BUZZ-Fastjet: life low on subdued outlook

** Africa focused low-cost airline Fastjet (LSE: FJET.L - news) at its lowest level ever after saying it sees lower than expected revenue in 2015 and 2016

** Co cites prolonged hit from the presidential election in Tanzania in the form of reduced governmental and civil service traffic and lower demand for travel more widely across the country

** Liberum analysts say it is unclear when government activity will return to normal, but the broker expects progress in early 2016

** Co says taking steps to manage its operating costs and overheads, and fully align its growth strategy with demand

** Co says expected to be cash flow positive in 2016

** Liberum cuts TP to 90p from 230p, recommendation remains "buy"

** "We do not believe the short-term challenges alter the long-term opportunity in African aviation, nor the validity of Fastjet's low-cost model," the analysts say

** Stock down 9.8 pct, after falling as much as 19.4 pct in early trade

** Stock has fallen 45.7 pct ytd (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)