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https://twitter.com/mtanzanianews/status/1059830242414641152?s=21
Announcement on face book Mr Masha has been appointed as executive chairman who is overseeing Management buyout of Fastet Tanzania, well if they pay a shilling for it we will get sweet fany Adams
Information was received from a regular source in Harare that the new government of President Mnangagwa will set aside at least 4 million US Dollars per month for airlines, to repatriate their ticket sales revenues to their respective home offices.
Zimbabwe, under former ruler Mugabe, had literally ran out of cash and remittances for airlines, among many other international obligations, were stopped for lack of hard currency.
The new government, in an effort to boost the economy and in particular tourism, is now reversing those decisions and will begin to gradually let airlines remit their sales proceeds.
Several airlines had halted ticket sales in Zimbabwe unless payments were made with international credit cards and some airlines had threatened to halt flights unless they could get their money back first.
Low fare carrier Fastjet, which has reportedly 2.7 million US Dollars stuck in Zimbabwe for tickets sold from Harare to Johannesburg, Dar es Salaam and other regional destinations, will, when the funds are released, be substantially better off in its cash position, which has been a source of concern and even prompted other, less well informed media organisations, to speculate that the airline may have to close down.
It’s just the same news ramped up in a new wrapper. I think we’ll get through this situation.
The low-cost African airline Fastjet says it must come to an agreement with its creditors ‘within days’ or it will be forced to cease operations
https://www.businessdailyafrica.com/news/Fastjet-pins-hopes-on-creditors-deal/539546-4834800-p8gmxq/index.html
Wow. That’s brilliant thanks for putting the magazine on line
I’ve still got Fastjet Shares. It was a classic suckers (beginners) investment reading & heeding all the ramping advice back in 2012 when it was going to be the new EasyJet for Africa. Boy did I get my fingers burned when I was hooked on a spike. I’ve since had learnt the GOLDEN RULES. NEVER INVEST WHAT YOU CANT AFFORD TO LOSE. Do your own research. Don’t put all your eggs in one basket. My remaining worthless Fjet Shares remind me to think carefully before gambling (Cos that’s what it is for people who read these forums) & just enjoy the rush when you get it right. Best wishes Fjet.
Airline operations of this size cost 100s of thousands per day.
Close to the wire I'm afraid,unless they get another placing.
Considering what is going on in Tanzania...it sounds like the best thing is to boycott the country and keep any business away until something changes for the better
IThis is called squeezing the pips There is no juice left. in the orange but for the liittle there is in the pips. People trying to offload at anything above zero.
This company will pull through. You should not doubt the commitment of the team
Well said JT16. The only saving grace most of the rampers possessed was that weren't too offensive. Some were even amusing, more so now that the share Price is near a penny. I've read some awful comments on various boards, many of them amounting to threats.
Hi blue2.
Not in quite as much as your loss here but have had a few go bust this year.
Why are you holding on and not selling for whatever you can get ? not a dig as its what i tend to do.
£100 better then nothing .
I made mistake in wolfe couple of weeks back massive loss but id averaged down over years and could of at least got £ 1300 back.
Wondered if they give small investors chance to get out before the end with RNS like this one .
I was a big supporter of this share until around 2 years ago, when it became obvious that corruption within the African continent was too rife to allow this airline to become a major player. A real shame, because I think it could have done well.
Truly GREAT NEWS - we can continue to trade at least until tomorrow evening then (beyond October). Such a relief. We will be dead by the end of the week. £16K down the swanee for me (already worth less than £100). Goodbye all loyal and foolish fastjetters of yore. RIP.
The Company continues to review its current cash requirements and is able to continue operating beyond the end of October due to some improvement in trading and cash generation. The headroom available allows the Company further time to continue discussions with its major shareholders and creditors.-
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https://www.moneyam.com/action/news/showArticle?id=6187754
1 x jro 2x Mwa, aircraft back in service sooner than anticipated
Update
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Two MWA services planned for today .
https://furtherafrica.com/2018/10/27/south-african-airwayss-zimbabwe-revenue-up-in-the-air/
@fastjet You guys are not serious, you change the flight without any alternative, a technical problem you must have standby alternative, if you fail to transport me from Mwanza to Dar today, you will ruin my career and professional, you will pay for CPA fee.
With one Aircraft in NBO , and FJH technical, only two flights operated yesterday, and no flights as yet for today, looks like only one mwa will operate this evening subject to aircraft serviceability.
Received direct message from management.
I enquired whether they would be operating in November as per last RNS,they state business as usual in the interim and would advise further matters should they arise.
I guess if there's no funding options like the last time it could well be cessation of operations.
Tz ops may well end, its getting very close to the deadline for Tanzania funding, all operating as planned for now.
Well is this going to crash and burn