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fastjet Plc
('fastjet' or the 'Company')
7 March 2016

Trading Update

fastjet (AIM:FJET), Africa's low-cost airline, today provides an update on current trading and its operations.

Further to the operational update in December 2015, the challenging market conditions affecting much of the African aviation industry have been a lot more prolonged than management originally forecast.

fastjet has already taken action to manage its operating costs and overheads and is implementing further measures including reducing capacity and rationalising the route network to align it with current demand.

Based on current management forecasts, the Board expects results for 2016 to be materially below market expectations and the Group no longer expects to be cash flow positive for the year.

The Board monitors the Company's cash position very carefully and with over $20m of cash available at the end of February 2016, and based on current forecasts, it has sufficient funds to meet its operational requirements. The Board may consider raising further funds during the year to provide additional headroom and ensure the Company has the necessary resources to fund future growth as market conditions improve.

The Company remains confident in its low-cost airline model and is well positioned to capture the significant growth potential of the developing African aviation market.

ENDS

For more information, contact:

fastjet Plc Tel: +44 (0) 20 3651 6307
Ed Winter, CEO
Lisa Mitchell, CFO
UK media - Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571
Angharad Couch
Eleni Menikou
Nick Hayns
South African media - Tribeca Public Relations Tel: +27 (0) 11 208 5500
Cian Mac Eochaidh
Kelly Webster
For investor enquiries please contact:

Liberum Capital Limited - Nominated Adviser and Joint Broker Tel: +44 (0) 20 3100 2222
Clayton Bush
Christopher Britton
W.H. Ireland Ltd.- Joint Broker Tel: +44 (0) 20 7220 1666
James Joyce
Mark Leonard

NOTES TO EDITORS

About fastjet Plc

fastjet Plc is the holding company of the low cost airline fastjet which commenced flights under the fastjet brand in Tanzania in November 2012. fastjet Zimbabwe was successfully launched in October 2015. By adhering to international standards of safety, quality, security and reliability; fastjet has brought a new flying experience to the African market at unprecedented low prices. Utilising its fleet of Airbus A319s, fastjet is implementing the low-cost model across Africa and its long-term strategy is to become the continent's first low-cost, pan-African airline.

The results of a customer satisfaction survey showed that 100% of customers were likely to recommend fastjet to a friend. In developing its strong brand and identity, fastjet has won and been nominated for a number of awards, including winning three Transform awards for the rebrand and launch of fastjet, the award for 'Brand Strategy of the Year' at 2014's Drum Marketing Awards in London, and the Transport Innovator Award at the 8th Transport Africa Awards 2015 in Johannesburg.

fastjet Plc is quoted on the London Stock Exchange's AIM Market.

For more information see www.fastjet.com

Posted on 7th March 2016

Fastjet plc issued this content on 07 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 March 2016 13:37:12 UTC

Original Document: http://www.fastjet.com/corporate/investor-news/trading-update-1