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Fastjet pleased with March traffic

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Discount airline Fastjet (LON:FJET) saw a 20% rise in passengers on its core operations in Tanzania in March.

The carrier, which is just completing a refinancing, said its operations in Tanzania carried a total of 34,536 passengers at a load factor of 67%.

The average yield per passenger was $88 compared to $52 in March 2013, while 90% of the flights were on time.

Ed Winter, interim chairman and chief executive, said the results were good as demand is generally low at this time of year while this year the peak Easter season is in April.

The airline raised £11mln through a placing last week and yesterday said it would seek up to another £3.9mln through an open offer to shareholders.

On a rolling twelve month basis, the airline carried 386,000 passengers.

Including the legacy Fly540 operations, the 12-month total was 992,000 though the Fly540 routes saw a decline in passenger numbers due to a restructuring currently underway.

Fastjet also said it will not be publishing its average per passenger yield in future as this information is increasingly becoming competitively sensitive in Tanzania.

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