Lonrho PLC fastjet Unveils New Brand (3198Q)
November 05 2012 - 6:00AM
UK Regulatory
TIDMLONR
RNS Number : 3198Q
Lonrho PLC
05 November 2012
5 November 2012
Lonrho Plc
Lonrho is pleased to announce that fastjet Plc ("fastjet" or the
"Company"), the AIM listed African airline in which Lonrho owns
67.4% has today made the following announcement:
fastjet Ready to Launch with New Brand
and Responds to Newspaper Report
fastjet, Africa's first pan African low cost carrier, today
unveils its new brand and announces it will begin selling tickets
next week ahead of the airline's first flight this month.
The new branding, which replaces the existing placeholder logo,
features the well-known African Grey Parrot which was carefully
selected following in-depth market research in Africa and reflects
the Company's mission, values and target audience.
Commenting on the new branding, fastjet Chief Executive Ed
Winter said:
"The African Grey is renowned for its intelligence and is
therefore a perfect personification of fastjet's motto; smart
travel. We are delighted to be unveiling this new branding today,
which better reflects our individual corporate identity and speaks
to our key audiences.
"We hope that our friendly new mascot and logo will soon become
universally recognised as symbols of reliability, efficiency and
safety."
The airline now has three Airbus A319s as part of its fleet. All
three aircraft are in the process of being painted with the fastjet
livery before being dispatched to Tanzania ready for the
launch.
The airline's new web site www.fastjet.com will launch next week
providing information on routes and fare schedules. The site will
soon allow tickets to be bought using credit/debit cards as well as
mobile phone technology that debits the users phone accounts.
Additionally, tickets will be sold through travel agents and
fastjet's own sales desk, call centre and offices throughout East
Africa. Tickets will be available from as low as $20 one-way
excluding taxes and charges.
fastjet Chairman David Lenigas added:
"We are excited that the launch is now imminent and that fastjet
will be turning from a concept into a reality.
"A recent story emanating from East Africa and picked up by the
Daily Telegraph contained material inaccuracies regarding disputes
with two Fly540 (Kenya) suppliers. Whilst we are not able to
comment directly on these specific cases, we can confirm that the
amounts in dispute are not deemed material, and that we will
vigorously defend the company's interests as these cases progress.
Our shareholders would expect us only to settle invoices that are
accurate and appropriate.
"The launch of fastjet has generated enormous interest in East
Africa and we are delighted with the strong partnerships being
forged with suppliers and Governments across the region.
"Our announced launch and growth plans remain firmly on
track."
ENDS
Enquiries:
Lonrho Plc +44 (0) 20 7016 5105
Geoffrey White
David Armstrong
FTI Consulting +44 (0) 20 7831 3113
Edward Westropp
Georgina Bonham
Jefferies Hoare Govett +44 (0) 20 7029 8000
Sara Hale
Harry Nicholas
Simon Brown
NOTES TO EDITORS
About fastjet Plc
fastjet Plc is the holding company for African airline Fly540,
which operates from four bases in Kenya, Tanzania, Ghana and
Angola. Fly540 currently has 10 aircraft serving around 25 domestic
and regional destinations, carrying approximately 750,000
passengers per year with a strong emphasis on safety, security and
reliability.
Following a consultancy assignment by easyJet founder Sir
Stelios Haji-Ioannou's easyGroup focused on determining the
feasibility of launching a European-style low-cost carrier in
Africa, we are now preparing for the launch of fastjet, Africa's
first low-cost carrier, flying a modern fleet of jet aircraft based
on the Fly540 platform of licences and routes. First flights under
the fastjet brand are expected to take place late November,
bringing an entirely new flying experience to the African
market.
fastjet Plc is quoted on the London Stock Exchange's AIM market.
For more information see www.fastjet.com
Significant African Aviation Market Potential
Africa is a growth aviation market with regional and
intercontinental traffic both growing rapidly as a result of the
continent's continued economic expansion. With over one billion
people, Africa is hampered by poor infrastructure, a lack of roads
and railways and long distances between urban populations. The
African aviation market is significantly underserved with air
travel spending as a percentage of GDP a fraction of that of other
emerging markets. With rapid economic growth and, as a result, the
growing wealth of African citizens, more and more people will be
able to benefit from aviation and fly for the first time. Airbus
forecasts total passenger traffic in Africa will grow at an average
yearly rate of 5.7% between 2010 and 2030, well above the 4.8 per
cent world average growth rate and expects to deliver more than
1,100 new passenger aircraft, 4% of world deliveries, in the next
20 years to satisfy growing demand. Seven of the top 10 fastest
growing global economies are now in Africa with consumer spending
for the continent forecast to reach US$1.6 trillion by 2020. A
recent McKinsey report (June 2010) forecast that 128 million
households in Africa are expected to have discretionary income to
spend by 2020, while 50% of Africans are expected to live in cities
by the same date with urban jobs bringing rising incomes. The
McKinsey report concluded that today the rate of return on foreign
investment in Africa is higher than in any other developing region
and that early entry into African economies provides opportunities
to create markets, establish brands, shape.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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