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Fastjet sells key part of its business

Fastjet Airbus A319
Fastjet Airbus A319, © Fastjet
LONDON - Fastjet said on Wednesday it is in talks to sell its Zimbabwean operations to a consortium led by its biggest shareholder Solenta Aviation for $8 million.

The deal which help the South African low-cost carrier stay alive until 2021. The company, whose shares plummeted 32% to a record low after the announcement, said it was also in talks with some of its major shareholders for a cash call.

Fastjet said if the restructuring plans do not pan out by the end of February, the Africa-focussed company would not be able to continue trading as a going concern.
© Reuters, aero.uk | 28/11/2019 14:21


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