in Business & Finance

fastjet November passenger statistics and operational update

Posted 2 December 2014 · Add Comment

In November, fastjet operations in Tanzania carried a total of 63,146 passengers, a 90 per cent increase compared to the same month last year, and achieved a load factor of 77 per cent. The Company's On Time Performance remains excellent at 91 per cent.

December forward sales 

fastjet reports a very positive forward sales position for December with a 99 per cent increase in current ticketed sales and a 30 per cent  jump in average yield versus December 2013. To meet high season demand, fastjet has adjusted the December flying programme to allow for the operation of additional flights on certain routes, maximising revenue opportunities for the month. These extra flights are selling well.

Fuel 

fastjet is also pleased to provide an update on the impact of the recent reduction in oil prices on its business. 

fastjet does not currently pre-purchase or ‘hedge’ its future fuel price. The Company pays current market rates for its fuel and is therefore realising substantial benefits from the reduction in the cost of crude oil. 

Although fastjet operates fuel-efficient modern Airbus 319 aircraft, fuel represents a very significant percentage of its direct operating costs. As such, the fall in the price of oil delivers a large direct cash benefit to the airline. 

The airline procures its fuel via a central buying platform that consolidates the requirements of a significant number of small airlines across Africa. This ‘group purchase’ plan provides both economies of scale not usually enjoyed by an airline of fastjet’s size, and unencumbered access to fuel across the continent. 

Ed Winter, interim chairman and chief executive officer of fastjet, said, “We are very pleased with our trading position in Tanzania. November results are strong as we maximise our market leading position in the country. December is a critical month and the early signs are very positive.“With fuel representing around 40% of our operating costs and oil prices forecast to remain at these low levels through early 2015, fastjet is directly benefitting from the reduced oil price.”

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

MOMook to make 43 Air School training operations more efficient

MOMook, an intelligent business and training management software developer, and 43 Air School, the largest aviation training provider in South Africa, have signed a contract on the use of MOMook software for management of pilot

AJW Group announces Tom De Geytere as chief sales officer

AJW Group has announced the promotion of Tom De Geytere to Chief Sales Officer to support its fast-growing business.

Global airport industry climate action surpasses 200 airports

At this year's ACI World & Africa Annual General Assembly (WAGA) hosted by Airports of Mauritius Co, the global airport industry issued an update on the progress it has been making in addressing its CO2 emissions, through the independent

SAA major board shake-up as chair replaced

South African Airways is undergoing a major board reshuffle today.

ACI World appoints new Chair and Vice Chair at Annual Assembly in Mauritius

Airports Council International's (ACI) Chair Declan Collier, Chief Executive Officer (CEO), London City Airports, turned over the Chair position of the ACI World Governing Board to Bongani Maseko, CEO and Executive Director,

Rolls-Royce Trent 7000 powers Airbus A330neo first flight test

The Rolls-Royce Trent 7000, the latest member of the Trent family of engines, has successfully powered the new Airbus A330neo into the skies for its first test flight today.

AfBAC Expo SK2017
See us at
AIMA Africa 2017Global Aerospace BT28218AfBAC Expo BT2017Aviation Africa BT18418