fastjet announced (26-Apr-2013) its South African investment partner Blockbuster changed its name to fastjet Holdings and Kyle Haywood was appointed CEO of the airline's South African operations, effective immediately. Mr Haywood was previously fastjet MD for Africa. fastjet CEO Ed Winter said, "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." [more - original PR]
fastjet appoints South Africa CEO, investment partner renamed fastjet Holdings
You may also be interested in the following articles...
European airline seat capacity growth accelerates - perhaps too quickly: Outlook for winter 2016/17
The summer 2016 season came to an end on 29-Oct-2016. Adjusting for an extra week relative to the previous summer, it produced seat growth of 6% for capacity to/from/within Europe, matching the rate of growth in summer 2015, but higher than the 10-year average rate of 4% and higher than any other summer since 2010.
Current indications from data filed with OAG are that Europe will also experience accelerating capacity growth in the winter 2016/2017 season, which runs from 30-Oct-2016 to 25-Mar-2017. Adjusting for the season being shorter by one week relative to last winter, total seat growth in Europe is set to reach 7%, compared with 6% growth in winter 2015/2016 (and 6% growth in summer 2016). This is higher than the 10-year average rate for winter of 3% and the highest winter growth since 2007/2008.
On routes to all but one region from Europe, seat growth this winter will both be faster than last winter and higher than its 10-year average. The one exception is Europe to Middle East, the fastest-growing region, where capacity growth will remain at 10%. This report presents analysis of this winter's seat growth for Europe by region and by airline group.
Jet2.com: LCC airline's summer may be cooled by new Boeings, despite parent group's profit leap
Jet2.com is more summer-biased than almost any European airline, in spite of a capacity cut last summer. This reflects its strong leisure focus and its interdependence with the tour operator Jet2holidays. In the year to Mar-2016 Jet2holidays supplied 40% of the UK LCC's passengers, up from 17% in FY2013, since when it has been responsible for all of the airline's traffic growth.
Dart Group owns and runs both Jet2.com and Jet2holidays as the single business segment Leisure Travel (95% of group operating profit). The underlying operating profit of the Leisure Travel segment more than doubled for the year to Mar-2016, reaching the highest margin since FY2009, thanks to yield growth and increased sales of higher-end package holidays.
Strong advance sales insulate Jet2.com and Jet2holidays from the impact of Brexit in the short term. Nevertheless, their strong dependence on summer leisure demand exposes them to any volatility that may result from growing geopolitical and macroeconomic risks. Moreover, an order for 30 new Boeing 737-800s marks a departure from Jet2.com's strategy of buying and operating old aircraft that are close to being fully depreciated. This may increase the pressure on the airline to deploy its assets on a more year-round basis.