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I see the mcap is still £54.5m ....what does it have of value to make it worth that ?
Always quick to pick me up, methuselah! Keep it up.
the use of irony to mock or convey contempt.
Obviously you think yourself superior to Oscar Wilde who coined the phrase.
1. comedy based on deliberately clumsy actions and humorously embarrassing events.
If Punch is your idea of the best example of slapstick, then case closed. Go and see a Charlie Chaplin film! THAT’S slapstick at its best and displays real skill, never bettered. IMO of course!
bare - not enough action quick enough. Terrible failures on his part.
anyone elses for that matter. Talk about being underhand and unaccountable. They are getting on towards a third of a billion dollars wasted. Justice is coming sooner than anyone thinks.
verb (used without object)
to look at or think about with great or excessive, often smug or malicious, satisfaction:
The winning team gloated over our bad luck.
No one is gloating here because there are no winners.
Also, sarcasm isn’t the lowest form of wit or humour. Slapstick is. Like a Punch and Judy show when Judy pops up and says ‘Don’t buy that!’ And gets whacked over the head by Punch.
Ha - laugh of the week!
that the share price which went from £44.00 to 16p hasnt fallen more. Oh yes - you holders are lucky. This company will cease trading shortly if it cant raise more money. What idiot would invest now? Nico laughing all the way to the bank! Institutional investors ridden again - PIs shafted.
How nice to see another practitioner of the “lowest form of wit”, sarcasm, back on the Board, blue2guit. It’s ages now since old Bedbug used to enjoy taking the **** out of me for showing any interest in the in-flight magazine though he was banned months ago for his behaviour.
If you’d like to target me with another of his favourite jibes, I was also a great fan of the parrot logo and what bedbug liked to call the “paint-job”.
I often appear on dismal days, many far worse than today, but apologies for not coming up to expectations today.
An absolute pile there of. I will be amazed if we are still in business in 12 mths. Where is Marksman on this dismal day? Studying the inflight magazine, if we still have one? Personally I will be glad when it's all over. My shares have gone from £16k to less than £1k and effectively I have written them off already. With the cash burn here I do not think there will be any appetite by anyone or any institution to invest further here. Incidentally what use is a website like this that no longer presents RNAs in a timely manner, if at all? Apathy rules as evidenced by the paucity of comments here today
For those that are still holders I think you are in luck that there doesn't appear to be much of a market for FJET shares as in any 'normal' market these results, and some of the things that shylock points out, would be really bad news for the SP.
September / October is definitely crunch time and will show whether or not the Grey Bird has any future (though my guess is if it does beyond this point it will require yet more shareholder cash / dilution, and I'm not sure there'll be much of an appetite for either). Good luck all....
The Loan note must be priority to reschedule.
If they don't help by agreeing they will never get paid
Cash flow very tight
Gatwick lease ends in August
A319s to be returned by October but at a cost
New fleet 2x E145 wet lease 2 x E190 dry lease
Emirates connection now working
$10 million loan to be repaid over 10years dating back to Fly540
October 2017 cash flow at highest stress
Air Tanzania is now wet leasing a CRJ100 from South Africa's CemAir in Johannesburg
Cash burn for the the first months not good.
Extra plane going both to Zimbabwe(E145) and two E190s to Tanzania one returned (A319)
They state there is enough cash until June 2018 but little headroom
Heard those lines before.... begging bowl will be out soon... what nut will bite?
As a result of the operating loss for the year the group incurred a significant operating cash outflow which resulted in a cash balance at the year-end of US$3.6m (2015: US$28.9m).
Chief executive Nico Bezuidenhout said: "2016 was a challenging year and these financial results reflect not only a difficult market place but also the overly optimistic expansion plan adopted in early 2015.
"Since I became CEO on 1 August 2016 we have successfully initiated a Stabilisation Plan to address the immediate challenges.
"However, although good progress has been made many of the Plan's benefits to reduce our cost base, and match capacity with demand, have naturally taken time to feed through and as such will only be materially realised in 2017.
"Nevertheless, the effects of the Stabilisation Plan in the second half of 2016 saw fastjet withdraw from a number of loss-making routes and remove surplus capacity such that while between July and December, capacity was reduced by 25%, passenger numbers were only down by 3% and revenues rose by 5%.
"The final stages of the Stabilisation Plan are now implemented and the strong progress we have made means that fastjet's cost base will be significantly reduced by the third quarter of 2017 and that we are well on the way to fulfilling our baseline aim of achieving a cash flow break even position by the fourth quarter of 2017.
"Since the year-end, fastjet has completed a US$28.8m fundraising, entered into a strategic and operational partnership with Solenta, and significantly strengthened our Board.
"With these initiatives building on the benefits of the Stabilisation Plan, and although a number of challenges remain, fastjet is now close to being sufficiently stable and well positioned to be able to consider disciplined growth opportunities in our target African markets."
The group reported a loss after tax of US$48.0m (2015: loss after tax US$21.9m) on revenues up 5% at US$68.5m (2015: US$65.1m).
It said the results in large part reflected decisions in early 2015 to introduce too many new routes, expand the fleet and deploy capacity beyond market demand.
fastjet said its stabilisation plan was addressing these issues and although benefits were already being realised, primarily in cost reduction, the full benefit would only be seen as it progressed through the new financial year.
cash balance at the year-end of US$3.6m. oh dear!
Final result out this morning. LSE always slow on this!
No-one around it seems to update the FB Home Page panels. Almost into June now and “On time performance” is still showing the 88% of April departures on time.
As for the adjacent panel showing any Cancellations and delays, that’s not changed since 11 April.
I know the new management have far more important things to attend to; just hope we’ll see some more signs of what, soon.
Kenya Airways cuts losses...
Kenya approves Jambojet's cheap flights to 11 countries in Africa...
He would be better off doing this in Southern Africa. Of FJET.s two mainland.destinations Mwansa is a pleasant enough city but not on any main tourist route; Mbeya is a distinctly edgy place on a major smuggling route from Quilemane/ Dar to the Congo with some industry. Most tourists arriving to visit rhe game parks transfer to small airlines such as Zanair and Coastal.
André van Eeden
How safe is fast jet?
Yesterday at 20:37 · Like1Reply · More
Hi Andre .Whow I travelled with fastjet on the 24th nov 2016 and returned with them on the 27th November 2016 to Victoria Falls. I must say I was impressed . The flight is so clean,comfortable. I honestly don't know how to describe it any further but definitely I would recommend them anytime to anyone .
Today at 01:51 · Like1