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Agreed, why would they want to sell off part of the business where they have cleared so much debt, that is close to being profitable, and is expanding its route network. Absolutely the wrong thing to sell off, stick with it and lets see what happens in the next 12 months.
I don’t sign up to the general thought of selling. This company is ready to fire ahead. Nobody is acknowledging its growth indeed the fact it is not only surviving in lala land but making a profit and growing. Company has tenacity. My thought is we should not be selling off part of the company but sticking with the fight !!
Unfortunately the general thought Is not along your line.
Maybe that is part of the plan as isn't the FedAir ownership separate to the FJ Zimbabwe ownership, the sale of the later thus giving some capital to the support the former???
With SAA cutting back on routes and possibly going bust there must be an Opportunity for Fed Air / Fastjet if there is a will to make a go of getting this mess we have got into sorted.
Are things that bad nobody is talking about this company anymore?
Why is everyone bailing out.
Well maybe company is trying to sweeten the deal for the sell off. All seems very shady. The one that gets me is often they say they need running funds and only have enough to last until the following month. Not brilliant comments to make if your trying to sell that bit to another. Tends to give the opposition bargaining power Or is there another rational reason. What I want to know is if this deal goes through what will be left and what is the future ??
Those routes will go with the disposal if it happens so not be of any advantage to us.
Already posted apols.....
plans two new direct routes....
https://www.chronicle.co.zw/fastjet-plans-two-new-direct-routes/
Well looks like everyone is getting out nobody wants to get stung.
Simple there’s no money left to fuel jets and pay expenses. The transfer will go through like the Flybe deal for all the right reasons and the shareholders will get stuffed the same way Flybe shareholders were. Nothing we can do as we’re not the majority shareholders. We will just be left with a brand... what good is that to us ???
Old news. Job vacancies were advertised before Christmas. This will all transfer over if the sale goes through. Working capital and debt is the issue. Anyone smell a rat. Flybe comes to mind. Think we will all get stuffed at the last minute again!!
Lets try this link instead.
https://www.fastjet.com/en/fastjet-blog/feature-articles/company-news-new-routes-announced
https://twitter.com/fastjet/status/1189527577683267584?s=19
This is good news, route expansion! ??????
So why the heck are the board looking at selling the airline off !!!??????
Think this is a done deal .... although anything could happen down there. Don’t think our shares will transfer over. What concerns me is the possibility our company sells off effectively the actual flying business and just becomes a brand name with the suggestion of buying up other successful businesses.... where the money to buy those would come from is another question. It’s interesting how debt is dropping and income is rising, but all this benefit it’s proposed to pass over. Bizarre really after years of debt we just getting close to getting rid of it with rising income and we’re going to pass that over for short term working capital. Personally think of all the times they should have turned to shareholders this is it
So reading the RNS released the other day, which is basically what you have put out, how does this stand for the shareholder?
If the company offloads FJET ZIM to a consortium what as a company are shareholders left with? Or are our shares transferred to the new company? Anyone any ideas?
Low-cost airline, Fastjet says it is yet to get funding meant to keep it afloat beyond March this year.
In November 2019, Fastjet said it is looking to offload its Zimbabwe unit to a consortium led by its major shareholder, Solenta Aviation, for US$8m (about R118m at current exchange rates).
https://www.fin24.com/Companies/Industrial/fastjet-still-to-get-lifeline-beyond-march-2020-20200127
Shares in Fastjet PLC (LON:FJET) took off on Monday morning, rising 2.9% to 0.175p on a trading update.
The cash-strapped African airline said revenue, including fastjet Zimbabwe, for 2019 is expected to rise to US$42mln from U$39mln the year before, while the loss for the year is expected to narrow dramatically to somewhere between US$7mln and US$8mln from US$65mln the year before.
As at 23 January 2020, the group had cash reserves of US$ 3.0mln with no restricted cash.
Ok what’s going on. Share price going up on the back of some decent buys. Why ?
I was more concerned with the sales. The economics don’t make sense as there are selling fees which make it a total loss to sell
I don't know. Maybe they are buys from people thinking twenty pence is about as much as they are prepared to go on this share. After all, twenty pence buys you a lot more shares today than it did the past.
What causes all these small share sales which must cost more in fees ??
What do you mean.