Fastjest, Fly540 deal hitch
07 February 2013, 15:53
Nairobi - The dispute between Fastjet plc and Five Forty Aviation Limited is far from over after the latter announced that it had withdrawn the licenses it had granted for Fastjet’s operations in Angola, Ghana and Tanzania to use the Fly540 brand.
In a statement to Capital News, Five Forty Aviation CEO Don Smith said that this is due to failure on the part of Fastjet’s Africa operations to comply with the respective licence agreements signed with the company.
Five Forty Aviation, trading as Fly540, says Fastjet is in breach of both the safety and commercial conditions of the licence and owe them over $7.7 million (KES 674.9million) in outstanding licensing fees.
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