Fastjet warns of potential collapse unless flights resume
3rd Jul 2020 09:10
(Sharecast News) - Shares in low-cost African airline Fastjet slumped on Friday after warning that the continued suspension of all flights and access to funding could cause the group to collapse.
Read moreFastjet sells Embraer to cut Solenta debt
24th Apr 2020 08:38
(Sharecast News) - Low-cost African airline Fastjet said on Friday was selling one of its Embraer 145 aircraft for $2.2m as part of an effort to settle a debt with Solenta Aviation.
Read moreFastjet says coronavirus threatens its finances
12th Mar 2020 13:49
(Sharecast News) - Fastjet said coronavirus posed a threat to its fragile finances as the budget African airline cut flights after a slow start to 2020.
Read moreFastjet warns of imminent cash crunch as critical talks continue
27th Jan 2020 08:35
(Sharecast News) - Africa-focused carrier Fastjet warned on Monday that it only had enough cash to see it through to the end of the quarter, as critical discussions over its future continued.
Read moreFastjet proposes sale of Zimbabwean operations
27th Nov 2019 12:25
(Sharecast News) - Low-cost African airline Fastjet proposed the disposal of its Zimbabwean operations to investors on Wednesday as the group now expects further funding will be required by the end of February 2020 if its wants to continue operating in its current form.
Read moreFastjet revenues soar as passenger numbers take off
23rd Apr 2019 08:50
(Sharecast News) - Low-cost African airline Fastjet saw revenues soar last year, driven by an increase in passenger numbers in Zimbabwe and Mozambique.
Read moreFastjet promotes seconded deputy to finance chief
5th Apr 2019 08:47
(Sharecast News) - Low-cost carrier Fastjet appointed Kris Jaganah to its board on Friday, tasking the former Stripes Aero director with the responsibilities of chief financial officer.
Read moreFastjet CFO Michael Muller resigns
28th Dec 2018 15:50
(Sharecast News) - Fastjet chief financial officer Michael Muller will step down from his post in March, after the company announced his resignation on Friday.
Read moreFastjet CEO sees foundation for 'prudent growth'
27th Jul 2018 10:57
(Sharecast News) - Low-cost African airline Fastjet, which last month raised $10m in an emergency placing after warning it could go bust, on Friday said it had started daily flights on Zimbabwe's sought-after Harare-Bulawayo route.
Read moreFastJet to raise $48m to stabilise the airline with Solenta injecting $19m
5th Jan 2017 09:04
(ShareCast News) - In a bid to stabilise Fastjet and reach cash flow break even, chief executive Nico Bezuidenhout aims to increase equity by at least $48m with Solenta, an African commercial aviation firm, injecting $19m into the Africa-focused budget airline and through a share placing. Solenta wi
Read moreFastjet shares dive after chairman resigns
25th Nov 2016 09:02
(ShareCast News) - Africa's low-cost airline Fastjet tanked in early markets after its chairman resigned due to the company requiring further capital. Chairman and Director of the company Colin Child stepped down as he felt it would be inappropriate to stay on after the company decided to initiate a
Read moreFastjet sells Airbus A319 to Avtrade
3rd Oct 2016 16:55
(ShareCast News) - Fastjet, an African based low-cost airline, has entered into a binding sale agreement of its solely-owned Airbus A319 with Avtrade. The consideration is to be paid $8m in cash with a 10% deposit payable on signature of the agreement and the balance on delivery. Included in the ag
Read moreWednesday newspaper share tips: Fastjet, Pennon Group
21st Sep 2016 11:03
(ShareCast News) - Fastjet has set itself from apart from its peers in Africa looking to leapfrog bottlenecks in the country's infrastructure by various means, the Financial Times said. Whereas many idealistic businesses tended to get mugged by the harsh realities of the Continent, Fastjet's travail
Read moreFastjet's losses widen as it plans to cut costs and relocate
20th Sep 2016 09:54
(ShareCast News) - Africa-based budget airline Fastjet's shares plummeted 17% on Tuesday morning as the company reported its losses widened in the first half. For the six months ended 30 June, operating losses from continuing activities rose to $31m from $12.8m the same period last year. The loss fr
Read moreFastjet to raise £19.2m to fund new business plans
21st Jul 2016 13:51
(ShareCast News) - Tanzania-based budget airline Fastjet announced a placing and open offer to raise £19.2m and said it plans to be in a cash-flow break-even position by the end of next year. The issue price of 50p represents a significant premium of around 116% to the closing price of the shares on
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