- Fly540 Airline Name
- 5H IATA
- FFV ICAO
- Active Status
- ScheduleP Schedule
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4 Countries served
15 Destinations served
25 Routes served
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12JUN2013: fastjet settles Fly540 Kenya issues as Jetlink Express goes it alone
Fastjet (FN, Dar-es-Salaam) has reportedly resolved its outstanding issues with Fly540 (5H, Nairobi Jomo Kenyatta) paving the way for the airline to begin its much sought after Kenyan operation. However, the deal now pours cold water on any prospect of a deal with JetLink Express (J0, Nairobi Jomo Kenyatta), who have now announced a proposal to creditors in which a 51% tranche would be shared between the equity investor, the creditors and a debt-management agency. In return, USD4.23million of Jetlink's debt would be expunged with the rest (USD2.25million) converted into shares, which it would buy back after five years. Should creditors come on board the plan, Jetlink would see finance come from CFC Stanbic Bank which would therefore allow it to resume flights.
04JUN2013: fastjet to offload majority stake in Fly540 Tanzania following losses
Fastjet (FN, Dar-es-Salaam) has announced it will reduce its current 90% equity shareholding in Fly540 Tanzania (FTZ, Dar-es-Salaam) and is in initial discussions with a number of Tanzanian investors. The move comes after the fledgling LCC announced USD34.9million in losses for its first year of operations. fastjet has further stated that its other subsidiaries, Fly540 Angola (F5, Luanda), Fly540 Ghana (5G, Accra) and Kenya's Fly540 (5H, Nairobi Jomo Kenyatta) had not performed to its expectations and blamed losses incurred on a lack of international traffic rights, restrictive government bureaucracy and exchange controls as well as ongoing legal disputes over contracts. As a result, fastjet’s auditors have issued a warning about the airline's ability to continue trading, though the company remains positive about its future, hedging its bets on a nascent South African operation due to commence flights in June, and operated in conjunction with Federal Air (7V, Durban Virginia).
30APR2013: Jambo Jet planning ops with three B737-300s; eyes domestic network
Jambo Jet (Nairobi Jomo Kenyatta) is set to launch "later this year" using a fleet of three B737-300s leased from parent carrier, Kenya Airways (KQ, Nairobi Jomo Kenyatta), the Group's CEO, Titus Naikuni has said. He added that while he is "cautiously optimistic" following the completion of market analysis, the project still requires board approval so as not repeat the mistakes of the airline's previous LCC, Flamingo Airlines (F7, Nairobi Jomo Kenyatta), which ended in failure. As an independent entity from Kenya Airways, Jambo Jet will initially focus on domestic operations to Mombasa, Eldoret and Kisumu, before going regional. However, in the long run, Naikuni expects it to take over "some but not all" of the Kenyan national carrier's domestic routes, thereby allowing it to focus on long haul flights. Jambo Jet's rival, Regional Air Lines (FN, Casablanca Int'l), has yet to make its début in Kenyan skies, though with the recent move to resolve its legal dispute with Don Smith of Fly540 (5H, Nairobi Jomo Kenyatta) and a further tie up with JetLink Express (J0, Nairobi Jomo Kenyatta) still in the offing, it is only a question of time before Kenya sees its own battle of the LCCs.
25APR2013: fastjet, Don Smith agree to call off legal proceedings
Fastjet (FN, Dar-es-Salaam) has announced that it has entered into a Memorandum of Understanding with Don Smith, CEO of FiveForty Aviation Limited which trades in Kenya as Fly540 (5H, Nairobi Jomo Kenyatta), thereby paving the way forward for the two to end a long standing legal battle over payment and licensing agreements in Africa. The MoU includes, among other provisions, an agreement by both parties to stop legal proceedings in order that mutually beneficial and constructive resolutions are discussed and implemented. The disputes revolved around alleged non-payment by fastjet for its acquisition of a controlling interest in Fly540, and a failure by Smith to hand over all the necessary documents to complete the transfer of control of Fly540 to fastjet.
08FEB2013: Fly540 withdraws brand license for Fastjet, legal battle continues
Fly540 (5H, Nairobi Jomo Kenyatta) CEO Don Smith has announced that the Kenyan regional carrier would have withdrawn the Fly540 brand license for Fastjet (FN, Dar-es-Salaam) asking the low-cost carrier to stop using the Fly540 brand for its operations in Angola, Ghana and Tanzania within a week. Fastjet had acquired Lonrho Aviation in 2012 and now controls regional carriers Fly540 Angola (F5, Luanda), Fly540 Ghana (5G, Accra) and Fly540 Tanzania (FTZ, Dar-es-Salaam) which had been set-up by Lonrho as Fly540 franchise operators. Fastjet has refused the statements by Fly540 as "false and damaging" saying that it had already paid to acquire the Fly540 brand and would take legal action against Fly540 if Smith would continue to "create" issues. It says it had agreed with Smith and his partners to acquire Fly540 in Kenya as well but would now go ahead and work with JetLink Express (J0, Nairobi Jomo Kenyatta) instead. Fly540 Angola operates two ATR 72-200s and an ATR 72-500, Fly540 Ghana operates an EMB-170 and an ATR 72-500. Both carriers are expected to be rebranded as Fastjet at a later stage.