DOCSLIB.ORG

Fastjet Tanzania Brings Battle to KQ's Doorstep

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Fastjet Tanzania Brings Battle to KQ's Doorstep 38 LOCAL THE STAR Monday, January 11, 2016 ! UP TO DATE, ACCURATE BUSINESS INFORMATION business NEWS YOU CAN USE, EVERY DAY Can YOU outsmart Fastjet Tanzania the expert? brings battle to ALY KHAN’S STAR KQ’s doorstep PORTFOLIO 2016 STARTS WITH A BANG he year 2016 started with a cratered except for gold [a geopoliti- bang. North Korea’s ‘Lil Kim’ cal proxy] which got a nice pop back set off a bomb and the global to the $1,100 area. Commodity-based media has been busy chal- currencies dropped like a stone. The Tlenging whether it really was an ‘H’ commodity markets have been a bomb. In a show of support for South persistent signal in the noise. The Korea and as a show of force, the US Japanese yen rallied big and actually deployed a B-52 bomber on a low- one of my conviction trades for 2016 level flight over South Korea yester- is to buy the yen against just about day. Saudi Arabia conducted its first everything. Dollar/yen closed at 117.30 mass execution of political opponents Friday and I think can get to 105.00 since 63 religious extremists were and even 95.00 this year. publicly beheaded for the 1979 siege There are clearly winners and los- in the Grand Mosque of Mecca. The ers in Africa. The big elephants in the execution of Sheikh Nimr-al-Nimr was room, Nigeria and South Africa [which the catalyst for the sacking of the together make up considerably more kingdom of Saudi Arabia’s embassy than 50 per cent of sub-Saharan Af- in Tehran and relations between the rica GDP] are getting mauled. Madam two have apparently entered a tail- Lagarde [MD of the IMF] was in Lagos spin. Last year, I spoke of how the and trying her elegant level best to world had entered a new arrhythmic cajole President Buhari into devaluing [irregular heartbeat.] Normal and the the Nigeria naira and at a time of his geopolitical heart in the year 2016 has choosing rather than in a disorderly evidently not normalised. Geopolitics manner and at a time of the markets COMPETITION: A Fastjet plane taxies at Kilimanjaro International Airport in Tanzania. was however eclipsed by events in choosing. A 20-25 per cent devalu- the financial markets. ation of the naira is predicted and BY RICHARD MUNGAI entertainment, choice of for regional air travel. Nowadays the markets begin their predictable. In South Africa, the rand "ve !ights every day and a Fastjet has been !ying day in China. China sets the tone for traded back above 16.00 0n Friday FASTJET Tanzania, will to- chance to get a refund on internationally through its the rest of the day. China’s Shanghai and within a whisker of ‘David van day launch its maiden !ight your ticket as some of the subsidiaries in South Africa, Composite Index slid 10 per cent for Rooyen’ Lows. I have an admittedly between Nairobi and Dar es things that gives it an edge Zambia, Uganda, Zimba- the week but that does not tell the outlier call of 20 to the dollar in 2016. Salaam, following clearance over the low cost airline. bwe and Malawi. whole story. There was carnage in a In a bear market the President Zuma by Kenya and Tanzania civil Other competitors such The airline plans to launch week that saw two abbreviated trad- hair-cut is going to get deeper and aviation authorities, accord- as Ethiopian Airlines, Pre- Fastjet Kenya, a separate ing sessions [one of just 29 minutes] deeper. ing to its management. cision Air and Rwanda company within the Fastjet and by Friday, the authorities decided There is no Hail-Mary pass coming The low-cost airline said Air, are currently charging group, targeting !ights be- to ditch the whole circuit-breaker for the commodity producers, and scheduled !ights between about $237 (Sh24,210), tween Nairobi and Entebbe, business. Massive buying by state from Abuja to Luanda, from Lusaka Nairobi and Kilimanjaro $222 (Sh22,675) and $236 Kinshasa, Harare, Kiliman- institutions staunched losses which to Johannesburg, the denouement is will also commence today, (Sh24,105), respectively, jaro, Juba, Lilongwe, Lusa- would have been off the charts oth- still ahead and the risks of a disorderly adding fares will be sig- which include taxes, for a ka and Zanzibar routes. erwise. Chinese weakness spilt over break-down are spiking just like the ni"cantly lower than those one way !ight on the same However, its yet to get the into other markets with Germany’s Chicago Board Options Exchange charged by other airlines route. necessary approvals from DAX Index falling below 10,000 for Volatility Index. currently operating direct “The maiden !ight from the Kenya Civil Aviation the first time since October, Europe’s Which brings me back to East Africa !ights between the two Dar es Salaam to Kenya is Authority, which in Novem- Stoxx 600 Index lost 6.7 per cent for and Kenya. There is a massive trend- countries, a move which is expected to land at the Jomo ber announced in a gazette its biggest drop in four years. A gauge change occurring in front of our eyes expected to stir competition Kenyatta International Air- notice, that FastJet Kenya of emerging-market equities com- in what was a previously intractable on the route. port on Monday,” Fastjet had not been granted an air piled by MSCI fell 6.8 per cent. The US problem, the perennial current ac- Fastjet said fares from general manager for East service licence to operate S&P 500 .SPX suffered its worst five- count deficits. This is an important Nairobi to Kilimanjaro will Africa, Jimmy Kibati, said !ights from the Jomo Keny- day opening to a year on record going point to note. Our import bills [fuel start from $50 (Sh,5017) in a statement on Friday. atta International Airport. back to 1929 and the Dow notched its and associated product are the single one-way, while fares from “Tickets for !ights on According to Kibati, worst start to the year on record dat- biggest expense item] have cratered. Nairobi to Dar es Sa- the new routes are on sale Fastjet further expects to ing back to 1897. The Chicago Board At current prices, I estimate Kenya laam will start from $80 immediately. Fastjet recom- launch !ights between Zan- Options Exchange Volatility Index is on-side by $150 million a month. (Sh8,171) one-way, both ex- mends passengers to book zibar and Nairobi and Dar surged 48 per cent to 27.01. The VIX’s This is big and this is why the shil- cluding taxes. early to take advantage of es Salaam and Mombasa biggest jump in a month left it 61 per ling has turned ‘teflon’. In fact, whilst National carrier, Kenya the lowest priced fares,” he later in 2016. cent above the one-year average of Kenya still runs behind Tanzania and Airways, yesterday said in said. “We are very grateful to 16.7. This is extreme price action any of course Ethiopia on a GDP basis, this an advertisement that its He said Fastjet will be use the authorities in both Ken- which way you care to slice it. part of Africa is now outperforming charging $266 (Sh27,169) modern Airbus A319 jet air- ya and Tanzania for working Crude prices plunged to a 12- the rest of sub-Saharan Africa and for an all inclusive one way craft with seating for up to together to make it possible year low and look headed into the the outperformance is accelerating ticket for a !ight from Nai- 156 passengers and the low for us to realise our vision of $20.00-$30.00 range as early as and we might just find ourselves in a robi to Dar es Salaam. cost model will be targeting growing the number of con- next week. Commodity prices have sweet spot. It lists free refreshments "rst-time !yers who cur- sumers who can access the on board, up to two bags rently travel by road, due to convenience of affordable Readers are advised that this column represents Mr Satchu’s personal opinion. free in the hold and free the prohibitively high fares air travel,” he said..
