Fastjet Plc has signed a Memorandum of Understanding with Nigeria’s Red 1 Airways Limited to operate a low-cost airline in Nigeria and other destinations across Africa.
A statement by Fastjet on Thursday said the airline would be branded Fastjet Nigeria, and the capital required for the venture will be provided by Red 1-Fastjet Plc.
A commercial arrangement will exist between Red 1 and Fastjet for the provision of the Fastjet brand, operational framework and management services.
The statement also said, “Since 2012 when it commenced business in Tanzania, Fastjet has established itself as a provider of safe, reliable and high quality air travel in Africa; Fastjet Nigeria intends to bring same level of service to Nigeria.”
“The Fastjet Nigeria management team will be led by Red 1, who will oversee the day-to-day operations, while the Fastjet Plc management team will bring its experience and expertise of the low-cost airline to the partnership.”
Operating within Fastjet’s growing Pan-African organisation, the partnership is planned to provide Fastjet Nigeria with an extensive distribution network.
Fastjet CEO, Ed Winter said, “The combination of Fastjet’s brand and experience and Red 1’s extensive knowledge of the local aviation market and Nigerian business landscape is a perfect foundation for a great airline. The Nigerian people deserve a new airline offering great value and operating to international standards of safety and reliability.”
The Chief Executive Officer, Red 1, Dikko Nwachukwu, added, “We are excited to partner with Fastjet and humbled to be working on bringing Nigeria its first true low cost carrier.
“At Red 1, our motto is ‘Now every1 can fly’ and we aim to make air travel affordable so more Nigerians can choose to travel by air. Our experienced management team has spent 10 years fine tuning the business plan and waiting for the right opportunity to meet the increasing demand for affordable air travel in Nigeria. The time has now come to partner with Fastjet and seek to provide Nigeria with a world class low cost carrier.”