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21-Sep-2016 9:06 AM

fastjet loss widens in a 'very difficult and challenging' 1H2016

fastjet revenue up 5% - financial highlights for six months ended 30-Jun-2016:

  • Revenue: USD33.1 million, +5.1% year-on-year;
  • Costs: USD64.1 million, +44.3%;
  • Operating profit (loss) from continuing activities: (USD31.0 million), compared to a loss of USD12.8 million in p-c-p;
  • Net profit (loss): (USD15.0 million), compared to a profit of USD6.4 million in p-c-p;
  • Passenger numbers: 398,593, +9.6%;
  • Load factor: 48%, -22 ppts;
  • Revenue per ASK: USD 5.06 cents, -34%;
  • Cost per ASK: USD 9.85 cents, +1%;
  • Cost per ASK excl fuel: USD 8.16 cents, -8%;
  • Aircraft utilisation: 10.1 hours, -3%. [more - original PR]

fastjet: "We continue to pursue cost-reduction and revenue-generating initiatives and to refine and develop our customer offering and low cost model. Conditions remain very challenging and there is much work to be done. But I am confident that the business is becoming more stable and that we are slowly moving towards a platform from which, in due course, fastjet will be able to consider gradual expansion opportunities and start to deliver on its undoubted potential," Nico Bezuidenhout, CEO. Source: Company statement, 20-Sep-2016.

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