FJET got lucky with the oil price drops, oddly Ed Winter thinks the oil price will drop but David Lenigas thinks the oil price will recover, however he's in a corner being a oil producer and ex-FJET man.
Any recover in oil prices will upset the current profit.
Yesterday's good news will bring more funding so keep your eyes open for a RNS
and going places as it says" posted its first profitable trading month at an Earnings before Interest and Tax ('EBIT') level in December "
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...............
LONDON (ShareCast) - African low-cost airline Fastjet has taken one step closer to launching operations in Zambia after receiving approval from authorities on the first phase of its application for an air operation certificate (AOC).
The company, which already serves the Tanzanian market, said that it hoped Zambia will become the second base from which is plans to fly to various destinations across east and southern Africa.
The Zambian Civil Aviation Authority, after signing-off on phase one of the AOC process, will now look at Fastjet Zambia's planned company structure, evaluate its Airbus aircraft and approve fastjet Zambia's operational plan.
"The process to obtain permission to operate in Zambia is proceeding extremely well," said Ed Winter, Fastjet's interim chairman and chief executive.
Fastjet is hoping to tap into the Zambian market where prices on regional routes are currently very high, especially in places where a monopoly operator controls the route.
The company said it is "confident that its low-cost model will stimulate the market".
So having sucked millions out of PI's, FJET now intend to dilute their holding in FJET Tanzania AND go for further fundraising. PI's who though they were investing in an airline will soon be invested in a management company with marginal percentage holdings in each regional hub - disgraceful! The BOD have no regard for PI's. Can't see this dog ever turning a corner.
There will need to be quite a large fund raising looking at the Balance Sheet and potential losses for the second half. Also it is almost bound to be accompanied by a massive consolidation 100/1 perhaps.
Bloomberg and The Independent obviously just copy and pasting without any research on their part. Fastloss cannot even keep three aircraft going, just imagine the misery, chaos and confusion they could inflict on Africa if they had ten aircraft to play with! Doesn't bear thinking about really.
I have fought the good fight and was a believer but what on earth is going on! All first-mover advantage lost. Shockingly poor and naive management!. All the hard won customers being lost due to cancellations and poor service. Final nail will be refusal of kenya operations! Totally numb!
If this is an example of your 'good' feedback, I would hate to see bad Noocyt2.
Can be seen here but I guess Fastjet will remove it pretty quickly - https://www.facebook.com/fastjet/app_523229307744043
Flight canceled 3 times
I have been struggling to fly my family to Tanzania to visit me for the last week, they were suppose to fly 24th then 27, the 29 and flights just keep beeing canceled, i have paid deposits for hotels and now will loose it because of bad fastjet flights, dont you guys know all us expats talk and we know who to fly with and not to fly with...dont worry the expats only account for a few thousand tickets a year....
Horrendous Fastjet Service
When you book fastjet you better have a good plan B Expect surprises at every corner so its a gamble to get where you are supposed to get as planned. Do not bank on fastjet on an important travel trip because you will curse yourself all the way. Fastjet has left me in the cold a few times than once because they do not take care of you or give you any positive options when they messy you up. If there was an authority which ensures that customers get quality of service like in Telecoms, The authority would better of withdraw fastjet flying license due to poor service. One wonders that if they can compromise so much on customer care. How are they likely to compromise on safety. So fly fastjet at your own peril
DISGUSTING SERVICE AND CUSTOMER CARE
Fastjet Africa are absolutely useless they are on their way out it seems just like onetime and other budget airlines!!!!!!! they have just cancelled approximately 5 flights from Johannesburg and Dar due to what they call technical reasons ...they obviously only have one airplane. the clients were notified by SMS and Email with the offer to fly on the 27 September 3 days after their original booking or claim a refund!!!!!! no offer to book them on an alternative carrier or no thought of the clients transfer flights from Dar to elsewhere and or hotel bookings and or the costs involved to the client ....... please ALL BE AWARE OF PISS POOR SERVICE AND LACK OF CUSTOMER SERVICE FROM THIS CROWD. THEY ARE THE BEST ADVERT FOR ALL THEIR COMPETITION HERE !!!!!!!!!! last time we recommend and or use FASTJET >>>>>>>>>
the flight got delayed and no one notified us. then they kept us waiting for more than 7 hours and plus refused to give us any refreshments. I wonder in whose pocket have all those 5dollars refreshment vouchers gone to because none of us got ours.
I e-mailed [email protected] this morning and a reply within an hour -
Thanks you for your email.
The fastjet flights on Dar es Salaam Johannesburg route will resume from next Wednesday 1st October.
From: Sent: 26 September 2014 09:39 AM
To: Justin Glanville
Can you tell me when the SA flights will resume please as I am looking to book my flights soon.
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