Fastjet still awaits clearance for Nairobi flights as results again improve

[msemakweli]

They say you should never make threats, you either do something or you shut up. They will be issued with a license, but after jambo jet has started flying to those destinations, nilikuambia tulia uone vile huu mchezo huchezwa

Why do you cry foul when Tanzania plays the protectionism card?

 

[Yule-Msee]

Geza Ulole this news makes me neither sad nor happy. Fastjet is very much not a Tanzanian company and, from what i heard, plans to shift its EA headquarters to Nairobi as soon as they get the license to fly there.
But, good news is that Air Tanzania's debts have almost been paid in full, and we may expect it to regain respectable status soon!

did I see "regain" and "respectable status" in a statement that has ATCL as its subject

 

[Yule-Msee]

Why do you cry foul when Tanzania plays the protectionism card?

show me a single post to prove your statement

 

[NairobiWalker]

did I see "regain" and "respectable status" in a statement that has ATCL as its subject

Hahaha!!!!

 

[Geza Ulole]

Geza Ulole this news makes me neither sad nor happy. Fastjet is very much not a Tanzanian company and, from what i heard, plans to shift its EA headquarters to Nairobi as soon as they get the license to fly there.
But, good news is that Air Tanzania's debts have almost been paid in full, and we may expect it to regain respectable status soon!

Keep dreaming 51% is owned by Tanzanians as we speak! Roho inakuuma najua ila fastjet will wipe off KQ from her 2nd runner dominance behind ET! And from this news here they will put only one aircraft in Kenya while 7 more will be in Tanzania! Headquarters of Fastjet Pls are known to be in London so if you dream of having them then let them come to Nairobi since that office is insignificant to me as the mode of operation for fastjet is to open a local company for each country in Africa while Fastjet Plc parent company offices remain in London and that's pretty enough for me!

 

[msemakweli]

show me a single post to prove your statement

Its not about posts my good friend. We saw it in the media when Tz refused to join the single tourism visa, or when it refused to abolish work permits for EA citizens or allow them to own land in Tanzania!
We agree to protocols that we fill are of benefit to us e.g. the monetary union protocol and all the ongoing joint infrastructure projects e.g. the Arusha-Nairobi highway.

 

[NairobiWalker]

Keep dreaming 51% is owned by Tanzanians as we speak! Roho inakuuma najua ila fastjet will wipe off KQ from her 2nd runner dominance behind ET! And from this news here they will put only one aircraft in Kenya while 7 more will be in Tanzania! Headquarters of Fastjet Pls are known to be in London so if you dream of having them then let them come to Nairobi since that office is insignificant to me as the mode of operation for fastjet is to open a local company for each country in Africa while Fastjet Plc parent company offices remain in London and that's pretty enough for me!

While KQ is buying the best planes in the world you're here busy fighting over a Welsh airline. Pathetic

 

[msemakweli]

Keep dreaming 51% is owned by Tanzanians as we speak! Roho inakuuma najua ila fastjet will wipe off KQ from her 2nd runner dominance behind ET! And from this news here they will put only one aircraft in Kenya while 7 more will be in Tanzania! Headquarters of Fastjet Pls are known to be in London so if you dream of having them then let them come to Nairobi since that office is insignificant to me as the mode of operation for fastjet is to open a local company for each country in Africa while Fastjet Plc parent company offices remain in London and that's pretty enough for me!

Can you show me some reliable evidence that fastjet is 51% Tanzanian?

 

[NairobiWalker]

Can you show me some reliable evidence that fastjet is 51% Tanzanian?

Good question.

 

[Geza Ulole]

Can you show me some reliable evidence that fastjet is 51% Tanzanian?

I know Kenyans are lazy at reading but good at arguing; if this helps mind u Tanzanian investors were hesitant to invest till when they were convinced the outlook is good company is on a profit making path! happy loser?

Fastjet Moves Closer To Zambia Base, Adds African Investors

Fri, 14th Nov 2014 10:13


LONDON (Alliance News) - Fastjet PLC Friday said that its Zambian operation has received an air service permit from the authorities in the country, moving it a step closer to launching operations there, while it also got permission to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg using Tanzania-based aircraft.




