African no-frills airline Fastjet is in discussions with investors to secure funding to allow it to expand operations in Zambia and Uganda.
The company, which operates from Tanzania, said it was hoping to secure the necessary funding by early 2015 and was in talks with “industry partners and specialist African investors”.
Easyjet founder Sir Stelios Haji-Ioannou helped to set up the airline in 2012 and is a minority shareholder in the business, which is listed on the London Stock Exchange.
Fastjet has been granted an air service permit by authorities in Zambia which will allow it to offer domestic and international flights from the country. Zambia will be the airline’s second base after the Tanzanian capital Dar es Salaam.
The company has also been given permission by Uganda’s Civil Aviation Authority to operate flights from the country to Juba in South Sudan as well as Nairobi, Kigali and Johannesburg using Tanzanian-based aircraft.
Fastjet CEO Ed Winter said: “It is pleasing to see that as a result of management focus on the regulatory framework, approvals in both Uganda and Zambia have been granted. This is a very significant step along the road to becoming a truly pan-African low-cost airline.”