SUSTAINED STRONG GROWTH FOR FASTJET AS LATEST FIGURES ARE RELEASED IN LONDON
(Posted 03rd December 2014)
After reaching the two year landmark since commencing operations in Tanzania has Fastjet just released their latest operational and financial data, as required of companies listed on the London Stock Exchange.
Pre-bookings for December are almost twice the number compared to December 2013 and passenger uplift in November was up by 90 percent from last year with 63.146 passengers carried.
This resulted in a slightly raised loadfactor of 77 percent across the fleet which presently stands at 3 Airbus A319 in Fastjet livery and one added leased A319 to cater for the anticipated sharp rise in traffic ahead and over the festive season. Additional flights to several destinations have been scheduled already and details are available through the website www.fastjet.com
Said Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc: ‘We are very pleased with our trading position in Tanzania. November results are strong as we maximise our market leading position in the country. December is a critical month and the early signs are very positive.With fuel representing around 40% of our operating costs and oil prices forecast to remain at these low levels through early 2015, fastjet is directly benefitting from the reduced oil price’, suggesting an improved financial performance as a direct result of the present glut in crude oil supply and the resulting low price which in recent days has dropped to below 70 US Dollars per barrel. As Fastjet is not ‘hedging’ their fuel purchases is the impact on the bottom line literally immediate as aviation fuel companies across their network have already lowered their charges for JetA1 fuel.
| Month ending | November 2014 | November 2013 | Change |
| PassengersNote 1 | 63,146 | 33,320 | 90% |
| Load FactorNote 2 | 77% | 72% | +5pp |
| Rolling 12 months ending | November 2014 | November 2013 | Change |
| PassengersNote 1 | 569,031 | 357,602 | 59% |
It was also learned that on time performance in November stood at 91 percent which is at the upper end in comparison with other airlines flying in the Eastern African region.
In a related development can it also be confirmed that the application of Fastjet Tanzania to be granted traffic rights from Dar es Salaam to Nairobi, remains pending inspite of the Kenyan regulators having been exposed for their delaying tactics recently inspite of more or less now imminent counter measures by the Tanzania Civil Aviation Authority for failing to honour the existing bilateral air services agreement.
The recently granted 5th freedom traffic rights out of Entebbe to such places like Nairobi, Johannesburg and Juba have yet to be taken up by Fastjet as the destination country regulators have also not responded to the Uganda Civil Aviation’ handing Fastjet traffic rights out of Entebbe.
