fastjet's upward momentum continues
02-Sep-2013 It is case of "up, up and away" for low-cost African airline fastjet (LON:FJET), which saw passenger revenue increase month-on month in August.
Passenger revenue totalled US$2.7mln, up 5% on July's level and 51% higher than August 2012's revenue. fastjet said the increase was due to a strong performance in passenger volumes, with an 84% load factor, and a record 33,000 passengers in the month. Ancillary revenues remained strong, representing 7% of total passenger revenue, the company added.
"Operational statistics for August show continued growth, demonstrating the strength of our brand and the support we are receiving from the Tanzanian population. So far we have carried 260,000 passengers within Tanzania and with a total population of 48 million there are plenty more customers who can benefit from our services," noted Ed Winter, chairman and chief executive officer of fastjet.
The company recently announced it would launch a new domestic route in Tanzania, between Dar es Salaam and Mbeya, but the big one everyone is waiting for is the start of the service between Dar es Salaam and Johannesburg, scheduled for 27 September.
"We expect to be adding more international routes to our flying programme in the near future," Winter said.