Fastjet (Dar es Salaam) has announced that it has entered into a Memorandum of Understanding with Don Smith, CEO of FiveForty Aviation Limited which trades in Kenya as Fly540 (FFV, Nairobi Jomo Kenyatta), thereby paving the way forward for the two to end a long standing legal battle over payment and licensing agreements in Africa. 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. The disputes revolved around alleged non-payment by fastjet for its acquisition of a controlling interest in Fly540, and a failure by Smith to hand over all the necessary documents to complete the transfer of control of Fly540 to fastjet.
fastjet, Don Smith agree to call off legal proceedings
Fastjet Airbus A319-100,
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