Fast Jet’s success in Tanzania
It has been touted as a historic moment for Tanzania’s aviation industry. The entry of Fast Jet in the country low cost flight services underscored the rising power of Tanzanian corporations and the economy. Air travel has exploded since the industry was deregulated and private players allowed to enter the market. Unlike Precision Air and Air Tanzania, Fast Jet popularity means it needs more aircraft as it adds flights in a region where air travel is expected to grow more than 20 percent annually through 2020. The carrier, which flies several destinations within Tanzania and East Africa, is a low-cost carrier challenging Precision Air, the country’s previous market leader. It has been an amazing journey for Fast Jet so far. The company, which started with only one aircraft, now operates several modern planes and holds more than 50 percent share of Tanzania’s domestic market and has so far carried hundreds of thousand of passengers.
The success of Fast Jet is a proof that if East African governments allows the private sector to operate without too much red tape, businesses can flourish and customers will benefit. It is the private sector that takes risks and creates jobs. Tanzania is indeed rich with entrepreneurial drive and spirit. Fast Jet has so far shown that the country also has the capacity to cut multi-million dollar industry. While Tanzanians celebrate Fast Jet’s success, a message is clear Tanzania needs more corporate champions and less bureaucratic inertia to forge ahead. It’s the battle for Tanzanian skies where travelers to Kilimanjaro, Tabora, Mbeya, Bukoba, Mwanza and Arusha among others will be the only winners from the high-stakes battle for market share being waged by Precision Air and Fast Jet. Since all the metrics in Tanzania’s aviation industry prove that the airline with the lowest prices wins the survival wars. Fast Jet saving on fuel costs, and features a high literature pocket, which puts the seat-back pocket above passengers’ knees and allows seats to be spaced closer together, is what has given the new kid on the block the market share it has in Tanzanian airline sector.