Load more

Recommended publications
  • Fastjet Plc ("Fastjet" Or the “Company”) (AIM: FJET) Interim Results for The
    fastjet Plc ("fastjet" or the “Company”) (AIM: FJET) Interim Results for the six months to 30 June 2018 fastjet, the African value airline for everyone, announces its unaudited Interim Results for the six months to 30 June 2018, together with strategic and operational developments to date in 2018. The table below shows the financial performance highlights of the fastjet Group for the period to 30 June 2018. H1 2018 H1 2017 US$ US$ Revenue 30.1m 21.2m Operating loss (14.6)m (13.2)m Loss per share (HEPS) (0.03) (0.04) Highlights • Revenue growth is driven by capacity and fleet increases year on year following Stabilisation Plan adjustments initiated in 2017; • Successful capital raise of $10m in July 2018 to fund working capital for current operational period; • Recent changes in the competitive landscape in Tanzania have caused the Board to evaluate fastjet’s Tanzanian operations and the consequential financial impact of continued losses in this operation, which could include ceasing operations in country; • The Directors are still encouraged by trading in the Zimbabwean and Mozambique markets, but the headroom of freely usable and available cash resources is minimal and the company’s ability to continue as a going concern remains very sensitive to its future funding requirements; and • Additional funding will be required by the end of October to enable fastjet to continue operating; The Company is currently in active discussions with its major shareholders regarding a potential equity fundraising, in the absence of which the Group is not able to continue trading as a going concern.
    [Show full text]
  • Fastjet Plc ("Fastjet" Or the “Company”) 26Th June 2014
    fastjet plc ("fastjet" or the “Company”) 26th June 2014 Final Results for the year ended 31 December 2013 fastjet, the low cost African airline, announces its audited final results for the year ended 31 December 2013 and operational highlights of 2014 to date. Operational Highlights • Establishment of the low cost carrier model in Africa • Solid growth of domestic routes in Tanzania • Launch of first international route between Tanzania and South Africa • Restructuring of the legacy Fly 540 businesses initiated Financial Highlights • Group revenue increased by 154% from $21.0 million to $53.4 million of which $26.0 million is attributable to Tanzania in 2013 • Operating loss before exceptionals of $47.6 million of which $21.9m is attributable to Tanzania • Average load factor for the year of 72% • Average 2013 revenue per passenger rose from $46.30 to $95.20; average revenue per passenger for the year of $71.10 2014 Operational Highlights • Disposal of Fly540 Kenya • Second international route launched between Tanzania and Zambia; launch of third route from Tanzania to Zimbabwe imminent • Launch of new domestic route in Tanzania; capacity increase on existing routes • Board strengthened by new appointments • Successful Placing and Open Offer . Ed Winter, Chief Executive commented “2013 was a very significant year for fastjet with the Company proving the low cost airline model in Tanzania works. In the first half of 2014 we have built upon that foundation and continued to grow, moving towards our vision of becoming a true pan African low cost airline.” “Our recent succesful fundraise moves us even closer to that goal, and I am delighted with the encouraging response we received from the market generally, and fastjet shareholders specifically, demonstrating support for our strategy and vision.
    [Show full text]
  • Regulamentos
    6.2.2014 PT Jornal Oficial da União Europeia L 37/1 II (Atos não legislativos) REGULAMENTOS o REGULAMENTO (UE) N. 100/2014 DA COMISSÃO de 5 de fevereiro de 2014 o que altera o Regulamento (CE) n. 748/2009, relativo à lista de operadores de aeronaves que realizaram uma das atividades de aviação enumeradas no anexo I da Diretiva 2003/87/CE do Parlamento Europeu e do Conselho em ou após 1 de janeiro de 2006, inclusive, com indicação do Estado-Membro responsável em relação a cada operador de aeronave (Texto relevante para efeitos do EEE) A COMISSÃO EUROPEIA, (3) Esta lista destina-se a reduzir os encargos administrativos dos operadores de aeronaves, prestando informações so­ bre o Estado-Membro a cuja regulamentação está subor­ dinado um operador específico. Tendo em conta o Tratado sobre o Funcionamento da União Europeia, (4) A inclusão de um operador de aeronaves no regime de comércio de licenças de emissão da União depende da Tendo em conta a Diretiva 2003/87/CE do Parlamento Europeu realização de uma das atividades de aviação enumeradas e do Conselho, de 13 de outubro de 2003, relativa à criação de no anexo I da Diretiva 2003/87/CE e não da inclusão na um regime de comércio de licenças de emissão de gases com lista de operadores de aeronaves estabelecida pela Comis­ o o efeito de estufa na Comunidade e que altera a Diretiva são com base no artigo 18. -A, n. 3, da mesma diretiva. o 96/61/CE ( 1 ) do Conselho, nomeadamente o artigo 18.
