George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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No flights until Sunday
Not looking good at all, having difficulty with E190 lease
Trading to 14Dec
Unless they can resolve stated issues
My guess is Solenta will get the lot for a dollar, always the plan in my opinion
Seems FJH not operational today or Friday
Ethiopian Airlines’ partner in Mozambique, aptly named Ethiopian Mozambique Airlines, has commenced operations from its base in Maputo.
On the occasion did Ethiopian Airlines’ Group CEO Tewolde Gebremariam say: ‘The launch of the operations, which takes place through a partnership with Ethiopian Airlines, is expected to promote the necessary and improved air connectivity in the country and abroad, thereby increasing the share of African indigenous carriers in the continent’s air transport market. I want to thank the Government of Mozambique for its visionary decision and policies that allowed the start of the activities of Ethiopian Mozambique Airlines‘.
The new airline will initially serve seven routes out of Maputo and offer flights to Nacala, Nampula, Beira, Quelimane, Pemba, Tete and Chimoio according to information received from a source close to the airline.
Having commenced operations with Bombardier Q400 turboprop aircraft will additional aircraft of Boeing B737-800NG type also be used as additional routes become operational.
The initial start date of 01st of October could not be met at the time due to additional regulatory paperwork which Mozambique’s regulators could not process fast enough to meet the planned start up date, leading to the postponement of flights until the beginning of December.
https://twitter.com/whthome/status/1070084886801932288?s=21
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Now in direct competition with Fjet Mozambique
ripley94:
I can tell you myself! I used to post regularly on the Interactive Investor board but not with this username, and not for six months since it became a very intimidating and unfriendly place to be.
I began using this one as soon as I discovered it with its (then) very welcoming and knowledgeable group of users.
I'm not sure what you mean by having "[my] own board on a board" [forum]? But either way, despite your typo (I am "marksman" not "marksaman"!) if someone is posting there under a similar name, it's not me.
fastjet is winner of the WTA's “Africa’s Leading Low-cost Airline" Award, for the third year running. So we must be doing something right. Good timing at this percarious stage of our development IMO. Hope the BoD have noticed.
https://www.worldtravelawards.com/award-africas-leading-low-cost-airline-2018
Fastjet is looking for Captain and First Officers. The ideal candidate should have Zimbabwe citizenship or right to live and work in Zimbabwe, CAAZ ATPL (Captains) or CPL (First Officers)
ihararejobs.com/job/captain-an…
WOULD I SELL OLD SHARE THEN BUY SAME ?? ANY TIP .
"Sorry if I'm being dumb - where is the offer price actually specified? I couldn't find it in the docs."
RNS - Proposed Fundraising and Equity Refinancing - Fri, 16th Nov 2018
Section 4. Details of the Placing
Section 5. Principal terms of the Open Offer
Sorry if I'm being dumb - where is the offer price actually specified? I couldn't find it in the docs.
Sorry if I'm being dump - where is the offer price actually specified? I couldn't find it in the docs.
The rest of this article is also quite interesting.... https://atcnews.org/2018/11/26/fastjet-now-majority-owned-by-solenta/amp/?fbclid=IwAR0opnp1qesu4gA37uQMGsHIiuSv4FnOuWcI5gOQcoTRdVbwgw-1UO0Cs80&__twitter_impression=true
Raj786
I really can’t advise you on what to do, if history repeats itself you are heading for further losses, offer shares @1p are at a current discount to today’s SP of 1.60 and that would certainly bring the average down BUT whose to say the sp will stay at current prices, only you can make that decision.
Hello Fjetcrazy
I had confused with open offer share
I already have 151434 share will loss of £2450
I have been offered 863173 entitlements share ? should I buy , IF SO what would be face value after I brought
All with eyes to see understood that when the Tanzanian government poured mega millions into buying new aircraft for their previously moribund national airline, that they would ringfence Air Tanzania operations and give them as many advantages as they could get away with. Pulling traffic rights to Kigoma from Fastjet, denying them the registration of ATR aircraft and other related obstacles placed in their way cost Fastjet millions of Dollars. The Fastjet owners were being frustrated but the big loser is Tanzania because the country’s reputation of doing business here has taken another hammerblow. If I were Precision Air, I would be increasingly worried too now, especially over their links with Kenya Airways, given how this government is dealing with Kenyan investments and trade and especially any competitor of Air Tanzania on the local and regional market‘ said a regular commentator with long experience in the aviation industry from Dar es Salaam.
Share this:
Wow a whole Dollar for Fastjet Tanzania FFS
I hope this helps!
Solenta Aviation Holdings Limited (SAHL) has taken control of fastjet plc after acquiring an additional 24.5% stake in the UK-listed African low-fare airline.
The move comes after fastjet entered into multiple transactions which increased its equity base by at least USD40.0 million following warnings over the past 4 weeks that its weak cash position threatened its viability.
