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The real problems is that management's hands are tied and always have been. African governments either protect their national carriers or they are hamstrung by foriegn exchange restrictions and so refuse FJet repatriation of foreign currency earnings out of the country it has been earned in.
FJet's only hope it can stay solvent until the las test crop of ,emerging nationtional carriers go bust as they surely will.
Say you with such conviction, they most DEFINITELY HAVE NOT RUN OUT OF OPTIONS
Look at the figures and pull the wool from over your eyes. Its finished under current non leadership.
A “pittance”? What planet is this girl/guy wired to?
Fast jet is currently valued at over £80m and you call it a pittance? Seriously, you’ve been saying repeatedly for almost 4 years (since you lost your money) that fastjet is about to go under. Now you’ve stated that you believe it has 3-6 months left?!?
Well, yes, there’s a chance it will go under, but only a chance. A chance that you’ve been gleefully hoping for. You’ve been wrong EVERY single time so far about the demise of fastjet. Let’s all hope that Nuri123a is wrong yet again!
Their share price is a pittance and they have run out of options in terms of more finance. Good luck to them - they need to say their prayers for a miraculous recovery.
Perhaps Ethiopian don�t want Fjet around , they were certainly the reason we did not succeed in Malawi 🇲🇼, as part owners of Malawian they insured we did not get Blantyre link with Lilongwe.
With regards to Mozambique the Government have made any Airline that wants to operate in their country are most welcome, it remains to be seen if Fastjet have a foothold with link up to Mozambique s National carrier
Final nail or proof of market ?
Ethiopian to set up Mozambique Airline
They are running out of options having only secured a small loan against their Zimbabwe locked funds
With very little headroom and a negative cash flow Solenta is certainly one of those options
Note my comments about Solenta above are pure speculation on my part, I have no connection with them, or have seen any such stories.
Fastjet, the low-cost African airline will be announcing its audited 2017 final results by Friday 8 June 2018...
three days later......
By end of month. Highly suspect
buxton1, a very curious RNS as they didn't have to say anything as long as the results were published before month end. As you say there must be some major issues being worked through and / or some big changes coming (Solenta taking it private??).
Perhaps Nuri123 will get his wish....
Well obviously they are not signed off due to lack of funds
Fuel, landing fees, wages, rent, website, mag, after dinner mints.
Solenta seem to have their paws stuck in. Where is all of the money dissappearing to? They have three tiny aircraft - and are still burning through a fortune. Something dodgy is going on in my opinion.
Start with a billion and set up an African airline. It's an old joke but is it really a joke? Mind you, the main people involved in this have not lost a penny. I will say one thing for Fastjet, the fact they are still in business is astounding.. I reckon someone will buy them
Play the lotto. Better chance of winning. This is a tin can operation. Pull the lid off and there's nothing inside.
There was certainly a great deal of "hope" that Nico was going to do great things
Since then .....the SP has nose dived from that inter-day price of 43p to a limp along Ask of 16p
Hardly seems worthwhile sticking to all the daily news and "hopes" that always seem so far away
I am sure that with even placings and enough strategies they are sure enough to eventually come up with one that finally "works"....I wish someone would give me as much money to burn to try such an adventure
Oh Nuri123a, Nuri123a, Nuri123a....what are we going to do with you....?
what you say on here Mr Nuri or you my find yourself hauled in front of our Great Leader on charges of insubordination and sedition.
I can do whatever I want in terms of stating the facts. Can't see Fastjet surviving anymore than 3-6 months at current burn rate. A great concept killed off by incompetence
Nobody disagrees with you but there's no point in ranting.They can no longer go to the Institutional investors so we shall see what will happen, its going to be a bumpy ride
I'm not bitter - I'm dissappointed at the level of disrespect this company has shown share holders. One third of a billion should be enough to start several airlines. They ****ed people's money away and took their salaries - Ed got paid nearly a million. They failed on almost every front and misled shareholders at every turn - Ed Winter in particular put rose tinted glasses on every share holder. How many times did they raise funds - I lost count and at each stage these institutional shareholders thought it would be another easyjet. My only regret is that I didn't listen to the trolls - they could see well before me. I was a complete sucker Blue2guit.
If memory serves me right you lost a small fortune here yourself' so you are also a sucker, are you not? Some of us only "invest" what we can comfortably afford to lose. First rule of investment! Best wishes anyway.
Nuri, welcome back, you were right! We stubborn old to��ers are likely to lose all our money. I hope I am not left as bitter as you though. One should never let sentiment rule logic. I am a sucker for lost causes though.