    [Show full text]
  • Nr. 23/770 10.4.2014 EES-Viðbætir
    Nr. 23/770 EES-viðbætir við Stjórnartíðindi Evrópusambandsins 10.4.2014 REGLUGERÐ FRAMKVÆMDASTJÓRNARINNAR (ESB) nr. 100/2014 2014/EES/23/53 frá 5. febrúar 2014 um breytingu á reglugerð (EB) nr. 748/2009 um skrána yfir umráðendur loftfara sem stunduðu flugstarfsemi sem tilgreind er í I. viðauka við tilskipun Evrópuþingsins og ráðsins 2003/87/EB, 1. janúar 2006 eða eftir þann dag þar sem ábyrgðarríki hvers umráðanda loftfars er tilgreint (*) FRAMKVÆMDASTJÓRN EVRÓPUSAMBANDSINS 3) Tilgangurinn með skránni er að draga úr stjórnsýslubyrði HEFUR, hjá umráðendum loftfara með því að leggja fram upplýsingar um það hvaða aðildarríki bera ábyrgð á tilteknum umráðanda loftfars. með hliðsjón af sáttmálanum um starfshætti Evrópusam- bandsins, 4) Innfærsla umráðanda loftfars í kerfi Sambandsins fyrir viðskipti með losunarheimildir er háð starfrækslu flugstarfsemi eins og tilgreint er í I. viðauka við tilskipun 2003/87/EB og er ekki háð innfærslu í skrána yfir umráðendur loftfara sem framkvæmdastjórnin tók saman með hliðsjón af tilskipun Evrópuþingsins og ráðsins á grundvelli 3. mgr. 18.gr. a. í þeirri tilskipun. 2003/87/EB frá 13. október 2003 um að koma á fót kerfi fyrir viðskipti með heimildir til losunar gróðurhúsalofttegunda innan Bandalagsins og um breytingu á tilskipun ráðsins 96/61/EB (1), einkum b-lið 3. mgr. 18. gr. a, 5) Við samantekt á uppfærðri skrá yfir umráðendur loftfara til að hún tæki til umráðenda loftfara sem stunduðu flugstarfsemi, sem tilgreind er í I. viðauka við tilskipun 2003/87/EB, á árinu 2013 var tekið tillit til yfirlýsinga um flugflotaskrár sem framkvæmdastjórnin og að teknu tilliti til eftirfarandi: fékk frá umráðendum loftfara og þjónustufyrirtækjum.
    [Show full text]
  • Investigation Into Passenger Volumes and Financial Performance of the Low-Cost Carriers in the Southern African Development Community Region
    Investigation into passenger volumes and financial performance of the low-cost carriers in the Southern African Development Community region Michael E. Mononga University of Westminster January 2020 A dissertation submitted to the University of Westminster in partial fulfilment of the requirements of the degree of Masters of Science, Air Transport Planning and Management Left blank i Abstract Since the emergence of the first low cost carrier (LCC) back in 2002 on the African continent in the South African Development Community (SADC) region, LCC activity has been moderate. Compared to LCC activity, from other parts of the world, such as Europe, North America and South East Asia, LCC activity has increased to the extent it the market has neared maturity and has made a huge impact to the passenger market. As for Africa, industry experts still consider that the air transport market is yet to experience further growth, as, as of 2017, Africa only represented 2.2% of the global market share according to a report on passenger demand and load factors by the International Air Transport Association (IATA). The main objective of this research is to investigate passenger volumes and financial performance of the LCCs in the Southern African Development Community region. The existing literature for the LCC market has resulted in limited knowledge about the impact to the passenger market for this specific business model at regional economic bloc level. Analysis of secondary data; passenger traffic volumes, seat capacity and load factors and airline case studies were conducted to identify growth in passenger volumes from 2000 to 2017, and financial performance of two airlines against industry global levels.
