Fastjet Announces Fly540 Restructuring Details

African low-cost airline Fastjet has announced details of the restructuring of its two legacy Fly540 businesses. As a result two ATR aircraft, previously operated in Ghana and Angola, have been taken out of service and will be sold. The company's services to Angola have been temporarily suspended, pending the return to service of two leased aircraft following maintenance. A leased aircraft continues to operate in Ghana. Fastjet will instead focus on the "considerable potential" of East and Southern Africa. Fastjet's interim chairman and CEO, Ed Winter, said: "Management has been carefully considering how best to restructure the Fly540 business which we inherited, and this is a highly significant and very positive development in that process. We are currently focused on expanding the low-cost Fastjet network in East and Southern Africa by establishing bases in Zambia, Kenya and South Africa and these plans are progressing well. However, our overall vision is to create a pan-African low-cost network and, as such, launching the low-cost Fastjet model in both Angola and Ghana remains firmly part of the company's long-term plans."

TAGS: Africa
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