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Fastjet PLC

fastjet starts flights from Zimbabwe after licence award

Seats have gone on sale immediately for the first fastjet Zimbabwe route.

Fares start at $20 exclusive of taxes for a one way flight.

Fastjet (LON:FJET), has been granted an Air Operator Certificate (AOC) in Zimbabwe, clearing the way for the low cost carrier to open a second base in Africa.

Fastjet Zimbabwe can now fly domestic and international routes within and from Zimbabwe and will be designated a Zimbabwean airline on international routes to a number of east and southern African countries.

Seats have gone on sale immediately for the first Fastjet Zimbabwe route, linking Harare to Victoria Falls initially three times a week.

Fares start at $20 exclusive of taxes for a one way flight.

Ed Winter, chief executive, said: "Adding a second Fastjet airline to our network is an incredibly significant milestone on our path to becoming the most successful pan African low cost airline. 

"We recognised the real potential in Zimbabwe some time ago and have been working hard together with the relevant authorities towards this momentous day. With their support we are now in a position to launch our Zimbabwean operation.   

"In Tanzania we have become the airline of choice, with an enviable operational reputation and market leading fares. I am confident that, with our proven low-cost model, we can replicate this success in Zimbabwe."

Broker Sanlam added that opening of new bases is at the heart of the group’s investment case.

Fastjet has been successful in stimulating traffic, with low fares in Tanzania and we expect this to be replicated in Zimbabwe.”

Quick facts: Fastjet PLC

Price: £0.01

Market: AIM
Market Cap: £54.16 m

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