The company also did a shares deal in Tanzania that gives it a small Tanzanian investor base, a move that should assist it with its expansion plans as some African authorities want to see evidence of African ownership participation.

In a statement, the low-cost African airline backed by easyJet founder Stelios Haji-Ioannou, said the permit approval gives it authority to operate domestic and international flights within and from Zambia.
"The fastjet Zambia team is now focused on continuing the submission of the necessary documents and manuals to complete the application process for an Air Operating Certificate which will then allow the commencement of operations," it said in a statement.
Fastjet is based in Tanzania. It was founded when Rubicon Diversified Investments bought Fly540, which flew in Kenya, Ghana and Angola, from Lohnro in a reverse takeover in 2012. It started its own operations in Tanzania after that, and is gradually expanding into other African countries while suspending or selling the legacy Fly540 operations.
Its sold loss-making Fly540 Kenya to a director of that airline for a nominal fee, and has suspended the remaining Fly540 operations out of Ghana and Angola.

Meanwhile, it started expanding the fastjet operation by adding international flights out of Tanzania to its original domestic flights there. It started flying between Dar es Salaam in Tanzania and Johannesburg in South Africa, and then between Dar es Salaam and Lusaka in Zambia. It also signed a partnership with Lusaka-based regional airline Proflight Zambia, enabling passengers to travel between the destinations offered by the carriers.

In August, it started flying on a third international route between Dar es Salaam and Harare in Zimbawe, and in the same month incorporated its own company in Kenya with a target of starting a fastjet base there. The following month it launched its fourth international route out of Tanzania, between Dar es Salaam and Entebbe in Uganda.

Its passenger numbers have been increasing each month thanks to the new routes, and it has also added new ticketing partners like Expedia and Chinese travel website Qunar.com. It has been narrowing its losses by cutting costs thanks to the sale or suspension of the Fly540 operations.

Zambia would become fastjet's second base after Tanzania, and it plans to operate low-cost flights to various destinations in East and Southern Africa from there. It said prices on regional routes from Zambia are currently very high, especially where a monopoly operator controls the route, and it's confident its low-cost model can stimulate the market.
"Timescales before the first flight will be dependent on the time taken for the authorities to review the Air Operating Certificate application documents. We look forward to going on sale and commencing operations in Zambia once that process has been completed," Chairman and Chief Executive Ed Winter said.

The airline also said it has received permission from the Uganda Civil Aviation Authority to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg under "5th Freedom" rights using Tanzanian-based aircraft. It now just needs approval from authorities in the destination countries before it can start flying to those cities from Entebbe.

"Since Air Uganda ceased flying, the fares offered by other carriers for flights linking Uganda regionally have risen steadily. With fares, starting from as low as USD50 plus government taxes, fastjet is confident that it will attract considerable customer support," it said.

5th Freedom, which is also sometimes referred to as "beyond rights", is the right of an airline from one country to land in a second country, to then pick up passengers and fly on to a third country where the passengers then deplane, according to the International Air Transport Association definition.

Fastjet also said Friday that it has signed a deal with Enterprise Growth Market Advisors Ltd that will allow it to sell an interest in fastjet Tanzania to Tanzanian investors, a move that should allow it to further expand to more African destinations, particularly those who require evidence of African ownership participation.

As part of that deal, fastjet Tanzania has issued 835 shares in its share capital to fastjet International Ltd, a company incorporated in Tanzania and owned by four Tanzanian nationals - Ami Mpungwe, George Carmichael Theobald, John Corse and Sophia Rwegellera. fastjet Tanzania also issued a further 17 shares in fastjet Tanzania to each of Ami Mpungwe and Lawrence Masha, the two Tanzanian non-executive directors of fastjet Tanzania.

Under the terms of the arrangement, the Tanzanian shareholders have agreed to sell their interest in fastjet International Ltd and/or fastjet Tanzania to subsequent Tanzanian investors at a price and on terms as specified by fastjet PLC.

