Fastjet PLC fastjet launches new routes from Zimbabwe (1103M)

TIDMFJET

RNS Number : 1103M

Fastjet PLC

18 January 2016

fastjet Plc

("fastjet" or the "Company")

18 January 2016

fastjet launches flights between Zimbabwe and South Africa

fastjet (AIM: FJET), Africa's low-cost airline, has been granted permission by the authorities of South Africa and Zimbabwe to operate flights between Harare and Victoria Falls in Zimbabwe, and Johannesburg in South Africa. The launch of these popular and currently underserved routes is a significant step forward for fastjet Zimbabwe.

Flights between Harare and Johannesburg will operate daily and flights on the Victoria Falls to Johannesburg route will initially operate three times a week, with fares starting from US $80 (plus government taxes), considerably lower than prices offered by carriers currently serving the route. Tickets go on sale this week, and flights from Harare will commence on 1st February 2016. fastjet also has approval for a second daily flight between Harare and Johannesburg; this will be introduced as market demand grows.

fastjet expects to receive additional international route approvals in the first quarter of 2016 which, when added to the key Johannesburg routes announced today, will create a substantial fastjet Zimbabwe network.

Commenting, fastjet Chief Executive Officer, Ed Winter, said: "In launching these flights, fastjet Zimbabwe is establishing itself as a key player in the market.

"There is clearly significant demand for affordable travel between Harare and Johannesburg. Up to 100 buses a day travel between the two cities, a journey which can take as long as 24 hours. Similarly, the 1300km road journey from Johannesburg to the World Heritage Site of Victoria Falls, one of the biggest tourist attractions in Southern Africa, can take as long as two days with border crossings. fastjet flights will take just one hour and forty minutes.

"As we have seen in other markets, we expect many passengers currently undertaking the journey by bus to switch to flying, taking advantage of fastjet's low fares and safe and reliable flights.

"There are significant historical, commercial and political links between the two countries, and it is estimated that more than 3 million Zimbabweans now live in South Africa. fastjet Zimbabwe is now well placed to capitalise on the opportunities that this market offers."

For more information, contact:

 
 fastjet Plc                         Tel: [phone] 
                                      6307 
 Ed Winter, CEO 
  Rose Herbert, Investor Relations 
  Manager 
 
 UK media - Citigate Dewe Rogerson   Tel: [phone] 
                                      9571 
 Angharad Couch 
 Eleni Menikou 
 Nick Hayns 
 
 South African media - Tribeca       Tel: [phone] 
  Public Relations                    5500 
 Cian Mac Eochaidh 
 Kelly Webster 
 
 For investor enquiries please 
  contact: 
 
 
 Liberum Capital Limited -         Tel: [phone] 
  Nominated Adviser and Joint       2222 
  Broker 
 Clayton Bush 
 Christopher Britton 
 
 W.H. Ireland Ltd.- Joint Broker    Tel: [phone] 
                                     1666 
 James Joyce 
 Mark Leonard 
 
 Sanlam Securities UK Limited      Tel: [phone] 
  - Joint Broker                    2200 
 Simon Clements 
 

NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. fastjet Zimbabwe was successfully launched in October 2015. By adhering to international standards of safety, quality, security and reliability; fastjet has brought a new flying experience to the African market at unprecedented low prices. Utilising its fleet of Airbus A319s, fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for "Brand Strategy of the Year" at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet Plc is quoted on the London Stock Exchange's AIM Market.

For more information see www.fastjet.com

This information is provided by RNS

The company news service from the London Stock Exchange

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January 18, 2016 02:00 ET (07:00 GMT)