Market Potential

Africa is a growth aviation market with regional and intercontinental traffic both growing rapidly as a result of the continent's continued economic expansion.  With over one billion people, Africa is hampered by poor infrastructure, a lack of roads and railways and long distances between urban populations.  The African aviation market is significantly underserved with air travel spending as a percentage of GDP a fraction of that of other emerging markets.  With rapid economic growth and, as a result, the growing wealth of African citizens, more and more people will be able to benefit from aviation and fly for the first time. Airbus forecasts total passenger traffic in Africa will grow at an average yearly rate of 5.7% between 2010 and 2030, well above the 4.8 per cent world average growth rate and expects to deliver more than 1,100 new passenger aircraft, 4% of world deliveries, in the next 20 years to satisfy growing demand. Seven of the top 10 fastest growing global economies are now in Africa with consumer spending for the continent forecast to reach US$1.6 trillion by 2020.  A recent McKinsey report (June 2010) forecast that 128 million households in Africa are expected to have discretionary income to spend by 2020, while 50% of Africans are expected to live in cities by the same date with urban jobs bringing rising incomes. The McKinsey report concluded that today the rate of return on foreign investment in Africa is higher than in any other developing region and that early entry into African economies provides opportunities to create markets, establish brands, shape industry structure, influence consumer preferences and establish long-term relationships.

The Low-Cost Airline Model

The low-cost airline model seeks to attract large numbers of additional passengers by offering significantly lower fares.  The fares need to be low enough to persuade people who did not previously travel by air to do so, and others to travel more often.  The global experience of launching a low-cost carrier is that it creates a completely new market rather than simply driving down prices in the existing market.

 

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