Advertisement

fastjet gets off to a flying start

African low-cost airline fastjet carried more than 900 paying passengers of its first day of commercial flight operations yesterday, achieving an average booked load factor (a measure of how full planes are) each of 78 per cent.

African low-cost airline fastjet carried more than 900 paying passengers of its first day of commercial flight operations yesterday, achieving an average booked load factor (a measure of how full planes are) each of 78 per cent.

The company said that future demand for seats on the two initial routes - from Dar es Salaam to Mwanza, and Dar es Salaam to Kilimanjaro in Tanzania - is currently "far outstripping supply".

Advertisement - Article continues below

As such, additional flights to these destinations are already being considered and fastjet wants to expand its network regional over the coming weeks as the fleet grows to three Airbus A319s.

"fastjet is delighted to see how the people of Tanzania are embracing the Low Cost Carrier model. Yesterday was a huge success and a great way to start operations," said Chief Executive Ed Winter.

"We are pleased to see reservations and bookings continuing to grow. The demand for this type of air travel has far exceeded the company's expectations. Yesterday's passengers ranged from business people through to many first time flyers who were using fastjet as an economic alternative to conventional bus transport. Clearly, as predicted, our low cost model is stimulating a whole new market of people to fly."

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?
UK Economy

Can Rishi Sunak save the economy with stamp duty cuts and half-price meal deals?

John Stepek runs his eye over the chancellor's £30bn stimulus package and asks if it's enough to get the economy back on its feet after months of lock…
9 Jul 2020
Have small companies lost their edge?
Sponsored

Have small companies lost their edge?

SPONSORED CONTENT – The tectonic plates beneath the modern investing landscape appear to have started moving in new directions
26 Jun 2020