The parent company will start looking for suitable long term Tanzanian shareholders "with the aim of fulfilling fastjet's ambition of having airline companies in strategic African jurisdictions which are part owned by nationals of the countries in which they are based to help in creating a truly pan-African airline".

"This is a positive and logical step in the implementation of our model of local investment and local finance for growth, and will aid in fastjet Tanzania being granted additional rights under Bilateral Air Service Agreements with other African countries on the continent," Winter said.

Fastjet also reiterated that it will need further funding until it becomes profitable and will need more funds for each significant phase of its expansion in Zambia and Uganda.
"The board is in discussions with a number of potential funders, including industry partners and specialist African investors, with a view to investment both at the group level and at the individual operating company level. The company is aiming to complete this necessary funding by early in the New Year," it said.

The airline raised GBP14.9 million in a share placing and open offer earlier in the year with Stelios' easyGroup IP Licensing Ltd agreeing to invest GBP1 million in the placing.

Fastjet shares were up 3.5% at 0.750 pence in London Friday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; stevemcgrath1

Copyright 2014 Alliance News Limited. All Rights Reserved.

http://www.lse.co.uk/AllNews.asp?cod...ican_Investors

 

[Geza Ulole]

Its not about posts my good friend. We saw it in the media when Tz refused to join the single tourism visa, or when it refused to abolish work permits for EA citizens or allow them to own land in Tanzania!
We agree to protocols that we fill are of benefit to us e.g. the monetary union protocol and all the ongoing joint infrastructure projects e.g. the Arusha-Nairobi highway.

Otherwise you are stupid as other Kenyans are in here then You fail to know that one visa thing falls beyond the protocol u as Kenyan can enter any EA member state without a visa whereas one visa for tourists aim to allow non East Africans to enter for free in any member state a thing i find stupid since it is to lose revenues and put our parks that needs money to maintain under pressure to handle influx that is to arise!

Your land is under Kenyattas until you claim that back Tanzania will be in a position to consider your right to own land in her back yard! whereas for working permit remove your tribal related favoritism before Tanzania can let you people work for free in Tanzania. Just imagine if a Jaluo can not get a job in Kenya, how can non Kenyan get a job in that some country languishing in chronic tribalism?

 

[NairobiWalker]

I know Kenyans are lazy at reading but good at arguing; if this helps mind u Tanzanian investors were hesitant to invest till when they were convinced the outlook is good company is on a profit making path! happy loser?

Fastjet Moves Closer To Zambia Base, Adds African Investors

Fri, 14th Nov 2014 10:13


LONDON (Alliance News) - Fastjet PLC Friday said that its Zambian operation has received an air service permit from the authorities in the country, moving it a step closer to launching operations there, while it also got permission to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg using Tanzania-based aircraft.




The company also did a shares deal in Tanzania that gives it a small Tanzanian investor base, a move that should assist it with its expansion plans as some African authorities want to see evidence of African ownership participation.

In a statement, the low-cost African airline backed by easyJet founder Stelios Haji-Ioannou, said the permit approval gives it authority to operate domestic and international flights within and from Zambia.
"The fastjet Zambia team is now focused on continuing the submission of the necessary documents and manuals to complete the application process for an Air Operating Certificate which will then allow the commencement of operations," it said in a statement.
Fastjet is based in Tanzania. It was founded when Rubicon Diversified Investments bought Fly540, which flew in Kenya, Ghana and Angola, from Lohnro in a reverse takeover in 2012. It started its own operations in Tanzania after that, and is gradually expanding into other African countries while suspending or selling the legacy Fly540 operations.
Its sold loss-making Fly540 Kenya to a director of that airline for a nominal fee, and has suspended the remaining Fly540 operations out of Ghana and Angola.

Meanwhile, it started expanding the fastjet operation by adding international flights out of Tanzania to its original domestic flights there. It started flying between Dar es Salaam in Tanzania and Johannesburg in South Africa, and then between Dar es Salaam and Lusaka in Zambia. It also signed a partnership with Lusaka-based regional airline Proflight Zambia, enabling passengers to travel between the destinations offered by the carriers.

