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No i don’t, they are implementing what was stated in the RNS, I’m concerned that Mozambique is now a difficult trading area with the arrival of Mozambique Ethiopian Airline who have deeper pockets than ours.
Do you think this will have any effect on the sp?
Fastjet Mozambique and national airline LAM have concluded a code share agreement, which will see the two airlines cooperate on several routes across the country.
First to come into effect will be the Maputo to Beira route, where the codeshare arrangements commence on 25th of February.
This will be followed soon thereafter by operationalising the code share arrangements on the routes from Maputo to Tete and Quelimane, which will launch in March.
It is understood that this arrangement could be expanded to include further routes, aimed to stem the loss of market share to a newcomer in the Mozambiquean skies.
The arrival on the scene of Ethiopian Mozambique has clearly sped up the cooperation talk between Fastjet and LAM, which was first floated a year ago but little has happened until the new carrier took to the air.
I think I mentioned the pips analogy a while back when the now squeezed and dried husks were at a higher price than today. The oranges became Mandarins and then Clementine’s , and then Cherry oranges, and then pips . You can still squeeze a pip and what you’ve got left is a husk. A shell, a shell company. It’s a very sad story. I feel for participants in this adventure. More than feel, I know for I have been a character in other stories that have not ended well. There is a well established business in place whose function it is to encourage people to chase a ball rolling down a hill. A dog will do that all day long and love it. Dog? Isn’t that also a market term?
I wish to assure you all, that we are busy doing all that we can ensure that Fastjet Tanzania will start operating soon. It’s not an easy task but we have a dedicated team working full time. Once flying again in our beloved sky’s, we shall start the rebranding process.
No oranges left only the pips, squeeze them as hard as you like.
This debate continues ad infinitum. How can you buy anything unless someone sells it to you or vice versa? I go into a fruit shop wanting to buy an orange. There’s only one orange and the guy says ‘ I just can’t sell enough of these and that one I’ve got left is 20 quid’. Right, I’m not buying it. Or , I go into a fruit shop and all I can see is oranges and they’re on sale for a penny a piece. Ok , I’ll have 2000 of them. No one should pay any attention to the buy and sell figures. They don’t mean anything.
I'm glad you raised this. i have long suspected that the multitude of 1.35 transactions were in fact buys. I know it is argued that for every sell there is a buy. Could the wisdom of better informed posters shed some light?
Good afternoon all
I am new to this board but have been a holder of FJET for several years and like everyone else lost a fair amount, or at least a fair amount for a small investor like me. Unfortunately I also got stung with FLYB so my share betting history I not great, and I bailed out of FLYB yesterday and decided to average down a bit more on my FJET.
My question is why is my 5302 purchase yesterday lunchtime showing as a sell when it was a buy, I got the purchase at 1.35 not 1.50 but should be shown as a buy. To this extent how many other share trades showing sells are actually buys? Does anyone know why the share trades are showing incorrect information?
Reduction from four to three daily services.
l think we have all lost " up the creck
I have noticed a sharp reduction of flights out of Maputo, this despite the update from the company that operations were set to increase, my guess is that additional Airline Ethiopian Mozambique is having an impact on traffic, so much so that we have no schedule service on a Saturday, not looking good.
Thanks for keeping this moribund board going, Fjetcrazy, with your regular posts and news updates. Much appreciated, as ever, by
be required to apply for a new Air Services Permit (ASP) after its original one expired on January 3, the head of the Tanzanian Civil Aviation Authority (TCAA) has said.
Speaking to The Citizen newspaper, Hamza Johari said that the dormant LCC had failed to meet the air transport regulator's criteria, including payment of licence fees and the settlement of the debt it owes the TCAA. According to him, Fastjet owes the TCAA, other service providers, and assorted creditors a total of TZS7 billion (USD3.028 million). The regulator has since barred one of the E190s Fastjet had been leasing from GECAS - 5H-FJH (msn 19000167) - from being returned to the lessor pending full payment of its dues.
The TCAA grounded Fastjet in December last year citing a number of shortcomings including a lack of aircraft, frequent flight cancellations, and a lack of suitably qualified personnel.
