Fastjet set for new market entries

Fastjet A319-100

South Africa-based ACMI/charter specialist, Solenta Aviation Group, has increased its stake in fastjet plc ahead of the low-cost airline's push into the South African and Mozambican markets, reports ch-aviation.

fastjet has said that in order to support its growth initiatives, it had held an accelerated book build and a subscription which raised gross cash proceeds of not less than USD44 million. Aside from existing major shareholders such as easyGroup Holdings, support came from Solenta Aviation Group which increased its stake in the firm from 28% to 29.9%.

It is recalled that as part of the original buy-in deal between fastjet and Solenta announced this year, fastjet will be able to deploy Solenta aircraft on any one of Solenta's AOCs on the African continent under the fastjet brand in exchange for a cost contribution/revenue share, depending on use.

As such, fastjet has confirmed it will enter the Mozambican market through Solenta Aviation Mozambique (Maputo) which, as recently reported, was granted scheduled domestic passenger route authorities covering Maputo to each of Beira, Tete, Nampula, and Lichinga. Operations are expected to commence later this month.

In tandem to the Mozambican market, fastjet will also make its South African market debut under a branding agreement with Federal Air (7V, Durban Virginia).
"Its established network comprising 10 tourism and business destinations provides a viable South African market brand entry for fastjet and a platform from which to grow through adding more destinations within this country," fastjet said.

Entry into the Mozambican and South African markets will be undertaken by a trio of ATR72-600s - - which will be secured on ten-year contracts. The firm said it had signed a letter of intent with ACIA, a member of the ACIA Aero Capital group, for the aircraft which are due to be deployed over the next six months in South Africa, Tanzania, Mozambique, and possibly Zimbabwe.

"With the expansion into the new markets, these aircraft will assist fastjet in equipping itself with the appropriate aircraft capacity," it said. "The 70 seater ATR planes, which are turboprops, accommodate shorter runways and deliver better fuel efficiency and per seat passenger costs, on sub 1-hour route flights."

Source:http://www.africanaerospace.aero/fastjet-set-for-mozambican-and-south-african-market-entries.html

Comments

Post a Comment

Popular posts from this blog

THE COFFEE ENTREPRENEUR WHO TRANSFORMS LIVES IN UGANDA: ANDREW RUGASIRA.

Looking at the article below on CNN about Andrew Rugasira "the Coffee entrepreneur who transforms lives in Uganda", it inspired me to think and reflect on the possibility for Africans and many developed countries to not only produce raw materials but transformation to finished products for global consumption. African countries should work hand in glove, helping each other through an extensive business web or network. I believe Africa as a continent has come of age and the time is ripe when our politicians should focus on increasing responsibility and eradicate preoccupations like corruption. (CNN) -- Tired of seeing developed nations take the lion's share of profits from his countrymen's coffee crop, Ugandan businessman Andrew Rugasira decided back in 2003 that it was time for a new business arrangement. Uganda is Africa's second-biggest exporter of coffee beans, currently producing around 3.4 million bags per year . Yet instead of being refined loc...
muxajax@blogger.com

hp - SPECTRE

Image
With no reference to the 007 sequel, I bring to you the the HP - SPECTRE. The latest release from HP sets the record straight as the world s thinnest laptop coming at 10.4mm, weighing just 2.45lbs  and a screen size of 13.3". The Specter ships in 2 product options below Price: $1,169.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i5 processor 8 GB memory; 256 GB SSD storage 13.3" FHD display Intel® HD Graphics 520 Price: $1,249.99 HP Spectre Laptop (13.3") Windows 10 Home 64 6th Generation Intel Core i7 processor 8 GB memory; 256 GB SSD storage 13.3" FHD IPS UWVA display Intel® HD Graphics 520   (up to 4.09 GB) According to HP, we will be looking at each of the defining aspects using cutting edge technology that makes it standout from the rest in the business. Lets take a look under the hood. OS: Windows 10 Home 64 Body Style: This featherweight 13-inch di...
muxajax@blogger.com

SAA eyes 5th Freedom for African Skies.

Image
SAA Fleet in Airline Livery Given the success it has seen at its West African hub in Accra, Ghana, South African Airways (SA, Johannesburg O.R. Tambo) is seeking to expand its 5th Freedom business model to include more destinations across Africa. The Star Alliance carrier began operations out of the Ghanaian capital to each of Abidjan and Washington Dulles in August 2015 by virtue of the country's liberal policy of awarding foreign carriers 5th Freedom traffic rights. Similar rights have since been secured from the Gabonese and Cameroonian governments paving the way for the launch of a 3x weekly Johannesburg O.R. Tambo-Libreville-Douala-Libreville-Johannesburg service. As such, the carrier's acting General Manager (Commercial), Aaron Munetsi, told African Aerospace earlier this year that as part of SAA's renewed focus on developing its continental African market access, it is now looking to expand the offering to countries closer to home. Among the African c...
muxajax@blogger.com