Five Forty Aviation withdraws FastJet’s operating licence

Five Forty Aviation Ltd has withdrawn the licences it had granted to FastJet’s operations in Angola, Ghana and Tanzania to use the Fly540 brand with immediate effect. This, the company states, “is due to the failure on the part of FastJet’s Africa Operations to comply with the respective licence agreements signed with the Company”. Specifically, Five Forty Aviation states that the payment of licence and other fees of US$6.9m, US$0.5m and US$0.3m for Fly540 Tanzania, Fly540 Angola and Fly540 Ghana respectively are outstanding as well as failure to disclose financial information for December 2012. Also, Five Forty Aviation states that