Fastjet reports best month of trading to date

Fastjet has announced that its passenger sales records were comfortably beaten in May.

Revenues, in excess of $1.8 million for the month, were up approximately 50% compared with the start of the year. Revenue per passenger has increased by 62% since the beginning of 2013 and load factor rose 11% in May compared to April. This performance is expected to continue into June.

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 Fly540 operation in Ghana has also made significant progress in terms of passenger loads and revenues. The number of passengers booked to travel in May saw an 11% increase against the previous month and the operation has also seen a 52% increase in passenger numbers compared with May 2012, a 25% increase in revenue, and an exemplary operational record of reliability.

Fastjet has also seen a significant change in consumer behaviour in Ghana, with a 398% increase in web based sales so far in 2013 versus the whole of 2012.

Fastjet’s Angolan business has achieved its highest passenger sales figure since the start of operations in January 2011 with a 63% increase in passenger numbers in the last five months, and a corresponding revenue increase of 66.5% between January and May. Month on month passenger growth between April and May was 38%.

fastjet is training more Angolan pilots than ever and is looking to increase the scale of its operation there as soon as practical.

Ed Winter, chief executive officer of fastjet, 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.

“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.”