Turnover growth continues for Fly540 as African expansion plans take off
Transport and mining conglomerate Lonrho Group, which owns a 49% stake in Fly540, reported a profit for the three months ended 30-Jun-2011 of GBP35.1 million, a 31.1% year-on-year increase. The Kenya-based low cost carrier achieved turnover growth of 25.6% in 3QFY2011 despite facing difficulties with high fuel prices and a delay in aircraft deployment. The carrier is on track to open its third hub in Ghana by Oct-2011.
