Fastjet In Partnership Talks With Emirates

December 5, 2012

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Low-cost African carrier Fastjet said it was in potential partnership talks with Emirates, sending it shares higher on London's AIM market.

"Talks are at an early stage but this represents a great opportunity for both parties," Fastjet chief executive Ed Winter said in a statement.

Fastjet, which began commercial flights last month, was set up after British investment firm Rubicon acquired the aviation unit of industrial group Lonrho for GBP£53 million (USD$85 million) in June.

The low-cost carrier had said on Tuesday that it was in talks with liquidators to buy struggling South African budget airline 1time.

Africa's fledging aviation market is poised for growth as consumer demand in the resource-rich continent rises.