Fastjet soars on Emirates tie-up talks

 
Marion Dakers
LOW-COST African carrier Fastjet is in partnership talks with Emirates, the firm said yesterday.

“Talks are at an early stage but this represents a great opportunity for both parties,” said Fastjet chief executive Ed Winter.

Fastjet has wasted no time since launching its first commercial flight in Tanzania last month, starting discussions to buy South African budget carrier 1time and kicking off ticket sales for routes across the continent.

The firm counts African conglomerate Lonrho and EasyGroup boss Sir Stelios Haji-Ioannou among its backers.

Its Aim-listed shares jumped seven per cent yesterday morning, before closing up 1.4 per cent.

Emirates, based in Dubai, flies to 24 destinations in Africa. “We are willing to work with Fastjet,” said African operations head Jean-Luc Grillet. “It is an independent carrier and that makes our work easy.”