Hre, Dar flights a success: fastjet

HARARE - Budget airline fastjet says its recently launched Dar es Salaam to Harare flights are performing very well.

Ed Winter, the company’s chief executive and interim chairperson, said although the route — including others to Lusaka and Entebhe from Dar es Salaam — is in its infancy, “there is every indication that these will develop into valuable routes for the fastjet Tanzania pan-African network.”

“Additional services from our Tanzanian base in Dar es Salaam to Lusaka, Harare and Entebbe, linking these land-locked countries to the port of Dar es Salaam, have proven successful and are performing well,” he said.

fastjet has announced its unaudited interim results for the six months ended June 30, 2014 and operational highlights of 2014 to date.

Tanzania’s first-half revenues grew 96 percent to $19 million, with a 41,5 percent increase in passenger numbers.

Tanzanian average revenue per passenger for the period grew 39,3 percent to $81.65.

There was a first-half underlying earnings before interest and tax (Ebit) loss of $30,5 million, including $13,9 million trading losses in the Tanzanian operation.

Fly540 Ghana and Angola had a $13,5 million adverse effect on the first half financial results of which $6,4 million related to a foreign exchange                        revaluation adjustment of US dollar liabilities.

During the period under review, less than $100 000 of fastjet cash was utilised in legacy Fly540 operations.

Flights have been successfully launched from Dar es Salaam in Tanzania to Lusaka in Zambia in February 2014, from Dar es Salaam to Harare in

Zimbabwe in August 2014 and from Dar es Salaam to Entebbe in Uganda in September 2014.

Fly540 Ghana and Fly540 Angola loss-making services remain suspended, with restructuring activity underway.

The group disposed of its investment in Five Forty Aviation Limited in Kenya in June 2014.

A variety of additional revenue streams were added to the business mix during the period — including car rentals, hotels and car parking.

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