Fastjet

Fastjet Plc (LSE:FJET) is a British-based holding company for a group of low-cost carriers that are, or are expected to be, operating in Africa. The company's stated aim is to become the continent's first low-cost, pan-African airline, and the operation was initially created with the acquisition of Fly540, an airline operating in East Africa; flights in Fastjet's own name commenced in November 2012 in Tanzania. In order to satisfy local ownership and other requirements, the current strategy is to create locally incorporated airlines to operate services using a common branding, operational standards and sales platform.

The initial operation is now run as Fastjet Tanzania. Fastjet Zimbabwe commenced flights in October 2015, and Fastjet Zambia is at an advanced planning stage.

History

Initial proposals

While originally thought to be competing with easyJet, it was later claimed by The Daily Telegraph that Fastjet was planned to be a transatlantic long-haul airline.

It was eventually revealed that Fastjet was a proposed low-cost African airline, and that an agreement had been signed with Rubicon Investments.