Fastjet has entered into an MoU with Don Smith, CEO of Five Forty Aviation Limited which trades in Kenya as Fly 540, with a view to resolving recent disputes and establishing a way by which the two parties can work together to maximise the value and business prospects of both Fly 540 and fastjet.
The MoU includes, among other provisions, an agreement by both parties to stop legal proceedings in order that mutually beneficial and constructive resolutions are discussed and implemented.
Commenting on today's progress, fastjet CEO Ed Winter said: "The signing of this MOU provides a positive platform for fastjet to strengthen its East African Hub".
"Both fastjet and Don Smith are pleased to be putting the unfortunate, highly publicised events of the past few months behind us. Don Smith remains the CEO of the Kenyan business and we are pleased to have him as part of the fastjet/Fly540 team."
FastJet and Five Forty Aviation reach agreement
