FastJet moves to sell off Kenyan Fly540 operation and tag onto Kenyan Airways hub plans

African low-cost carrier Fastjet is to sell its stake in Fly540 Kenya for a nominal fee to Fly540 director Don Smith, in the process taking a $10m write-down on the sale. “Disposing of our investment in Fly540 Kenya allows us to pursue our priority objective of creating Fastjet Kenya as a new entity which will operate to the same low-cost model, international standards of safety, reliability and punctuality as Fastjet Tanzania—and utilize the same commercial strategy and distribution platforms. Further information on the company’s plans to launch Fastjet Kenya will be announced in due course,” CEO, Ed Winter stated yesterday.