in Air Transport / Business & Finance

Fastjet to go private to survive crisis.

Posted 19 August 2020 · Add Comment

Low-cost carrier Fastjet is to de-list from the AIM market and will re-register as a private company in a last-ditch bid to survive.

 

This follows a demand from its major shareholder – Solenta Holdings – to withdraw from the AIM market otherwise there would be no more financial support available.

The airline, which started flights in 2012, has been struggling with losses and, while it has retreated from markets including Tanzania and Mozambique, it has been facing continuing pressures – including the coronavirus crisis – affecting its remaining services in Zimbabwe and South Africa. 

Fastjet confirmed it would re-register as a private limited company by 15 September. It saod that without Solenta’s support the airline would cease to exist by the end of August. Shareholders voted with 96% support delist.

Other Stories
Advertisement
Latest News

TATV - Newsround Feb 4: Bahrain's boost, Nigeria's plans and Dubai's training magic

The first TATV Newsround programme brings an overview of the main talking points in the news from the aviation, defence and aerospace industry in the emerging markets of the Middle East, Africa and South Asia.

TATV - Defence Monthly Episode 1

With this, the first Defence Monthly programme for TATV – produced in association with the World Defense Show – host Alan Peaford is joined by legendary defence editor Jon Lake and defence correspondents Alan Warnes in central Europe and

Nigeria's Allied Air receives first converted 737 for vaccine deliveries.

West Africa’s biggest cargo airline, Allied Air, has taken delivery of its first Boeing 737-800 converted freighter. The aircraft is the first for airlines in Africa and the freighter -MSN 36846- is the youngest 737-800 in the world that

Zambia banks on a long-term strategy

Keith Mwanalushi assesses the airline scene in Zambia, looking at latest developments and the challenges of the past year.

The airline industry is expected to remain cash negative throughout 2021

The International Air Transport Association (IATA) has released new analysis showing that the airline industry is expected to remain cash negative throughout 2021.

Kenya Airways launches economy max seat-blocker

Kenya Airways has unveiled, Economy Max, a product that allows customers to create additional personal space by booking a seat or a row next to them.

EDGE SK2601300621
See us at
Aviation Africa 2021 BTNNAviation MENA 2021WDS BT1202090322DAS21_BT