Fastjet reports improved performance

Fastjet reports improved performance

African budget carrier Fastjet has reported its best month of trading in May following concerns about its ability to continue as a going concern.

KPMG reportedly said earlier that there was “significant doubt” that the airline backed by easyJet founder Sir Stelios Haji-Ioannou could continue to trade.

Ahead of the release of monthly passenger statistics, Fastjet said it achieved revenues of $1.8 million in Tanzania in May, up by about 50% on the start of the year, with revenue up by 62%.

“Six months since launch, Fastjet is regularly flying profitably (more than covering direct operating costs) in Tanzania, and is expecting to commence flights on international routes from Dar es Salaam shortly,” the airline said today.

Fastjet’s Fly540 arm in Ghana saw passengers up 11% in May while carryings in Angola were up by 63% in the first five months of the year.

Chief executive Ed Winter said: "May has been an excellent month for the group. The Tanzanian operation has seen a real growth in passenger sales revenues.

“This suggests that we have captured the hearts and minds of the Tanzanian public and I am delighted that we are now firmly the "airline of choice" on all of the routes we currently operate."

"Our continued growth in both Angola and Ghana is enormously pleasing. Simply put, we are carrying more passengers, enjoying increased yields and an ever improving level of dispatch reliability in each of these operations.”

He added: "Since the start of the year, we have grown the business substantially in the face of challenges. Our prospects in each of our operations look very positive and our aim to become Africa's first low cost carrier is well on its way to becoming a reality."


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