On December 17, 2018, the TCAA gave Fastjet 28 days (i.e. until January 14, 2019) to resolve the oversights. Aside from addressing its capitalization woes, the regulator also required Fastjet to submit a robust business plan and to appoint a suitably qualified Accountable Manager.
However, Johari said the plan that Fastjet submitted on December 22 did not adequately prove, to the regulator's satisfaction, that the airline had sufficient funding to resume flights. Furthermore, Lawrence Masha, who acquired control of the airline from fastjet plc in November last year, had attempted to appoint himself as Accountable Manager despite being unqualified for the role.
The director general added that even after advising the airline to appoint a properly qualified person to the position by the January 14 deadline, Fastjet failed to do so.
"Fastjet requested for more time to prepare themselves so that they can sort out the matter. We agreed - and we are ready to advise them because our goal is to give room for locals to invest in the aviation industry so that we can have healthy, effective competition," he said.
"They will have to apply for a new licence if and when they are able and ready to do so. We are willing to give them all the support needed."
Masha was not immediately available for comment but has previously confirmed the search for new investors is underway.
If you read my posts you will easily understand why I say No!
We have yet to stabilise what’s left of Fjet.
Why do you say noooooooo Fjetcrazy? What is your reasoning being this? Do you think Fjet is definately a gonner or do you see some light at the end of the runway? Just interested in your thoughts thats all.
Haha,..... be optimistic that the company survives! Give it 3-4 years and I reckon this will be a good earner. It’s buying time now and keep fingers crossed.
Does anyone expect the sp to rise at any time soon? Any thoughts anybody?
Dar es Salaam. Yesterday, the Tanzania Civil Aviation Authority (TCAA) said that the validity of the licence of Fastjet Tanzania expired on January 3, 2019.
This was after the troubled airline failed to meet the air transport regulator’s criteria, including payment of licence fees and the relatively huge debt it owes TCAA.
But Fastjet’s executive chairman and majority shareholder Lawrence Masha told The Citizen a few days ago that discussions with TCAA on the related issues were still ongoing.
“Everything will be made public in due course. Kindly give us room so that we can finalise our talks with the regulator,” Mr Masha said in an exclusive telephone interview.
For his part, TCAA director general Hamza Johari told The Citizen yesterday that Fastjet – which owes TCAA, other service providers and assorted creditors a total of Sh7 billion – was required to obtain a new licence before January 3 this year, but failed to do so.
“They (Fastjet Tanzania) were supposed to protect their business licence by paying debts to TCAA, and also pay operating licence charges,” Mr Johari explained.
Fastjet requires an aviation licence which enables it to operate two types of services, namely: charter services, and scheduled flights.
The fee for each of the two services is $1,200, and the airline needed to pay a total of $2,400 (about Sh5.4 million) for a new licence before January 3, 2019.
On December 17 last year, TCAA issued a 28-day notice of intention to revoke the cash-strapped Fastjet’s operating licence over what the Authority described as ‘poor management’ that resulted in frequent flight cancellations.
In the event, the regulator required Fastjet to – among other things – pay all the debts it owed to its service providers, including unpaid licence charges to TCAA, and also officially appoint an ‘accountable manager’ who must be an expert in aviation matters.
The raft of conditions also included requiring the airline to prepare a business plan which would, among other issues, outline the airline’s future management structure.
This was deemed important after a change in Fastjet’s shareholders as announced late last year.
“Fastjet did not meet even one of the conditions that we outlined for it to qualify to operate in the country (Tanzania),” Mr Johari told The Citizen in the interview – adding that this was one of the reasons which led to the ceasing of its operating licence.
“They will have to apply for a new licence if and when they are able and ready to do so. We are willing to give them all the support needed.”
In the meantime, TCAA would hold Fastjet’s aircraft until the company pays all the debts it owes the regulator and other service providers. Earlier on, the regulator had revealed that Fastjet had only two aircraft (E190 Embraer), one of which was grounded for maintenance, while the other was recalled by the lessor.
According to Mr Johari, Fastjet did put together a business plan which it submitted to T