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Bezuidenhout said that between July and December capacity was reduced by 25%, passenger numbers were down by 3% and revenues rose by 5%.
I see that as a glimmer of hope too. We need to reduce the number of passengers carried at a loss and Nico is doing that. We will have to wait to see what the position is now. My hope and belief is that the situation will have improved. The announcements that we will have an Embraer fleet and that we will be operating more flights on existing routes make me optimistic too.
I absolutely agree with those sentiments too, Ronwin. Patience is still required but I think with more specific indicators of the company's strategy coming through, we have good reason to maintain our optimism for a brighter future
https://wolfganghthome.wordpress.com/2017/06/07/fastjet-losses-double-as-ceo-blames-former-management/ It's interesting that Wolfgang mentions the top-heavy management salaries in the new line-up. Let's hope they do something to justify them.
As usual a fair and impartial assessment from Wolfgang, if unusually critical – a timely reminder for any of us with our head in the clouds! Despite that (admission!), I do think that, given the huge amounts of dollars being bandied about, and that many of us have chosen to place our faith and hopes in Nico’s team, their “major wage strain”, as Wolfgang refers to their remuneration, was a necessity if we were to be ‘rescued’ last year by anyone with the credentials he had, though I am aware that some better informed than I don’t rate them as highly. One thing Nico got right, which Wolfgang has chosen to imply some doubt in his choice of headline, is blaming the “former management” for the doubling of fastjet’s losses over the previous year. An indisputable fact surely as anyone here who lived through the “Winter of our Discontent” must surely testify?
To reduce capacity by 25% and yet only loose 3% of passengers is in itself a huge achievement,it does however show how flawed and how out of synch the business model was.
Wolfgang was a supporter of the old team and certainly had access to them for press comment Nico has decided not to go down that path by not inviting Wolfgangl to the office whilst he was in South Africa. Nico has a tough job to safe Fastjet from the previous disastrous management