A filing with the London Stock Exchange (LSE) on Friday, November 16, said the South Africa-based aviation holding had agreed to subscribe to 316.7 million fastjet shares for a total of USD4.1 million. Solenta’s stake in the company subsequently rose from 29.8% to 54.3% while its voting shares have risen from 29.8% to 60.2%.
fastjet plc also issued 1.9 billion shares valued at USD24.4 million to acquire four E145s from Solenta and to settle other fees and charges due to the firm.
fastjet plc also issued 898.4 million new ordinary shares to raise USD11.5 million. It will also hold an open offer with qualifying shareholders of up to 411,440,871 Open Offer Shares aimed at raising up to USD5.3 million.
As previously reported, fastjet plc will indeed exit its Fastjet Tanzania unit having entered into a conditional share sale agreement with local management in Tanzania, regarding the sale of its interest in Fastjet Tanzania's holding company, fastjet Air TZ (BVI). Following the sale, valued at USD1, the Tanzanian carrier will operate as a fastjet-branded carrier.
As a consequence of fastjet plc's decision to cease funding its Tanzanian operation in September, plans to induct three ATR72-600s have now been abandoned resulting in the company incurring an early termination liability. According to the LSE filing, along with other settlements, the firm will spend up to USD3.7 million to cover major creditor settlements associated with the decision to stop funding Fastjet Tanzania.
In terms of its Fastjet Zimbabwe operations, fastjet plc said it has also moved to exercise its existing option to acquire the 51% stake held by a local Zimbabwean holding and transfer the shares to a Zimbabwean company in consultation with Solenta. In addition, the decision to acquire the four E145s from Solenta will help generate lease savings of around USD220,000 per month in hard currency outflows for its Zimbabwean operations.
"By owning the existing leased assets (as opposed to fixed monthly lease cash outflows), along with utilising the Solenta infrastructure in Mozambique (e.g. no fixed cost), fastjet has flexibility to scale operations down materially in the event of aggressive new competitor market-entry," it said. "Similarly, the four Embraer 145s represent an effective increase in available aircraft capacity (previously three Embraer 145s used in active service and one as backup), which will support the additional route rights received by fastjet Zimbabwe allowing it to operate double-daily frequencies between Harare Int'l and Bulawayo (previous authori
Air Tanzania first Airbus A220 Gaining shape with a very beutiful paint of giraffe on the tail ,the plane will serve Destinations like Lusaka, Harare and Johannesburg with some other domestic destinations, this brings the low cost carrier FastJet more in danger.
https://bit.ly/2KtkKNv
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With this we will see why fjet reduced service on LUN and HRE , ATCL will take up the 3 x weekly slots on this route probably forcing fjet out altogether by reducing prices until they have done so.
Marksman, the food i was told was much better when it was indeed , buy on board, but when the policy changed some two months ago to the current one free hold bag and snack included on every ticket the quality has been reduced.
Good luck with whatever you decide re open offer, you could well be right.
My areas of concern in not doing so are,
1 Are Fjet buying the ERJ because it’s Solentas way of getting it’s money back or is it really better for our company to own them? .
2 Is it potentially an unofficial condition of Solenta further participation in open offer,
3 Fjet TZ How much are we selling it for? Or are they just taking it for nothing
4 what will Fjet TZ pay for continued use of franchise?
5 Mozambique will come under INTENSE pressure when Ethiopian start its new Mozambique Airline
6 will Nico repeat the TZ mistakes when he opens S A base ?, i e , aircraft and crew grounded while regulatory approval is still in process.
I was on a Fastjet flight recently to nowhere and I thought the food was strange. It looked appealing, it smelt good. When I stuck my knife and fork into it, something odd happened. I couldn’t get it into my mouth. Chunks of it kept falling off and I ended up putting an empty fork into my mouth.
I’m always around, checking in every time I log on!
I am really amazed that fastjet don’t already charge for food. After all, their big sister easyJet has always done so, supplying just nuts or pretzels for free, plus a menu with a variety of paid-for offerings, so you’d’ve thought fj would’ve followed suit. Anyway, good to hear abundant complaints have had the desired effect.
Even better to hear the FO’s opinion about the company’s prospects. That’s helped to tip the balance in my decision to buy yet more in the upcoming placing offer - as if I needed any more. But such a huge discount could be too good to miss, though I know I shall come in for the usual brickbats. Maybe my obsessive optimism might pay off at long last.
Marksman, good to see you on here, the food was AWFUL, better to charge and give something that resembles food, I did mention this at end of flight to crew and they did say it’s being reviewed as complaints were in abundance.
The Flight crew were lovely and i did tell them of my investment status, the FO was very adamant Fjet with survive and even expressed excitement at the prospect of SA base next year as once current ERJ are localised to Zim and Mozi she would miss the fjet flights she is currently operating under Solenta.