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Just one year into operations, pan-African low-cost carrier FlyAfrica is making good on its ambitious growth plans by launching a new subsidiary in Namibia and securing political backing for a third offshoot in Gabon.
The airline group, which began flying from Zimbabwe in July 2014, is headed by chief executive Adrian Hamilton-Manns and part-owned by South African arms dealer Ivor Ichikowitz. Its business model involves setting up franchises across Africa through joint-venture agreements with local partners.
But despite spreading its wings faster than London-listed competitor FastJet – which first exported the European low-cost model to Africa in 2012 – the group has not been immune to the continent's regulatory headwinds...