In August, it started flying on a third international route between Dar es Salaam and Harare in Zimbawe, and in the same month incorporated its own company in Kenya with a target of starting a fastjet base there. The following month it launched its fourth international route out of Tanzania, between Dar es Salaam and Entebbe in Uganda.

Its passenger numbers have been increasing each month thanks to the new routes, and it has also added new ticketing partners like Expedia and Chinese travel website Qunar.com. It has been narrowing its losses by cutting costs thanks to the sale or suspension of the Fly540 operations.

Zambia would become fastjet's second base after Tanzania, and it plans to operate low-cost flights to various destinations in East and Southern Africa from there. It said prices on regional routes from Zambia are currently very high, especially where a monopoly operator controls the route, and it's confident its low-cost model can stimulate the market.
"Timescales before the first flight will be dependent on the time taken for the authorities to review the Air Operating Certificate application documents. We look forward to going on sale and commencing operations in Zambia once that process has been completed," Chairman and Chief Executive Ed Winter said.

The airline also said it has received permission from the Uganda Civil Aviation Authority to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg under "5th Freedom" rights using Tanzanian-based aircraft. It now just needs approval from authorities in the destination countries before it can start flying to those cities from Entebbe.

"Since Air Uganda ceased flying, the fares offered by other carriers for flights linking Uganda regionally have risen steadily. With fares, starting from as low as USD50 plus government taxes, fastjet is confident that it will attract considerable customer support," it said.

5th Freedom, which is also sometimes referred to as "beyond rights", is the right of an airline from one country to land in a second country, to then pick up passengers and fly on to a third country where the passengers then deplane, according to the International Air Transport Association definition.

Fastjet also said Friday that it has signed a deal with Enterprise Growth Market Advisors Ltd that will allow it to sell an interest in fastjet Tanzania to Tanzanian investors, a move that should allow it to further expand to more African destinations, particularly those who require evidence of African ownership participation.

As part of that deal, fastjet Tanzania has issued 835 shares in its share capital to fastjet International Ltd, a company incorporated in Tanzania and owned by four Tanzanian nationals - Ami Mpungwe, George Carmichael Theobald, John Corse and Sophia Rwegellera. fastjet Tanzania also issued a further 17 shares in fastjet Tanzania to each of Ami Mpungwe and Lawrence Masha, the two Tanzanian non-executive directors of fastjet Tanzania.

Under the terms of the arrangement, the Tanzanian shareholders have agreed to sell their interest in fastjet International Ltd and/or fastjet Tanzania to subsequent Tanzanian investors at a price and on terms as specified by fastjet PLC.

The parent company will start looking for suitable long term Tanzanian shareholders "with the aim of fulfilling fastjet's ambition of having airline companies in strategic African jurisdictions which are part owned by nationals of the countries in which they are based to help in creating a truly pan-African airline".

"This is a positive and logical step in the implementation of our model of local investment and local finance for growth, and will aid in fastjet Tanzania being granted additional rights under Bilateral Air Service Agreements with other African countries on the continent," Winter said.

Fastjet also reiterated that it will need further funding until it becomes profitable and will need more funds for each significant phase of its expansion in Zambia and Uganda.
"The board is in discussions with a number of potential funders, including industry partners and specialist African investors, with a view to investment both at the group level and at the individual operating company level. The company is aiming to complete this necessary funding by early in the New Year," it said.

The airline raised GBP14.9 million in a share placing and open offer earlier in the year with Stelios' easyGroup IP Licensing Ltd agreeing to invest GBP1 million in the placing.

Fastjet shares were up 3.5% at 0.750 pence in London Friday morning.

By Steve McGrath; stevemcgrath@alliancenews.com; stevemcgrath1

Copyright 2014 Alliance News Limited. All Rights Reserved.

http://www.lse.co.uk/AllNews.asp?cod...ican_Investors

It doesn't mention 51%. Dude go and mourn ATCL and stop claiming a Welsh airline.

