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Anybody remember the Stalwarts? I was one and I took a major loss on this airline, but I am still invested and look forward to a slow ateady growth now that the Nico regime is in place. My original belief for a LCC in Africa remains and the opportunity for Fastjet is still there. Let us hope this time the plan is fulfilled.
G-BOAE: “Anyone remember the Stalwarts?” I even remember you by your original username! And even you joining me at the AGM 2015 when you spotted me chatting with Ed Winter after the meeting had concluded and introducing yourself! So, good to see you posting again though probably still a rare visit? Judging by my number of posts, I must be a fairly well-known Stalwart and occasionally bring up the name for the benefit of others. I have only met one other (at last year’s AGM and regularly keep in touch with him). You may have noticed the great improvement to this place since Bedbug and Beretta (Steve Gurr) were both banned? Like you and many other long-termers, I have lost a considerable amount since I first invested over 4 years ago but, also like you, maintain a stoic faith in the feasibility of an African LCC and especially so since the arrival of Nico and his team, of whom I have high hopes of the company’s steady progress and success.
Marksman I do remember you and our shared enthusiasm for Fastjet. Like the previous Board I believed Africa and their governments would see Fastjet as a key component in communication and travel, almost as a key infrastructure project, and would assist and support the airline. Alas, that was not to be. So now we are faced with an uphill struggle as the passenger demand is still limited. We desperately need to get a South African stakeholder to get a licence to fly within SA where the domestic market where the demand exists. I recognise this may never happen so until then it is going be a very long time before we can recover some of our investment. Keep hoping for a break through somewhere.
We desperately need to get a South African stakeholder to get a licence to fly within SA where the domestic market where the demand exists. I recognise this may never happen ---- G-BOAE Good to see you back, we do actually have a SA stakeholder in Solenta who hold many an AOC, I'm optimistic once we are financially stable we will be taking up such opportunities , the latest RNS suggested that they are reluctant to launch any new routes to avoid start up costs, Nico has with Solenta in a matter of months secured fifth freedom rights enabling us to trade hre lun/ lun hre, something previous BOD were unable to achieve in four years.
FJet crazy, thanks for your insights, but I have missed the significance of the trade on hre/Lun Lun/hre. Please enlighten me on this. Also, Solenta have 28% stake. Don't they need a greater holding to meet the SA requirements for FJet to qualify for domestic SA operations in their own name?
G-BOAE You will find all the information re Solenta in previous RNS, one of the advantages of being partnered with Solenta is that we could at a stroke operate FLIGHTS using their AOC which they hold in several Countries including South Africa, with regards to Fifth Freedom carriage rights we can now fill otherwise empty seats vacated by DAR originators with customer s who wish to board in say Lusaka wanting only to fly to Harare and as Rufiji stated Emirates charge up to $500 return for a short one hour hop , this addition of revenue will go a long way in sustaining our Dar LUN HRE route
Thanks Fjetcrazy. Wow! This sounds brilliant. Fifth freedom rights can become a real money maker and I am being to feel very positive about my shares. I now think we will expand sooner than I thought once we complete the reorganisation and get the cost savings coming through.