fastjet Plc announced earnings results for the year ended 31 December 2018 and revenue results for the first quarter of 2019. For the full year of 2018, the Group revenue from continuing operations increased by 166% to $38.3 million against $14.4 million a year ago. The Group incurred an operating loss for continuing operations for fiscal year 2018 of $41.2 million against $11.2 million a year ago.

For the first quarter of 2019, the company delivered an underlying net operating loss of approximately $0.2 million on revenue of approximately $9.5 million ($7.8 million loss on revenue of $13.8 million in first quarter of fiscal year 2018), of which $5.1 million loss on revenue of $7.6 million was driven by Tanzania operations in first quarter of 2018.

Based on the Group's performance during the first quarter of 2019, the fastjet Board expects 2019 to be a marginally profitable year for the Group at an underlying operating level, with further route expansion planned for Zimbabwe, non-metal (codeshare) growth through partnership with LAM in Mozambique and tentative Brand entry in South Africa being areas of focus. The Group is furthermore aiming to achieve IOSA certification in fastjet Zimbabwe during 2019 whilst adding emphasis to enhancing the company's internal business information systems for decision-making and performance monitoring purposes.