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

El-Houry: CEO with a license to grow

Hassan El-Houry, head of Kuwait-based National Aviation Services (NAS), wants to make up for lost time and resume the growth story of this privately owned airport services group. Mark Pilling met him.

Thales elevates the inflight entertainment experience with AVANT Up

AVANT Up is Thales’s latest evolution of industry leading inflight entertainment (IFE) solutions.

Moment provides wireless IFE solution aboard Air Cairo fleet

Moment has entered a partnership with Air Cairo. The airline’s fleet will be equipped with the Flymingo box, Moment’s Wireless In-Flight Entertainment system, to elevate passenger experience and contribute to enhanced comfort in the

Ethiopian starts operating flights with fully vaccinated crew

Ethiopian Airlines Group has started operating flights with fully vaccinated crew against COVID-19 to keep travellers safe in light of the pandemic.

Tunisia beaming with boosted radar coverage

The installation of a new monopulse secondary surveillance radar (MSSR) at Akouda, near Sousse, represents a significant enhancement of radar coverage over and around Tunisia. Alan Dron reports.

Delta Air Lines and Kenya Airways boost connectivity

Delta Air Lines and Kenya Airways have expanded their codeshare agreement, increasing the choice of destinations offered by Delta in Africa and extending Kenya Airways’ reach in North America via the U.S. gateway of New York-JFK.

Aviation Africa 2021 SKOC
See us at
WDS BT1202090322Aviation MENA 2022DAS21_BTAviation Africa 2021 BTOC