 

[NairobiWalker]

Otherwise you are stupid as other Kenyans are in here then You fail to know that one visa thing falls beyond the protocol u as Kenyan can enter any EA member state without a visa whereas one visa for tourists aim to allow non East Africans to enter for free in any member state a thing i find stupid since it is to lose revenues and put our parks that needs money to maintain under pressure to handle influx that is to arise!

Your land is under Kenyattas until you claim that back Tanzania will be in a position to consider your right to own land in her back yard!

Meanwhile the only planes flying in your country belong to foreigners.

 

[Geza Ulole]

Meanwhile the only planes flying in your country belong to foreigners.

We only buy them when they start making profit teaching Kenyans business acumenship

Fastjet granted air service permit in Zambia

Posted November 14, 2014 by Aviation, Tourism and Conservation news - DAILY from Eastern Africa and the Indian Ocean islands in Uncategorized.

FASTJET GETS 5TH FREEDOM RIGHTS FROM UCAA TO NAIROBI, JUBA, JOHANNESBURG AND KIGALI
(Posted 14th November 2014)

In a breaking news development was it just confirmed that Fastjet, already flying from Dar es Salaam to Entebbe, was granted fifth freedom rights by the Uganda Civil Aviation Authority to commence operations out of Uganda, using their Tanzania registered aircraft for flights. The destinations given are Juba, Nairobi, Johannesburg and Kigali, to be flown on behalf of Uganda. What is now required though is the reciprocal approval by the Civil Aviation Authorities in South Sudan for the route from Entebbe to Juba, from the Kenya Civil Aviation Authority for flights from Entebbe to Nairobi – a major challenge considering that Fastjet's application for scheduled flights from Dar es Salaam to Nairobi is still 'parked' on the desk of a bureaucrat, as well as from the relevant bodies in South Africa and Rwanda for the Johannesburg and Kigali routes.


Meanwhile, in other breaking news, was it confirmed that Fastjet PLC has signed an agreement with Tanzanian investors to acquire additional shares in the company, raising the local share holding above the 51 percent margin.

From further down South yet more breaking news have just been confirmed as the Zambian authorities have reportedly granted the important Air Service Permit, the penultimate step before obtaining an air operator certificate and then launching flights from Lusaka to domestic and regional destinations.

Said the media statement received from Fastjet's corporate communications office:

Start quote:

Zambia Air Service Permit (ASP) granted

fastjet plc is pleased to announce that fastjet Zambia Ltd has received an Air Service Permit (ASP) from the authorities in Zambia.

The ASP approval marks a major step towards launching fastjet operations in Zambia and will give the airline the authority to operate air services to both domestic and international destinations within and from Zambia.

The fastjet Zambia team is now focused on continuing the submission of the necessary documents and manuals to complete the application process for an Air Operating Certificate (AOC) which will then allow the commencement of operations.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: 'We have been working tirelessly to roll out the fastjet model across the region and obtaining the ASP in Zambia is a really positive step forward. We still have to obtain the full AOC, but this vote of confidence from the authorities is a major step along that road. Timescales before the first flight will be dependent on the time taken for the authorities to review the AOC application documents. We look forward to going on sale and commencing operations in Zambia once that process has been completed'.

fastjet commenced the process of obtaining the necessary licences earlier this year. Receiving an ASP means that the Zambian Civil Aviation Authority and the Ministry of Transport has approved the business plan, aircraft choice and proposed structure of the planned airline as appropriate to operate in Zambia.

Zambia will be fastjet's second base from which it plans to operate low cost flights to various destinations in East and Southern Africa. Prices on regional routes from Zambia are currently very high especially so where a monopoly operator controls the route. Fastjet is confident that its low cost model will stimulate the market.

Uganda 5th Freedom Flights approved by Uganda


fastjet commenced operations from Dar es Salaam to Entebbe on the 16th September, and added additional flights in October and this new permission will further establish fastjet in Uganda and assist in the process of offering additional destinations to fastjet's growing network.

Since Air Uganda ceased flying, the fares offered by other carriers for flights linking Uganda regionally have risen steadily. With fares, starting from as low as US$50 plus government taxes, fastjet is confident that it will attract considerable customer support.

