15th Jan 2007 13:02
Lonrho Africa PLC15 January 2007 LONRHO AFRICA PLC ("Lonrho") Lonrho's Fly540 launches new air services to Kisumu Lonrho is pleased to announce that Fly540, a recently established low costairline in Kenya in which Lonrho has a 49% stake, has launched its second routefrom Nairobi's main international airport to Kisumu in Western Kenya lastFriday. This development complements Fly540's inaugural service from Nairobi toMombasa which commenced in late November 2006 and has seen strong demand. Fly540 was established to meet the growing demand for alternative domestic andregional air travel, as well as to provide freight services, within Africa. Itis the first "no frills carrier" within the East African region. From its basein Kenya, a popular tourist destination, Fly540 is in an ideal position to takeadvantage of the country's thriving domestic air travel market. Furthermore,Fly540 intends to launch its first international services into the East Africanregion in the course of 2007 with the aim of transforming the group into atranscontinental carrier. Commenting on the launch of this second route, Don Smith, CEO of Fly540, said: "After Mombasa, Kisumu is East Africa's busiest destination and an integral partin our network. The success of our flights to Mombasa has exceeded ourexpectations and we are delighted to have been able to introduce the Kisumuroute so quickly. We currently intend to introduce another two routes in thecourse of the next three months." David Lenigas, Joint Chairman and CEO of Lonrho, said: "Fly540's success to date clearly demonstrates a gap in the market and, with thecurrent lack of short haul flights between East and West Africa, Fly540 is animportant addition to African passenger transport. "Our investment in Fly540 represents an ideal fit with Lonrho's objective toinvest in businesses that can make a substantive difference to the region. Weremain confident that this investment represents a real opportunity to increasevalue for Lonrho's shareholders." End For further information, please contact: Lonrho Africa Plc +44 (020) 7016 5105David Lenigas, Joint Chairman and Chief Executive +44 (0)7881 825 378Emma Priestley, Executive Director +44 (0)7867 785 177 Strand Partners Limited +44 (0)20 7409 3494Simon RaggettMatthew Chandler Cardew Group +44 (0)20 7930 0777Nadja Vetter +44 (0)7941 340 436Eden Mendel +44 (0)7887 676 603Emma Consett +44 (0)7971 468 308 Notes to Editors Lonrho Africa Lonrho is in the process of re-establishing a significant presence on theAfrican continent. Its investment and acquisition strategy, which was adoptedfollowing the appointment of David Lenigas as Chairman and Chief Executive andsubsequent shareholder approval in February 2006, focuses on the naturalresources, infrastructure, leisure and agribusiness sectors. Lonrho's executiveteam has considerable experience across these industries in a wide range ofcountries. Since adopting its current strategy, Lonrho has announced investmentsin Brinkley Mining Plc, Nare Diamonds Ltd, Luba Freeport, Fly540 and Norse Air. Fly540 Fly540 entered the Kenyan domestic marketplace with a brand new aviationbusiness model focusing on modern, eco friendly ATR aircraft offering 46 seatsin a no frills economy environment. Kenya is seen as an ideal base for the newairline as the country is a popular tourist destination with a thriving domesticair travel market. For further information please visit Fly540's website at:www.fly540.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Lonrho