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Fastjet PLC - Directorate Change

RNS Number : 1177E
Fastjet PLC
02 July 2019

fastjet Plc
("fastjet" or the "Company")

Board Change

2 July 2019

fastjet plc, the low-fare African airline, today announces that Nico Bezuidenhout, the Company's Chief Executive over the last three years, has given notice that he will leave the Company, and Board, at the end of September 2019, to re-join a business of which he was the original founding CEO.  Nico will remain with the Company for a period of 3 months, overseeing specific projects, assisting with the handover of responsibilities and ensuring an appropriate transition.

In the interim, Mark Hurst, currently Deputy Group CEO, will take up the position of acting CEO, working closely with Nico for the handover, and thereafter assume the Group CEO role until such time as a permanent replacement CEO is appointed. Mark joined the business in July 2018, was appointed as Deputy Group CEO in January 2019 and has been actively involved in the business over the last 12 months. Mark has significant aviation experience with particular expertise in fleet management, aircraft sourcing, operating and leasing, as well as the development and implementation of operational efficiencies throughout the aviation value chain. He is highly regarded in the African aerospace sector for his operational track record, his ability to drive strategic initiatives in challenging environments and his value and supply chain management.

Rashid Wally, Chairman of fastjet, said:

"On behalf of the Board and myself, I would like to thank Nico for his efforts, dedication and time invested over the last three years in favour of fastjet and its Shareholders.  The fastjet of today is a fundamentally different business compared to three years ago and we wish Nico well in his future endeavours.

We are delighted to have someone of Mark's calibre already on the Board. Mark will be focused on continuing to consolidate fastjet's position in its core markets as well as explore other opportunities for growth."

This announcement is released by fastjet plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Kris Jaganah, Chief Financial Officer.





For more information, contact:


fastjet Plc

Tel: +27 (0) 10 070 5151

Nico Bezuidenhout, Chief Executive Officer

Mark Hurst, Deputy Group CEO

Kris Jaganah, Chief Financial Officer




Media - Citigate Dewe Rogerson

Tel: +44 (0) 20 7638 9571

Angharad Couch, Toby Moore, Nick Hayns




For investor enquiries please contact:


Liberum Capital Limited - Nominated Adviser and Broker

Tel: +44 (0) 20 3100 2222

Andrew Godber, Clayton Bush, James Greenwood,

Trystan Cullen, William Hall





About fastjet Plc


Fastjet is a multi-award-winning value African airline that began flight operations in 2012. Their awards include, Leading African Low-Cost Carrier World Travel Awards 2016, 2017, 2018 and 2019, and Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017. Today, Fastjet connects Zimbabwe by flying between Harare and Victoria Falls, Harare and Bulawayo, and from Harare to Victoria Falls. They also offer flights from Harare and Vic Falls to Johannesburg in South Africa. The airline also began branded domestic flights in Mozambique, using Embraer E145, a 50-seater aircraft operated by Solenta Aviation Mozambique, in November 2017. As part of a codeshare agreement entered with LAM - Mozambique Airlines, fastjet is able to offer its customers flights between Maputo, Tete, Beira and Quelimane.

Since commencing operations, fastjet flown over 3 million passengers and has established itself as a punctual, reliable, and affordable low-cost carrier.

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Quick facts: Fastjet PLC

Price: 0.115

Market: AIM
Market Cap: £4.37 m

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