Strategic Meetings Summit London, 26 September,
September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
African no-frills carrier Fastjet is to concentrate on expanding in eastern and southern Africa after selling its Fly 540 Ghana airline.
Fastjet, which licences its name from Easyjet founder Sir Stelios Haji-Ioannou, has sold Fly 540 Ghana to DWG-G Company for the “nominal” price of $1.
The company acquired Fly 540 Ghana from Lonrho Aviation in July 2012 but the subsidiary made a loss of $11.3 million in 2014 after suspending flights in May 2014.
Fastjet CEO Ed Winter called the sale of Fly 540 Ghana a “great step forward” in its restructuring plans.
“While West Africa remains of interest to us as a low-cost market in the future, our current focus is on expanding our footprint in eastern and southern Africa,” said Winter.
“Fastjet has retained the right to discuss the introduction of the fastjet brand in west Africa when it considers the economic conditions and infrastructural environment to be more favourable.”
Fastjet, which aims to eventually become a pan-African operator, is based in Tanzania and now flies to Zambia, Zimbabwe, South Africa and Uganda.
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