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New African budget airline Fastjet will absorb Fly540

June 21, 2012 By Budget Airline News

New details have emerged about FastJet, a proposed low-cost airline that will serve Africa.

FastJet, which is backed by Sir Stelios Haji-Ioannou of EasyJet fame, will initially acquire the African airline Fly540 and restructure it as a low-cost carrier.

An statement from Rubicon, the British investment firm that has purchased Fly540, read: “The combined talents of Rubicon’s management team and our partners from Lonrho and Sir Stelios’ easyGroup will transform Fly540, already a growing and successful business, into Fastjet, a low cost, point-to-point, no frills all jet airline for Africa.”

FastJet will serve Kenya, Tanzania, Ghana, and Angola with a one-way flight between two countries expected to be around $70-80. These countries have a combined population over 100 million, and Fastjet aims to carry more than 12 million passengers per year by providing affordable fares to middle-class families.

While FastJet is still in early stages of development, they hope to be flying by the end of 2012.

The official statement continued: “Plans for the launch of ‘Fastjet’ are underway but not yet finalised and the introduction of an appropriate fleet of modern jet aircraft may require the raising of additional funding”.

Filed Under: Africa Tagged With: FastJet, Fly540

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