    [Show full text]
  • Annual Report 2019.Pdf
    Annual Report & Accounts 2019 fastjet Plc and its subsidiary undertakings 1 Annual Report and Financial Statements for the year ended 31 December 2019 Strategic Report Contents Strategic Report .................................................................................................................. 2 About fastjet Group ................................................................................................................................. 2 fastjet’s Vision .......................................................................................................................................... 5 Our Corporate Culture.……………………………………………………………………………………………………………….…......5 Our Awards……………….……………………………………………………………………………………………………………….…......6 fastjet Zimbabwe Route Network ........................................................................................................... 6 FedAir Route Network...…………………………………………………….……………………………………………………………….7 Chairman’s Statement ............................................................................................................................. 8 Chief Executive Officer’s Statement ................................................................................................................ 10 Section 172 Statement .......................................................................................................................... 15 Chief Financial Officer’s Statement .......................................................................................................
    [Show full text]
  • Tanzania Country Profile Report
    i | P a g e TABLE OF CONTENTS TABLE OF CONTENTS ........................................................................................................ i LIST OF TABLES ................................................................................................................. v LIST OF FIGURES .............................................................................................................. vi COUNTRY FACT SHEET ................................................................................................... vii LIST OF ACRONYMS ....................................................................................................... viii EXECUTIVE SUMMARY ...................................................................................................... x 1. INTRODUCTION AND BACKGROUND ........................................................................ 1 1.1. Introduction ..................................................................................................................................... 1 1.2. Background ..................................................................................................................................... 1 1.3. Objectives of the Report ............................................................................................................ 2 1.4. Methodology ................................................................................................................................... 2 1.5. Structure of the Report ..............................................................................................................
    [Show full text]
  • 135 Salient Attributes on The
    Business Management Review Vol. 22, No.2 Open Access article distributed in terms of the Creative Commons Attribution License [CC BY 4.0] (http://creativecommons.org/licenses/by/4.0) SALIENT ATTRIBUTES ON THE CHOICE OF AN AIRLINE SERVICE PROVIDER: A Case of Domestic Airlines in Tanzania Omari K. Mbura1 ABSTRACT This paper reports the findings of a study that assessed the attributes influencing customers’ choice of airline on domestic routes. Its 4 predictor variables were service quality, price, image and airline schedules. A structured questionnaire was administered with 120 airline passengers at Julius Nyerere International Airport (JNIA). Quantitative data have been analysed with the help of the Statistical Package for Social Sciences (SPSS) version 22 and presented as descriptive statistics. Moreover, the study carried out regression analysis to ascertain the strength of the relationship between the four constructs and the choice of an airline service provider in the domestic market. The study found that airline schedules, price and airline image significantly influenced the customers’ choice of an airline. Service quality attributes, on the other hand, did not seem to have significant bearing on airline choice. Thus, the paper recommends that airline firms should focus on providing convenient schedules in their service provision. Moreover, fares should be set at considerably fair rates as the majority of the clients are price-sensitive. Furthermore, there is a need to foster good and positive airline image. Key words: Service quality, Airline schedule, price and Airline images. INTRODUCTION Technological advancements have resulted in significant developments in the airline industry which across the world serves as not only a reliable means of transportation but also acts as an enabler in achieving economic growth and development.
