CEO reassures all fastjet passengers

CEO reassures all fastjet passengers
Published: 30 June 2018 (1503 Views)
Fastjet - the budget African airline founded by Stelios Haji-Ioannou - reassuring all fastjet passengers, the travel industry and our partners that the company will continue to operate in a state of 'business as usual'.

The fastjet chief executive Nico Bezuidenhout said, "Over the past 24 hours a number of media reports have been published noting the decline in fastjet's share price following the company's announcement yesterday regarding its cash position.

"I would like to reassure all fastjet passengers, the travel industry and our partners that the company will continue to operate in a state of 'business as usual' with flights across our network in Tanzania, Zimbabwe, Mozambique, Zambia and South Africa operating as normal."

Shares in fastjet soared after the company secured up to $12m (£9.1m) in emergency funding.

The company warned earlier this week that it might go bust, but it announced on Friday that it will raise $7m through a share sale, while Solenta Aviation, its biggest shareholder, will provide a further $3m. In addition Fastjet wants to raise up to $1.6m through an open offer.

Following the announcement, shares jumped 136 per cent.

It came after the company revealed on Wednesday it had just $3.3m in cash left.

The funds will provide the group with "sufficient working capital for the remainder of 2018", Fastjet said.

Fastjet also revealed large annual losses and revenues down by more than a third from $68.5m to $46.2m.

The company has been slashing costs over the past two years in an attempt to turn its fortunes around.



- Byo24News

 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Mnangagwa asks UK to arrest Sibusiso Moyo's attackers

by Mandla Ndlovu | 16 July 2019 | 40 Views

Freedom of Information Bill

by MISA Zimbabwe | 16 July 2019 | 28 Views

Botswana: A base for future US military control of Southern Africa

by Zimbabwe Communist Party | 16 July 2019 | 29 Views

'Chiwenga bought Kasukuwere's wedding ring'

by Mandla Ndlovu | 16 July 2019 | 75 Views

White farmer thanks Mnangagwa

by Staff reporter | 16 July 2019 | 49 Views

Zimbabwe should have sent the Gems to AFCON

by Kubatana | 16 July 2019 | 47 Views

'I must be anointed new President of Zimbabwe,' says Chamisa

by Staff reporter | 16 July 2019 | 67 Views

Mutasa wanted Mugabe tried at ICC over Gukurahundi

by Mandla Ndlovu | 16 July 2019 | 76 Views

Mthwakazi National Party takes ZANU PF and MDC head on

by Mandla Ndlovu | 16 July 2019 | 65 Views

Controversial Uebert Angel meets Yoweri Museveni

by Mandla Ndlovu | 16 July 2019 | 49 Views

Civil servants stage demonstration in Harare

by Mandla Ndlovu | 16 July 2019 | 83 Views

Teachers vow to shutdown schools on 22 July

by Mandla Ndlovu | 16 July 2019 | 54 Views

Zesa to install prepaid meters on govt buildings

by Staff reporter | 16 July 2019 | 43 Views

WATCH: Chamisa speaks ndevere

by Staff reporter | 16 July 2019 | 53 Views

'A coup against Mnangagwa is about to explode'

by Blessing Ivan Vava | 16 July 2019 | 78 Views

All set for tomorrow's anti-Mnangagwa demonstration

by Mandla Ndlovu | 16 July 2019 | 69 Views

Restrain your wife - Mnangagwa told

by Methusi Ncube | 16 July 2019 | 268 Views

Mnangagwa-Army fallout deepens

by Mandla Ndlovu | 16 July 2019 | 189 Views

Auxilia Mnangagwa: A highly trained CIO spy

by Mandla Ndlovu | 16 July 2019 | 188 Views

MDC apologises to Mthwakazi

by Mbonisi Gumbo | 16 July 2019 | 126 Views

Smelly Dube scoops top UK award

by Staff reporter | 16 July 2019 | 130 Views

Attack on Mugabe coup announcer exposes polarisation

by Editorial Comment | 16 July 2019 | 181 Views

Kombi operators raise fares

by Staff reporter | 16 July 2019 | 187 Views

'Devolution a disappointment'

by Staff reporter | 16 July 2019 | 99 Views

Mnangagwa fumes over ivory, rhino horns

by Staff reporter | 16 July 2019 | 138 Views

MDC blames intimidation for by-elections loss

by Staff reporter | 16 July 2019 | 92 Views

Chamisa changes tact

by Staff reporter | 16 July 2019 | 164 Views

Zimbabwe's telecoms firms in revenue decline

by Staff reporter | 16 July 2019 | 82 Views

Paynet readmits 3 banks as alternative is tested

by Staff reporter | 16 July 2019 | 141 Views

Gukurahundi 'architect' threatens

by STaff reporter | 16 July 2019 | 97 Views

Chamisa's MDC has no more political depth than a finger bowl

by Tichaona Zindoga | 16 July 2019 | 125 Views

Zanu-PF youths take clean-up to UK

by Staff reporter | 16 July 2019 | 98 Views

Prophet in court for poisoning father to inherit his Mazda 323

by Staff reporter | 16 July 2019 | 94 Views

Chmaisa mustn't underestimate the electorate

by Staff reporter | 16 July 2019 | 102 Views

Mnangagwa hands over medical equipment

by Staff reporter | 16 July 2019 | 78 Views

Guard shoots self 3 times in suicide

by Staff reporter | 16 July 2019 | 105 Views