FastJet passenger numbers climb steeply in May 2014

African no-frills airline fastjet (LON:FJET) saw a sharp rise in passenger numbers in May despite heavier than expected rain over the month.

The airline’s operations in Tanzania carried 43,020 passengers at a load factor of 71%, representing a 20.3% increase over April and 77.5% on the previous year.

Month on month capacity rose by 11% with 60,320 seats flown in May against 54,230 in April.

Although May is typically wet in Tanzania, the country experienced much longer and heavier bouts of rain than normal for the time of the year, the airline said.

Ed Winter, interim chairman and chief executive added: "I am delighted to see our capacity increasing as we maximise the utilisation of resources, particularly our aircraft, as planned.

“We expect to announce further increases in capacity, including new routes, in the very near future.

“I am particularly pleased that the number of flown passengers has increased by 20% compared with April, against a capacity increase of only 11%.

Broker Sanlam added: “The group has already proven the LCC [low cost carrier] model in Tanzania. The business has gone through a transformation over the past few months. The restructuring and equity fundraising now provide the group with funds to grow the business.”