    [Show full text]
  • World Airliner Census 2015 WORLD AIRLINER CENSUS World Airliner Census 2015 World Airliner Census 2015
    FL IGINTERNHTAT IONAL WORLD AIRLINER CENSUS 2015 WORLD AIRLINER CENSUS WORLD AIRLINER CENSUS 2015 WORLD AIRLINER CENSUS 2015 pared to wait for equipment that they need as soon as possible, Toulouse and Seattle have been in the envious position over the past few years of enjoying robust demand for their existing aircraft MAKING IT types, even though their successors are waiting in the wings. This has not been the case in wide- bodies, where production of, for example, the A330 is tailing off as Airbus prepares to intro- COUNT duce the A330neo. Our annual snapshot of the global airliner fleet shows CLOSE TALLIES The A320 family still tops the list of most popu- deliveries of current single-aisle types are holding up, lar mainline aircraft, although it is just pipped if while the 787 has debuted in the top 10 mainline aircraft older-generation Boeing 737s are added to the tally. In total there are some 6,100 Boeing nar- rowbodies in service (not counting the 717 and earlier McDonnell Douglas variants, of which MURDO MORRISON LONDON According to Flightglobal’s latest annual air- there are 666), compared with 6,052 of the A320, DATA ANALYSIS ANTOINE FAFARD liner census – a breakdown of the world’s fleet which does not, of course, have an earlier vin- of commercial aircraft by type and operator – tage equivalent. A year ago, it looked like the irlines, it seems, cannot get enough of numbers of current-generation A320s and 737s A320 would soon overtake the 737 if old and Airbus and Boeing narrowbodies. With in service rose by 7.9% and 9.1%, respectively.
    [Show full text]
  • Nr. 23/500 10.4.2014 EES-Viðbætir
    Nr. 23/500 EES-viðbætir við Stjórnartíðindi Evrópusambandsins 10.4.2014 REGLUGERÐ FRAMKVÆMDASTJÓRNARINNAR (ESB) nr. 815/2013 2014/EES/23/50 frá 27. ágúst 2013 um breytingu á reglugerð (EB) nr. 748/2009 um skrána yfir umráðendur loftfara sem stunduðu flugstarfsemi sem tilgreind er í I. viðauka við tilskipun Evrópuþingsins og ráðsins 2003/87/EB, 1. janúar 2006 eða eftir þann dag þar sem ábyrgðarríki hvers umráðanda loftfars er tilgreint með tilliti til aðildar Króatíu að Evrópusambandinu (*) FRAMKVÆMDASTJÓRN EVRÓPUSAMBANDSINS 4) Innfærsla umráðanda loftfars í kerfi Sambandsins HEFUR, fyrir viðskipti með losunarheimildir er háð starfrækslu flugstarfsemi eins og tilgreint er í I. viðauka við tilskipun 2003/87/EB og er ekki háð innfærslu í skrána yfir umráðendur loftfara sem framkvæmdastjórnin tók saman á grundvelli 3. mgr. 18.gr. a. í þeirri tilskipun. með hliðsjón af sáttmálanum um starfshætti Evrópusam- bandsins, með hliðsjón af tilskipun Evrópuþingsins og ráðsins 5) Aðild Króatíu að Evrópusambandinu 1. júlí 2013 og 2003/87/EB frá 13. október 2003 um að koma á fót kerfi fyrir viðmiðanirnar sem settar eru skv. 1. mgr. 18.gr. a í viðskipti með heimildir til losunar gróðurhúsalofttegunda tilskipun 2003/87/EB til að ákvarða ábyrgðaraðildarríki innan Bandalagsins og um breytingu á tilskipun ráðsins umráðanda loftfars fela í sér að tilteknir umráðendur 96/61/EB (1), einkum b-lið 3. mgr. 18. gr. a, loftfara ættu að heyra undir ábyrgð Króatíu. og að teknu tilliti til eftirfarandi: 6) Því ber að breyta reglugerð (EB) nr. 748/2009 til samræmis við það. 1) Tilskipun Evrópuþingsins og ráðsins 2008/101/EB (2) breytti tilskipun 2003/87/EB þannig að kerfið fyrir viðskipti með heimildir til losunar gróðurhúsalofttegunda innan Evrópusambandsins taki til flugstarfsemi.
