African budget carrier Fastjet has confirmed it has temporarily
suspended operations in Angola as part of a major restructuring program
aimed at turning around its loss-making Fly540 businesses there and in Ghana.
Currently,
the Ghana and Angola businesses operate on a legacy airline model.
Fastjet believes that—although both countries present significant
long-term opportunities for its low-cost model—the optimum short-term
potential is exploiting growth opportunities in East and Southern
Africa.
As part of the
restructuring, two group-owned ATR aircraft, previously operating in
Ghana and Angola, have been taken out of service and are in the process
of being sold. A leased aircraft continues to operate in Ghana, and the
Angolan operation will resume when two further leased aircraft return to
service upon completion of required maintenance. Fastjet said it would
release further details on the restructuring of both Fly540 operations
in due course.
Fastjet interim chairman and CEO Ed Winter said: “Management has been carefully considering how best to restructure the Fly540 business, which we inherited,
and this is a highly significant and very positive development in that
process. We are currently focused on expanding the low-cost Fastjet
network in East and Southern Africa
by establishing bases in Zambia, Kenya and South Africa—and these plans
are progressing well. However, our overall vision is to create a
pan-African low-cost network and, as such, launching the low-cost
Fastjet model in both Angola and Ghana remains firmly part of the
company’s long-term plans."
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