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Showing posts from June, 2016

fastjet once again wins Transport Africa's Innovation Award

Johannesburg, 29 June 2016 – fastjet, the low-cost pan-African airline, was awarded the Transport Innovator Award for a second consecutive year at the 9th Transport Africa Awards 2016 held in Johannesburg, South Africa on 28 June 2016.

The Transport Africa Awards set out to identify and reward leaders in transportation who demonstrate an unparalleled ability to succeed, offer a competitive advantage and set standards of excellence in the sector.
The Transport Innovator Award specifically recognises companies providing an innovative product, service or initiative that offers a competitive advantage, satisfies transport demands across Africa and has equal capacity to realise commercial gains.
“It’s an honour to win the Transport Innovation Award for the second consecutive year. This recognition highlights fastjet’s vision and efforts to make air travel accessible and affordable to more people on the African continent,” says Jai Gilbert, Head of Marketing at fastjet.
fastjet was rewarded …

First made-in-China jetliner begins airline service

SHANGHAI—The first regional jet produced in China’s initiative to compete in the commercial aircraft market made its debut flight Tuesday carrying 70 passengers.

The ARJ21-700 jet is one of a series of initiatives launched by the ruling Communist Party to transform China from the world’s low-cost factory into a creator of profitable technology in aviation, clean energy and other fields.
The plane operated by Chengdu Airlines took its passengers from the western city of Chengdu to Shanghai in two hours.
China is one of the biggest aviation markets but relies on foreign-made aircraft. Beijing wants to capture more of those sales. Its major airlines are state-owned, which gives the ruling party a captive pool of potential customers that can be ordered to buy Chinese-made aircraft.
The ARJ21 — or Asian Regional Jet for the 21st Century — is intended to make its state-owned manufacturer, Commercial Aircraft Corp. of China, a competitor to Bombardier Inc. of Canada and Brazil’s Embraer SA.
“The …

TCAA to Review Airfare After Aviation Insurance Tax Scrapping

The local aviation regulator, Tanzania Civil Aviation Authority (TCAA), says it will review airfares later this year to provide relief to travellers following the government's decision to scrap premium tax on aviation insurance. Finance and Planning Minister Dr Phillip Mpango proposed for VAT exemption on aviation insurance charges in the National Assembly on Wednesday as measures to support the hatchling aviation industry. "This measure takes into consideration that aviation industry in the country is still at infant stage and needs to be supported to be able to cover insurance risks without additional costs due to taxation," the minister said in his budget speech. He had added that there was need to promote the aviation industry and subsequently tourism industry, noting that "the measure will allow operators to acquire insurance covers from within the country instead of offshore market". Speaking to the 'Daily News', TCAA Director General Mr Hamza Jo…

fastjet's results for the year to 31 December 2015

fastjet,thelow-costAfricanairline,announcesitsaudited final resultsfor theyearended31 December 2015.
Below is a summary of fastjet’s results for the year to 31 December 2015.
For the full results announcement including strategic reports and financial performance, please click on this link. http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/FJET/12838257.html
The table below shows the financial performance of the fastjet Group continuing activities excluding the legacy Fly 540 Angola CGU.

2015 2014
US$ US$ Revenue 65.1m 53.8m Operating loss from continuing activities (37.9)m (43.9)m Loss from continuing activities after tax (36.2)m (44.4)m <