Fastjet to raise more funds amid challenging markets
28th Jun 2016 08:45
(ShareCast News) - Tanzania-based budget airline Fastjet said on Tuesday that it needs to raise further finance to provide essential working capital and effect the necessary changes to its operations as the trading environment remains challenging. The company said it has begun the initial phases of
Read moreFastjet appoints Nico Bezuidenhout as new CEO
9th Jun 2016 14:32
(ShareCast News) - Fastjet has confirmed they have appointed Nico Bezuidenhout as its new chief executive on Thursday. Bezuidenhout, 39, will join Fastjet on 1 August, after 10 years as chief executive of South African Airway's low cost subsidiary Mango Airlines. He was chief executive from the airl
Read moreFastjet nosedives at it warns over 2016
2nd Jun 2016 08:03
(ShareCast News) - Fastjet shares slumped on Thursday after the Tanzania-based budget airline posted a narrower loss the year to the end of December but said it expects to report a trading loss and to remain cash flow negative in 2016. The operating loss from continuing activities narrowed to $37.9m
Read moreBryan Collings steps down as non-exec at fastjet
8th Apr 2016 16:11
(ShareCast News) - Bryan Collings has resigned as a non-executive director at fastjet with immediate effect. It was announced in December that Collings would not be standing for re-election at the airline's next annual general meeting. Fellow non-executive director Robert Burnham was understood to
Read moreFastjet director resigns amid row with easyGroup
18th Mar 2016 15:44
(ShareCast News) - Fastjet's public spat with easyGroup led to the resignation of a board member late on Friday afternoon. After 1500 GMT, the Africa-based low cost airline announced Tim Ingram, easyGroup's representative on the board, had resigned with immediate effect. "The board has regrettably
Read moreFastjet shares crash as it hits back at EasyGroup
18th Mar 2016 08:39
(ShareCast News) - Tanzania-based budget airline Fastjet on Friday criticised easyGroup for going public with a letter relating to the two companies' contractual relationships and said it was seeking legal advice. Fastjet said that while it welcomes constructive engagement with all shareholders, it
Read moreLiberum downgrades Fastjet on short-term challenges
8th Mar 2016 10:49
(ShareCast News) - Liberum downgraded African budget airline Fastjet to 'hold' from 'buy' and slashed the price target to 45p from 90p following a "disappointing" trading update, which has led the brokerage to cut its 2016 and 2017 forecasts. Liberum now expects a $20m loss in 2016, compared with a
Read moreFastjet shares plunge after stark profit warning
7th Mar 2016 08:43
(ShareCast News) - Fastjet's share price plunged early on Monday, after the Africa-focused airline issued a stark warning over its long-term viability as challenging market conditions in the continent continued. The AIM-traded low-cost carrier, affiliated with the easyGroup through a major sharehold
Read moreFastjet to start flights between Kenya, Tanzania
23rd Dec 2015 08:25
(ShareCast News) - Low cost African airline fastjet said its Tanzanian operation had been given clearance by the Kenyan government to operate flights between Kenya and Tanzania. Fastjet said two new routes, Dar es Salaam to Nairobi, and Kilimanjaro to Nairobi were on sale from Wednesday. From 11 Ja
Read moreFastjet warns over 2015 and 2016 revenues
22nd Dec 2015 09:10
(ShareCast News) - Low-cost African airline Fastjet said revenues for 2015 and 2016 are likely to be lower than anticipated due to challenging market conditions and currency headwinds. The company said it is proactively taking steps to manage its operating costs and overheads and fully align its
Read morePolitics and precipitation impede Fastjet loads
8th Dec 2015 07:39
(ShareCast News) - Political turmoil and foul weather hampered passenger loads for Fastjet in November, it announced on Tuesday. The AIM-listed African easyGroup affiliate carried a total of 62,843 passengers during the month, with a load factor of 60% - down 3% on October. Fastjet blamed this on t
Read morefastjet sees dip in passengers despite network expansion
4th Nov 2015 15:41
(ShareCast News) - fastjet has seen a drop in passengers despite a recent expansion of its network. The Tanzania-based airline carried a total of 73,758 passengers in October, a drop of over 2,800 passengers from September. However, the airline has seen a 23% year-on-year increase in the number of
Read moreFastjet inches closer to flying in Kenya
12th Oct 2015 08:01
(ShareCast News) - Fastjet's Kenya subsidiary has been granted an air service licence by the Kenya Civil Aviation Authority. The decision, announced on Monday, clears the way for the low-cost airline to take the next steps to operate domestic flights in Kenya. The AIM-listed company will now begin
Read moreFastjet signs sales deal with Emirates
8th Oct 2015 09:54
(ShareCast News) - Fastjet and Emirates have signed a sales and distribution contract that will give passengers access to the African airline's growing route network. The AIM listed airline announced the agreement on Thursday, in which a bespoke link will be created between Emirates and fastjet's re
Read moreFastjet gets licence to operate from Zimbabwe
7th Oct 2015 08:37
(ShareCast News) - Low-cost airline Fastjet has been granted an Air Operator Certificate by the Civil Aviation Authority of Zimbabwe, which gives it a licence to operate both domestic and international routes within and from Zimbabwe. Fastjet Zimbabwe is now the second airline in the Fastjet network
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