In addition, fastjet plc is pleased to announce that it has received permission from the Uganda Civil Aviation Authority to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg under ‘5th Freedom' rights using Tanzanian based aircraft. Once the authorities in the relevant countries provide their approvals fastjet Tanzania will be able to offer flights linking Entebbe with these destinations.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: '5th Freedom rights present a fantastic opportunity to increase the Tanzanian network, increasing aircraft utilisation and also establishing the fastjet brand in Uganda without the immediate establishment of a full Ugandan base'.

IATA definition 5th Freedom: This freedom is also sometimes referred to as "beyond rights". It is the right of an airline from one country to land in a second country, to then pick up passengers and fly on to a third country where the passengers then deplane

Tanzania

The Company is pleased to announce it has signed an agreement to enable Tanzanian participation in the ownership of fastjet Airlines Limited, its Tanzanian based airline (fastjet Tanzania).

fastjet Plc and fastjet Tanzania today entered into an agreement with Enterprise Growth Market Advisors Limited (EGMA) for the purpose of selling an interest in fastjet Tanzania to Tanzanian investors. As part of that agreement, fastjet Tanzania today issued 835 shares in its share capital (the Tanzania Shares) to fastjet International Limited, a company incorporated in Tanzania (fastjet Holdco), which is in turn is owned by four Tanzanian nationals including Ami Mpungwe, George Carmichael Theobald, John Corse and Sophia Rwegellera (the Tanzania Shareholders). fastjet Tanzania also issued a further 17 shares in fastjet Tanzania to each of Ami Mpungwe and Lawrence Masha, the two Tanzanian non-executive directors of fastjet Tanzania, being 34 shares in total and representing 2% of its enlarged share capital. The issue of these shares brings the total Tanzanian legal and beneficial ownership of fastjet Tanzania to 51%.

As a consequence of these changes fastjet Tanzania is expected to benefit from entry into new markets and have greater access to more international African destinations through the various Bilateral Air Service Agreements to which Tanzania is a party.

The Board of fastjet believes that the issue of the new shares and the Placing Arrangements will provide the near term benefit of local shareholding in Tanzania. It will initiate the process of finding suitable long term Tanzanian shareholders with the aim of fulfilling fastjet's ambition of having airline companies in strategic African jurisdictions which are part owned by nationals of the countries in which they are based to help in creating a truly pan-African airline.

Funding

As set out in the interim results in September, until the contribution from operations exceeds central costs, there will be a requirement for additional funding for the Group. Furthermore, additional funding will be required for each significant phase of expansion including that in Zambia and Uganda, outlined above, as well as its near term working capital.

The Board is in discussions with a number of potential funders, including industry partners and specialist African investors, with a view to investment both at the Group level and at the individual operating company level. The Company is aiming to complete this necessary funding by early in the New Year.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said 'We are delighted to have found a suitable structure which allows for Tanzanian participation in fastjet Tanzania, whilst providing the opportunity to raise capital from local Tanzanian investors. This is a positive and logical step in the implementation of our model of local investment and local finance for growth, and will aid in fastjet Tanzania being granted additional rights under Bilateral Air Service Agreements with other African countries on the continent. It is pleasing to see that as a result of Management focus on the regulatory framework, approvals in both Uganda and Zambia have been granted. This is a very significant step along the road to becoming a truly pan African Low Cost airline'.

End quote

Fastjet granted air service permit in Zambia | ATC News by Wolfgang H. Thome

 

[NairobiWalker]

We only buy them when they start making profit teaching Kenyans business acumenship

Fastjet granted air service permit in Zambia

Posted November 14, 2014 by Aviation, Tourism and Conservation news - DAILY from Eastern Africa and the Indian Ocean islands in Uncategorized.

