fastjet Update on South Africa Launch
26-Apr-2013 fastjet, Africa's low-cost airline, today announces that its new South African investment partner has changed its name in South Africa from Blockbuster to fastjet Holdings (PTY) Limited.
Kyle Haywood, fastjet's Managing Director for Africa, will assume the role of CEO of the new South African operations with immediate effect. Kyle, a South African citizen, will head up the South African launch team and has over 25 years of global airline experience including service carriers, such as British Airways and Etihad Airways as well as holding a key commercial executive management role in the development of Air Arabia, the Middle East's first and most profitable low cost carrier. Prior to joining fastjet, he was CEO of Air Uganda.
fastjet Holdings, a Company headed up by South African businessmen Mr Edward Zuma and Mr Yusuf Kajee will own 75%, and London-based fastjet plc will own 25%.
The Company is now fully engaged with its partners and is working diligently to have the first tickets on sale within a few weeks. fastjet is targeting the 31 May to launch the initial Johannesburg to Cape Town route.
A commercial arrangement has been struck between fastjet Holdings and local operator Federal Air, which will allow fastjet to leverage Federal Air's existing licensing infrastructure and deliver its proven low-cost airline model to the South African public.
Commenting on the announcement, fastjet Chief Executive Ed Winter said:
"I am really pleased that we have Kyle overseeing this exciting project given his vast aviation experience. There is a strategic gap in the South African market for a pan-continental, high quality, low-cost airline and we look forward to bridging that gap and bringing fastjet to the South African public. This marks an exciting chapter in fastjet's history and an important step in its growth strategy."