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For someone who lost a fictitious amount of money a long time ago you're infatuated with Fastjet. hardly no time for them at all.
Why does a bit of good news make you so angry?
shylock, as you say I suspect this was at Stelios' behest rather than something Nico actively sought. I also wonder if it basically signals an 'exit' by Stelios as he's been given a chunk of cash - for the only meaningful thing of value / connection for him - and has otherwise 'written off' his shares and prior investment, but is hedging his bets (by not selling out completely) just in case Nico does cause the Grey Parrot to rise like a majestic Phoenix!
back in 2012. He has given it 5 years and Fastjet is a unmitigated disaster!
" And Stelios seems to still own the best part of 8m shares and is back onside and supportive, judging by his comments."
Well one would assume that he now feels that having basically gone completely backwards,almost to the point of starting from scratch once more....things can really only go forward. He certainly would be supportive of all the cost control measures put in place
We've been hearing that for years - Didn't Ed talk about it non-stop before he left????? then we got hit with another $100m loss... they mislead investors all the way... no time for them at all.
"From the decisive actions thus far taken by the new Management and Board, and early indicative outcomes, I am encouraged that fastjet's direction of travel is now on the right course"
If ever Stelios was so detached from reality - the above shows it clearly. After $400,000,000.00 of losses - this airline is near the end of the road.
"These steps are having the desired effect and accordingly fastjet aims to achieve a cashflow break-even position for the final quarter of 2017. "
That would appear to be the trading statement.... mind you...beware the term "aims to achieve" ...suggests they are not totally convinced it is going to happen...but will give it a try !!
First rise in six months :-) But every one welcome!!!!!
I agree it is good that they have removed the significant risk associated with the brand by now owning it, however given the general lack of cash on hand in the last set of Finals I'm surprised that they have a 'spare $2.5m' to pay for it.
It's also ironic that the RNS was referred to as a trading update but didn't really give one, though instead contained vague statements about cash flow and expansion to try and give the SP a boost / the announcement a positive spin!
IMHO until there are some hard numbers demonstrating improvement / turn around this is still NOT an investable share.
FastJet making ‘steady progress’ with turnround efforts....
"Sir Stelios – still a top-10 shareholder – stressed that he is not abandoning the company"
The grey parrot is now officially ours!
Thanks Fjetcrazy, have now read the whole pdf. but is does not say much for our efficiency if we cannot get our own magazine on our own website, it is not rocket science.
So Far Automatic Reply pasted below.
Thank you for your email to firstname.lastname@example.org. We value your views and, whilst as a quoted company we cannot enter into a dialogue with singular shareholders, please be assured that we take feedback from our shareholders very seriously and where appropriate we will take action. In addition, we regularly communicate all material developments to our investors via the regulatory news service and will of course continue to do so in the future.
Thank you for taking the time to give us this feedback.
CEO fastjet Plc
PJ , if you download PDF you can see whole magazine
If you get a reply from ”Brenda” at Customer Support team, you can expect 3 more, as I did back in March, each given the same Enquiry Case No and a promise that it would be reviewed by their support staff.
There was vague evidence of this when copies of reponses from Oli and then Hein and even one Batisai were provided, since when it all disappeared into the ether.
I look forward to nearing that you have better luck.
Ditto with my responses from just the two pages on what does appear to be the replacement magazine “fastjet Places”. But nothing like L&M’s online version of the complete Travelsmart magazine that one could easily read page by every page and appeared promptly on the 1st of each quarter.
I have sent an email to Fastjet regarding both these faults, lets see how long it takes to resolve.
Well it seems that they have one, but due to an unbelievable omission on their own website front page bottom link it still shows the old version. I have also not been able to view anything other than 2 pages on the Twitter Link
Must be a blip as the reverse are showing VFA JNB SEVERAL sold out into july
Pj/Marksman is the above not the latest magazine?
from end of this month. Did we know that ?
We were assured that the next issue of Travelsmart was imminent. Surely our Aircraft are still not using one that ended at end of March when we are nearly in July ?
Thanks for tracking that down, Fjetcrazy – a first I think? Memories of seeing the frequent video interviews Ed Winter used to provide.
But a pity they didn’t give Nico his own lapel-mike; or take him off to some side-room. I found his replies virtually inaudible throughout, thanks to being drowned out by the Tannoyed music unusually loud at an exhibition.
To hear the interview click on link once it loads scroll down to about nu4 video