FASTJET GETS 5TH FREEDOM RIGHTS FROM UCAA TO NAIROBI, JUBA, JOHANNESBURG AND KIGALI
(Posted 14th November 2014)

In a breaking news development was it just confirmed that Fastjet, already flying from Dar es Salaam to Entebbe, was granted fifth freedom rights by the Uganda Civil Aviation Authority to commence operations out of Uganda, using their Tanzania registered aircraft for flights. The destinations given are Juba, Nairobi, Johannesburg and Kigali, to be flown on behalf of Uganda. What is now required though is the reciprocal approval by the Civil Aviation Authorities in South Sudan for the route from Entebbe to Juba, from the Kenya Civil Aviation Authority for flights from Entebbe to Nairobi – a major challenge considering that Fastjet’s application for scheduled flights from Dar es Salaam to Nairobi is still ‘parked’ on the desk of a bureaucrat, as well as from the relevant bodies in South Africa and Rwanda for the Johannesburg and Kigali routes.


Meanwhile, in other breaking news, was it confirmed that Fastjet PLC has signed an agreement with Tanzanian investors to acquire additional shares in the company, raising the local share holding above the 51 percent margin.

From further down South yet more breaking news have just been confirmed as the Zambian authorities have reportedly granted the important Air Service Permit, the penultimate step before obtaining an air operator certificate and then launching flights from Lusaka to domestic and regional destinations.

Said the media statement received from Fastjet’s corporate communications office:

Start quote:

Zambia Air Service Permit (ASP) granted

fastjet plc is pleased to announce that fastjet Zambia Ltd has received an Air Service Permit (ASP) from the authorities in Zambia.

The ASP approval marks a major step towards launching fastjet operations in Zambia and will give the airline the authority to operate air services to both domestic and international destinations within and from Zambia.

The fastjet Zambia team is now focused on continuing the submission of the necessary documents and manuals to complete the application process for an Air Operating Certificate (AOC) which will then allow the commencement of operations.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: ‘We have been working tirelessly to roll out the fastjet model across the region and obtaining the ASP in Zambia is a really positive step forward. We still have to obtain the full AOC, but this vote of confidence from the authorities is a major step along that road. Timescales before the first flight will be dependent on the time taken for the authorities to review the AOC application documents. We look forward to going on sale and commencing operations in Zambia once that process has been completed’.

fastjet commenced the process of obtaining the necessary licences earlier this year. Receiving an ASP means that the Zambian Civil Aviation Authority and the Ministry of Transport has approved the business plan, aircraft choice and proposed structure of the planned airline as appropriate to operate in Zambia.

Zambia will be fastjet’s second base from which it plans to operate low cost flights to various destinations in East and Southern Africa. Prices on regional routes from Zambia are currently very high especially so where a monopoly operator controls the route. Fastjet is confident that its low cost model will stimulate the market.

Uganda 5th Freedom Flights approved by Uganda


fastjet commenced operations from Dar es Salaam to Entebbe on the 16th September, and added additional flights in October and this new permission will further establish fastjet in Uganda and assist in the process of offering additional destinations to fastjet’s growing network.

Since Air Uganda ceased flying, the fares offered by other carriers for flights linking Uganda regionally have risen steadily. With fares, starting from as low as US$50 plus government taxes, fastjet is confident that it will attract considerable customer support.

In addition, fastjet plc is pleased to announce that it has received permission from the Uganda Civil Aviation Authority to operate flights from Uganda to Juba, Nairobi, Kigali and Johannesburg under ‘5th Freedom’ rights using Tanzanian based aircraft. Once the authorities in the relevant countries provide their approvals fastjet Tanzania will be able to offer flights linking Entebbe with these destinations.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said: ‘5th Freedom rights present a fantastic opportunity to increase the Tanzanian network, increasing aircraft utilisation and also establishing the fastjet brand in Uganda without the immediate establishment of a full Ugandan base’.

