|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||1.4500 - 1.4500|
|52-week range||0.9970 - 5.6510|
|Beta (3Y monthly)||1.31|
|PE ratio (TTM)||N/A|
|Earnings date||31 May 2019 - 3 Jun 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.29|
Money-losing African Airline Fastjet is on the hunt for a new CEO after incumbent Nico Bezuidenhout quit to rejoin his old company. The departure comes less than a week after the carrier announced a full-year loss of $65 million, having delayed the publication of its results because of an ongoing “audit process.” Bezuidenhout is going […]The post Fastjet CEO Quits as Problems Mount appeared first on Skift.
South Africa's Mango Airlines has rehired Nico Bezuidenhout as chief executive to speed up its recovery plan, turning to an executive who led the business for nearly a decade and recently steered Africa's Fastjet back from financial crisis. South African Airways (SAA), the parent of low-cost carrier Mango, has not made a profit since 2011 and said last month it needed 4 billion rand ($282 million) from the government to survive the current financial year.
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Fastjet was also forced to divest operations in Tanzania, its home market, after battling tough trading conditions there. "Whilst these cost-cutting measures were at times painful, our newly-sized operations provide Fastjet with a materially enhanced strategic position to pursue the growth opportunities on offer on the continent," Chief Executive Officer Nico Bezuidenhout said. Fastjet had posted a loss of $7.8 million a year earlier.
Fastjet in June had entered agreements with Annunaki Investments and SSCG Africa Holdings, following which the airline lent $5 million from its Zimbabwe unit to Annunaki in return for a $2 million (1.52 million pounds) loan to Fastjet from SSCG. The airline had entered into the loan agreements with Annunaki and SSCG so that Fastjet can access a portion of its restricted cash held in Zimbabwe. Fastjet now expects a repayment from SSCG by June 30, from the earlier agreed date of March 31, the company said on Monday.
Low-cost African airline Fastjet cancelled its remaining flights to and from Zimbabwe on Monday due to political unrest, it said in a statement on Twitter. Protesters barricaded roads and burned tyres ...
(Reuters) - Troubled African carrier Fastjet Plc said on Friday its CFO Michael Muller will leave the company in March next year. The company, which has been struggling to secure cash to continue operations, ...
The company in September announced a fundraising and equity refinancing aimed at increasing its equity base by at least $40 million, which will give the airline enough working capital until the end of 2019. Last week, Fastjet had said it had cash to operate only until Dec. 14 or it may have to go into administration, shut shop or sell itself.
Low-cost African airline Fastjet , which said in September it needed more cash within a month to continue operating, announced a fundraising and equity refinancing aimed at increasing its equity base by ...
Struggling African budget airline Fastjet (LSE: FJET.L - news) said discussions with shareholders and creditors were continuing, describing them as "constructive" in its efforts to raise new funds or ease repayments to continue trading as a going concern. Fastjet warned at the end of October that it needed to boost its finances within days to survive. The airline, which has large operations in Tanzania, said it was able to continue operating during November due to some improvement in trading and internal efficiencies.
Fastjet Plc (LSE: FJET.L - news) 's shares shed more than half of their value on Wednesday after the African budget airline said it needed more cash within a month for it to continue operating. Fastjet, launched in 2012 and modelled on the likes of no-frills airlines easyJet Plc and Ryanair Holdings Plc (Frankfurt: RY4C.F - news) , has been running short of cash for more than two years and it was unclear if investors will continue to back it. "The company is currently in active discussions with its major shareholders regarding a potential equity fundraising, in the absence of which the group is not able to continue trading as a going concern," the airline said in a statement.