    [Show full text]
  • Fastjet-Inflight-Magazine-March2013.Pdf
    Your free in-fl ight magazine Issue 02 March 2013 - May 2013 travelsmart Smart Thinking Smart Shopping Smart Travel PRODUCT REVIEW Is Apple’s eye-catching tablet worth the extra money? © Apple Inc. ANGEL EATON Angel’s driving ambition to inspire young sportswomen MAFIA CONNECTION This sleepy Swahili paradise has got it all BIG BROTHER AFRICA A force for good Taking off across Africa Transforming African travel COMORES FOOTBALL Soccer brothers with stars in their eyes travelsmart IN THIS ISSUE Contents Issue 02 March 2013 - May 2013 REGULAR FEATURES SPECIAL FEATURES 8 3 WELCOME 8 BIG BROTHER AFRICA A message from fastjet Chief Executive A force for good in Africa 6 FASTJET NEWS 12 ANGEL EATON Angel’s driving ambition to inspire young 21 FOOD FOR THOUGHT sportswomen A magical voyage of gastronomic discovery 16 COMORES FOOTBALL 23 PRODUCT REVIEW Soccer brothers with stars in their eyes 12 Is Apple’s eye-catching tablet worth the extra money? 18 MAFIA CONNECTION This sleepy Swahili paradise has got it all 24 LATEST RELEASES What’s new in your bookshop and cinema 26 NGAMBA CHIMPS Island sanctuary for chimps is an 29 KIDS’ CORNER unforgettable trip 30 A319 32 CITY GUIDE fastjet’s workhorse aircraft Prepare to be enthralled by modern, magical Johannesburg 34 TURNING JAPANESE What a diff erence a makeover can make… USEFUL INFORMATION 37 THE FASTJET NETWORK 38 TRAVEL INFORMATION 40 FASTJET FLEET 40 FASTJET CONTACTS 18 travelsmart Smart Thinking Smart Shopping Smart Travel Published by on behalf of LanD & MarIne PUBLIcaTIOnS LTD 26 1 Kings Court, Newcomen Way Severalls Business Park, Colchester Essex CO4 9RA, United Kingdom Tel: +44 (0)1206 752902, Fax: +44 (0)1206 842958 Registered Offi ce and Head Offi ce Email: [email protected] Suite 2C, First Point, Buckingham Gate www.landmarine.com Gatwick Airport, RH6 0NT Telephone: 020 3651 6355 Email: [email protected] The opinions expressed in this publication are not www.fastjet.com necessarily those of the editor, or any other organisation associated with this publication.
    [Show full text]
  • Annual Report & Financial Statements
    240152 fastjet Plc AR Cover spread 02/06/2016 16:21 Page 1 ANNUAL REPORT & FINANCIAL STATEMENTS for the year ended 31st December 2015 fastjet Plc Perivan Financial Print 240152 fastjet Plc and its subsidiary undertakings 1 Financial statements for the year ended 31 December 2015 Contents Strategic Report 2 fastjet’s route network 2 Chairman’s Statement 3 fastjet’s vision 6 fastjet’s business model 6 Operational Review 9 Principal risks and uncertainties 11 Financial Review 17 Directors’ Report 21 Board of Directors 21 Report of the Directors 22 Statement of Directors’ responsibilities 29 Independent auditor’s report 30 Financial Statements 32 Consolidated income statement 32 Consolidated statement of comprehensive income 33 Consolidated balance sheet 34 Consolidated cash flow statement 35 Consolidated statement of changes in equity 36 Notes to the Group financial statements 37 Parent Company Balance Sheet 71 Notes to the Parent Company financial statements 74 Other Information 87 Glossary of Key Terms 87 Company Details and Advisors 88 fastjet Plc and its subsidiary undertakings 2 Financial statements for the year ended 31 December 2015 Strategic Report At the 23rd World Travel Awards in Zanzibar on 9 April 2016 fastjet was named Africa’s Leading Low- Cost Airline 2016 fastjet route network fastjet Plc and its subsidiary undertakings 3 Financial statements for the year ended 31 December 2015 Strategic Report 2015 – a year of change and challenge Chairman’s Statement 2015 was a year of change and challenge for the Company. While some significant successes and progress were made on achieving our vision to become the first truly pan-African low cost airline, challenging market conditions and poor financial performance overshadowed this.
    [Show full text]