Fri, 03rd Jul 2020 09:10
(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 more(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 more(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 more(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 more(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
Read more(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
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