Fastjet to raise funds as African aviation market remains tough

[MK254]

African budget carrier Fastjet Plc said it needed to raise further funds to have sufficient working capital and implement changes as its operations had remained cash negative in a challenging domestic aviation market.

London-listed shares in the company, which has seen the departure of two top executives under pressure from its second-largest investor, were down about 25 per cent at 22.94 pence at 0719 GMT.

Fastjet said on Tuesday it had started the initial phases of a fund-raising exercise, which it planned to complete in July.

READ: Fastjet to remain cash flow negative on weak Tanzania business

ALSO READ: Fastjet halts Nairobi-Kilimanjaro flights on low passenger numbers

Fastjet to raise funds as African aviation market remains tough

 

[NairobiWalker]

Geza Ulole

 

[Sammuel999]

Hahaha wea is geza Fastjet halts Nairobi kilimanjaro route Hahaha could someone take me to January 2015 when Geza said once they enter Kenya KQ will die???

 

[Geza Ulole]

Hahaha wea is geza Fastjet halts Nairobi kilimanjaro route Hahaha could someone take me to January 2015 when Geza said once they enter Kenya KQ will die???

KQ is being protected by KAA plus being bailed out by GOK everyday! Only ET can brag of operating on profit across Africa

 

[NairobiWalker]

KQ is being protected by KAA plus being bailed out by GOK everyday! Only ET can brag of operating on profit across Africa

Does it really matter? Hahaha. It is not our fault that the GOT was too broke to bail out Air Tanzania.

 

[Sammuel999]

KQ is being protected by KAA plus being bailed out by GOK everyday! Only ET can brag of operating on profit across Africa

If only the GOT could have figured that out 5 decades ago

Tanzania airlines could still be alive well its not KQ is

Fastjet is now crumbling KQ is still standing

 

[Kafrican]

waacheni hawa wanangojea gesi wapike chips mayai