FASTJET NOVEMBER 2014 PASSENGER STATISTICS AND OPERATIONAL UPDATE

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.

Commenting on the above, Ed Winter, Interim Chairman and Chief Executive Officer of fastjet plc, 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.”

Month ending	November 2014	November 2013	Change
PassengersNote 1	63,146	33,320	90%
Load FactorNote 2	77%	72%	+5pp
Rolling 12 months ending	November 2014	November 2013	Change
PassengersNote 1	569,031	357,602	59%

Notes:

1.    "Passengers" are sold seats flown, excluding infants.  Fastjet bookings are generally non-refundable.

2.    "Load Factor" is the number of 'passengers" as a percentage of the number of available seats flown. 

3.    "on time" - arrival earlier than or within 15 minutes of schedule

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