Fastjet PLC Passenger Statistics and Operating Update (8461B)
12 January 2015 - 6:00PM
UK Regulatory
TIDMFJET
RNS Number : 8461B
Fastjet PLC
12 January 2015
fastjet plc
("fastjet" or the "Company")
12th January 2015
Passenger Statistics and Operating update.
fastjet achieves first profitable trading month.
December 2014 Profit
fastjet Tanzania, the group's principal operating company,
posted its first profitable trading month at an Earnings before
Interest and Tax ('EBIT') level in December as it saw strong demand
for its services during the very busy holiday season and benefited
from low fuel prices. Yield per passenger rose 20% compared to
December 2013 with total revenue for the month up 106 per cent year
on year. The contribution generated by the Tanzanian operation was
sufficient to create an underlying operating profit for the month
at the fastjet Plc group level.
December 2014 Passenger Statistics
fastjet operations in Tanzania carried a total of 65,653
passengers, a 75 percent increase compared to the same month last
year, and achieved a load factor of 76 percent, 2 percentage points
up on last year.
On Time Performance remained excellent at 89 percent.
Q1 2015
Although the first quarter is traditionally a relatively low
demand flying period, trading in the first quarter is expected to
be much improved on last year as the excellent growth trends in
both passenger numbers and yields seen in 2014 are anticipated to
continue and as the Company benefits from lower fuel costs. The
number of flights operating has been reduced to match capacity to
expected demand and reduce costs.
Fuel
The fuel price in January will provide a further 13 percent
reduction on December prices. The Company expects further
reductions in February and March as the recent falls in the price
of crude oil continue to flow through to African aviation fuel
supplies. As stated last month, fastjet does not currently
pre-purchase or 'hedge' its future fuel price. The Company pays
current market rates for its fuel and is therefore realising
substantial benefits from the reduction in the cost of crude
oil.
Although fastjet operates fuel-efficient modern Airbus 319
aircraft, fuel represents a very significant percentage of its
direct operating costs. As such, the fall in the price of oil
delivers a large direct cash benefit to the airline.
Millionth passenger
fastjet Tanzania is also celebrating the major milestone of
flying one million passengers across the African continent.
This milestone represents another significant achievement for
the low-cost airline as it is embraced into the hearts and minds of
travellers in Tanzania and further afield across East and Southern
Africa.
Commenting on December trading, Ed Winter, Interim Chairman and
Chief Executive Officer of fastjet plc, said:
"The announcement of our first profitable trading month is a
great achievement and a huge milestone on the road to becoming the
first pan-African low-cost airline. We have already proven that the
low-cost model works to stimulate traffic and we have now shown
that it can create a profitable business. The Tanzanian fleet of
three aircraft is now producing more than double the monthly
revenue compared to a year ago. This higher utilisation, combined
with higher per passenger revenues and lower fuel prices, has been
transformational for the business.
____________________________________________________________________
Month ending December 2014 December 2013 Change
Passengers (Note 1) 65,653 37,465 75%
Load Factor (Note 2) 76% 74% +2pp
Rolling 12 months ending December 2014 December2013 Change
Passengers(Note3) 597,219 365,508 63%
_________________________________________________________________________________________
Notes:
1. "Passengers" are sold seats flown, excluding infants. fastjet
bookings are generally non-refundable.
2. "Load Factor" is the number of 'passengers" as a percentage
of the number of available seats flown.
3. "on time" - arrival earlier than or within 15 minutes of
schedule
UK media - Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
Angharad Couch
Toby Moore
Nick Hayns
South African media - Tribeca Public Relations Tel: +27 (0) 11 208 5500
Cian Mac Eochaidh
Kelly Webster
For investor enquiries please contact:
W.H. Ireland Ltd. Tel: +44 (0) 20 7220 1666
James Joyce
Mark Leonard
NOTES TO EDITORS
About fastjet plc
fastjet plc is the holding company of the low cost airline
fastjet which commenced flights under the fastjet brand in Tanzania
in November 2012. The airline introduced Airbus A319s into its
fleet. By adhering to international standards of safety, quality,
security and reliability; fastjet has brought a new flying
experience to the African market at unprecedented low prices.
fastjet is implementing the low-cost model across Africa and its
long-term strategy is to become the continent's first low-cost,
pan-African airline. fastjet plc is also the holding company of
Fly540 Ghana and Angola where operations are currently suspended
pending restructuring.
The results of a recent customer satisfaction survey showed that
100% of customers were likely to recommend fastjet to a friend. In
developing its strong brand and identity, fastjet has won and been
nominated for a number of awards, including winning three Transform
awards for the rebrand and launch of fastjet and the award for
"Brand Strategy of the Year" at the recent Drum Marketing Awards in
London.
fastjet plc is quoted on the London Stock Exchange's AIM
market.
For more information see www.fastjet.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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