fastjet moves closer to South African launch

fastjet (LON:FJET) and its partner have taken a step closer to launching a low cost service in South Africa later this month by leasing an aircraft for the Johannesburg and Cape Town route.

It and partner Federal Air will initially “wet lease” a Boeing 737-300 from Starcargo Airlines.

Starcargo will provide the crew, maintenance and insurance and Federal Air will operate the service for fastjet holdings limited, in which the AIM-listed group has 25% stake.

The current arrangement will initially last for six months and allows fastjet to obtain permission to operate its Airbus 319 jets in South Africa.

Kyle Hayward, chief executive of fastjet holdings limited, said: "This is yet another definitive step towards the commencement of fastjet services and we remain on track for an end of May launch.

“fastjet is working hard with its South African partners to put this initial route (Johannesburg to Cape Town) on sale shortly.”