Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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Brained Right. 2.4 p today
Worth a punt at 1p maybe
Fastjet has reassured its customers in Zimbabwe that it is still flying the Zimbabwean route despite equity issues under discussion with its shareholders. The Budget Airline announced that it needed more funding to continue operating or cease operations by end of October. However, Fastjet spokesperson Hein Kaiser reassured Zimbabwean customers that the airline is still in business and that Fastjet continues to operate on-time departures across all their networks. Kaiser emphasised that Fastjet Zimbabwe will continue to operate its four daily flights between Harare and Johannesburg. He also confirmed the continuity of the daily flights between Harare and Bulawayo and up to two flights a day between Harare and Victoria Falls, with three weekly flights between Victoria Falls and Johannesburg. Said Kaiser:
Don't cry baby.The future is bright...
New ceo The future is bright .
In bad taste that. Ever watched air crash investigation?
Alarms screaming, engines failed, final prayers being said.
I think it's more hasta luego, or au revoir. I expect to see the name resurface in time, but I suppose for the original private investors it is goodbye to any their money. Anyone buying this now who doesn't want to buy the whole company, well the name really, Is more risk on than I am. Oh well, that's the topsy turvy world of the private investor for you. I hope many in here have covered their losses with some good ones, otherwise for them it's more turvy than topsy.
I of course am sorry for the travelling public. But for the incompetent management, this cessation of services is just fruits. No doubt Nico will have made a fortune for the mess he has created. This airline is fully finished. Goodbye!
ASKY's network currently covers 22 destinations in 20 countries of West and Central Africa. ASKY operates 210 flights a week on its network.
https://twitter.com/jonrhowell/status/1049566748242993153?s=21
.....
Unfortunately without a paid subscription you can’t read the story, but this could be huge and stage 2 in Asky’s development. What does it mean for Fastjet too? #africa #aviation lnkd.in/gDAKeTk
Is this the end to fastjet or is it now time to invest ?
So what next. Is that the end of fastjet ? Is it time to plough our money back in to shares ?
Sad to hear this news about the Tanzania operation...they certainly tried ...but..at the end of the day...they were just subsidising the true cost of flying ....many locals who had the chance paid ..as everyone knows...a cheap price because the investors were paying the rest ...
Air Tanzania...well they arent gonna let the airline run up huge losses having seen that in Kenya....Flying is back to being for those that afford its true cost ..and with fuel prices on the rise..that isnt cheap any more
A monoploy... charging what it wants...maybe so...but that will..i think be more about trying to get a profit at the end of the year ..rather than losses,losses,losses ..you need profits in the busy season to cover the quieter season as everyone knows
Well done for trying Ed and Nico...despite the losses
It really aint easy
all the sell keep coming
Back to 2 weekly, we’d discontinued , still via LUN
Also looks like we have discontinued all flights to LUN
Looks like we have now cancelled the Midweek DAR-HRE flights now.
If an African airline, Mumbo Air or Ganga International , had proposed the idea to operate flights between Edinburgh and London, would they have been given clearance? I doubt it. But a small foreign airline was given permission to fly around Africa, for a while. Then, when the money invested drained out into the pockets of the people it was intended for anyway and people started to grumble it wasn’t African enough, they ditched the BOAC, silk scarf and goggle wearing pilot for someone more African or at least less foreign. But money still seemed to slip through the cracks. Where has it gone?
Disturbing news are emerging from Fastjet’s head office that the airline apparently decided to halt funding for their Tanzanian franchise, the first in the group to take to the skies and for many years faithfully serving Tanzanian with low fares and reliable connections.
It appears, and notably has management not responded at this time to enquiries, that the airline’s top management simply decided that enough was enough, after aviation regulators in Dar es Salaam continued their wait until forever game they played over the airline’s new fleet of ATR72 aircraft.
As said before have the Tanzanian authorities heavily tilted the playing field in favour of their own national airline, with no hesitation over the impact on the industry and the country’s standing as an investment destination – in any case falling apart over the decision to prohibit arbitration and forcing the use of a local court system which is seen abroad as far from independent and allegedly often ready to implement political decisions from the bench.
It remains now to be seen what steps will follow next but with funding from abroad halted is it now anyone’s guess for how long the airline can continue to operate, given the hostile market environment unleashed upon them.
Operations in Zimbabwe and Mozambique however will continue as usual and Fastjet there is fully supported by Solenta, one of the airline’s major shareholders, based in South Africa.
There is growing speculation when Fastjet will announce the launch of operations in South Africa, where Solenta has ready to fly operator permits available, as they incidentally do in several other countries.
Said a regular aviation source in Dar es Salaam when contacted earlier in the afternoon: ‘The writing was on the wall. Our aviation officials delayed delayed and delayed them, which can be seen as obstruction, probably aiming to please their political masters. With Fastjet out of the way will fares no doubt rise and the Tanzanian traveling public will pay the price. Other private airlines should not jubilate, because they too may well be in the cross hairs of those people who want a monopoly again for Air Tanzania which will let them set fares at will. This is a sad day for Tanzanian aviation, for investors in Tanzania, should your story be confirmed‘.
Links to previous articles on the topic:
https://atcnews.org/2018/02/06/fastjet-pulls-kigoma-flight-bookings-from-system/
https://twitter.com/whthome/status/1047889804694900746?s=21
—
Dr Wolfs addition