IATA definition 5th Freedom: This freedom is also sometimes referred to as "beyond rights". It is the right of an airline from one country to land in a second country, to then pick up passengers and fly on to a third country where the passengers then deplane

Tanzania

The Company is pleased to announce it has signed an agreement to enable Tanzanian participation in the ownership of fastjet Airlines Limited, its Tanzanian based airline (fastjet Tanzania).

fastjet Plc and fastjet Tanzania today entered into an agreement with Enterprise Growth Market Advisors Limited (EGMA) for the purpose of selling an interest in fastjet Tanzania to Tanzanian investors. As part of that agreement, fastjet Tanzania today issued 835 shares in its share capital (the Tanzania Shares) to fastjet International Limited, a company incorporated in Tanzania (fastjet Holdco), which is in turn is owned by four Tanzanian nationals including Ami Mpungwe, George Carmichael Theobald, John Corse and Sophia Rwegellera (the Tanzania Shareholders). fastjet Tanzania also issued a further 17 shares in fastjet Tanzania to each of Ami Mpungwe and Lawrence Masha, the two Tanzanian non-executive directors of fastjet Tanzania, being 34 shares in total and representing 2% of its enlarged share capital. The issue of these shares brings the total Tanzanian legal and beneficial ownership of fastjet Tanzania to 51%.

As a consequence of these changes fastjet Tanzania is expected to benefit from entry into new markets and have greater access to more international African destinations through the various Bilateral Air Service Agreements to which Tanzania is a party.

The Board of fastjet believes that the issue of the new shares and the Placing Arrangements will provide the near term benefit of local shareholding in Tanzania. It will initiate the process of finding suitable long term Tanzanian shareholders with the aim of fulfilling fastjet’s ambition of having airline companies in strategic African jurisdictions which are part owned by nationals of the countries in which they are based to help in creating a truly pan-African airline.

Funding

As set out in the interim results in September, until the contribution from operations exceeds central costs, there will be a requirement for additional funding for the Group. Furthermore, additional funding will be required for each significant phase of expansion including that in Zambia and Uganda, outlined above, as well as its near term working capital.

The Board is in discussions with a number of potential funders, including industry partners and specialist African investors, with a view to investment both at the Group level and at the individual operating company level. The Company is aiming to complete this necessary funding by early in the New Year.

Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, said ‘We are delighted to have found a suitable structure which allows for Tanzanian participation in fastjet Tanzania, whilst providing the opportunity to raise capital from local Tanzanian investors. This is a positive and logical step in the implementation of our model of local investment and local finance for growth, and will aid in fastjet Tanzania being granted additional rights under Bilateral Air Service Agreements with other African countries on the continent. It is pleasing to see that as a result of Management focus on the regulatory framework, approvals in both Uganda and Zambia have been granted. This is a very significant step along the road to becoming a truly pan African Low Cost airline’.

End quote

Fastjet granted air service permit in Zambia | ATC News by Wolfgang H. Thome

Where were you when ATCL was running into shambles? Business acumenship my foot.

 

[Geza Ulole]

Where were you when ATCL was running into shambles? Business acumenship my foot.

read what i just wrote! let KQ get schooled...I advice them to quit the business US$ 200 mio. is a lot and next year will be US$ 400 mio. 😛hoto:

 

[NairobiWalker]

read what i just wrote! let KQ get schooled...I advice them to quit the business US$ 200 mio. is a lot and next year will be US$ 400 mio. 😛hoto:

No.....ATCL was completely bankrupt when it grounded. We are not going to quit and ground a 41 modern plane airline just because someone's bitter because his countries 2 old rickety plane airline was grounded. Am sorry buddy. HAHAHA!!!

 

[Geza Ulole]

No.....ATCL was completely bankrupt when it grounded. We are not going to quit and ground a 41 modern plane airline just because someone's bitter because his countries 2 old rickety plane airline was grounded. Am sorry buddy. HAHAHA!!!

20 of them acquired via loan and not paid till today and no prospects to be paid soon with losses keep accumulating! :baby:

 

[NairobiWalker]

20 of them acquired via loan and not paid till today and no prospects to be paid soon with losses keep accumulating! :baby:

10 of the disposed ones still in better shape than what the ATCL scraps were at the time of grounding. :baby:

 

[Geza Ulole]

10 of the disposed ones still in better shape than what the ATCL scraps were at the time of grounding. :baby:

plus US$ 200 mio. :yell: means you have no aircraft