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Air Zim will never be revived - it is a scam and no investor will touch it. There was an attempt to relaunch as Zimbabwe Airways - guess what - all the money has vanished. Corrupt from top to bottom, like its Zanu-PF paymasters. SAA is at risk of going under too - nobody is booking because of the ongoing strike. This is a risk, but it could just work. The new CEO understands Zim and how to get things done.
Pokerchips, EXACTLY, and that’s the plan all along
Same was said re Mozambique until Ethiopian came along, the same could happen in Zimbabwe, what you fail to mention is the plans re revival of Air Zim and concentrating on fact Zim has only one aircraft,
Level 2 looks like this is the bottom, so I've taken a position. If the deal goes ahead this should correct sharply upwards. My interest here is that I am originally from Zim, and regularly use the Jo'burg - Bulawayo flight. There is only one flight at present with SAA, which is always full. There are over a million Zimbos residing in SA and who travel between the two regularly. Internal flights in Zim are now much reduced, as Air Zim only has one very old functioning plane. Flights are usually full, but people are desperate for an alternative. Air Zim is known locally as Scare Zim! There is a market there for the taking if they can pull this off.
Is it worth loading up on shares? Interesting drop, it's not like they have the winter seasonality like European airliners.
If this strategy change goes ahead....the revenues will be significantly lower ( and the costs too) ...but...you have to ask yourself.....what exactly is the point at that stage of staying on the LSE AIM market and paying all the costs related to that.?
This "could" end up being delsited from AIM ...and either end up on NEX ..or...listed purely in Johannesburg... as more cost effective for a smaller company
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pawnsacrifice :
" by showing that they've had no placings since the measly $500k raised last year "
I think you appear to have missed the $10m fund raise in June 2018
https://www.ch-aviation.com/portal/news/68556-fastjet-secures-10mn-in-funding-moves-to-acquire-fedair
The abuse, the name calling, the half page posts regarding the company’s health trying to give the impression of detailed analysis to back up their mate’s posts that say this is going to hit the roof. How much do they pay these people? I couldn’t do the job. Everyday you take calls or e mails from your bosses saying, ‘I’ve got a big pile of poo that I want you to dispose of.’
Its got nothing to do with denial and its not "my shareprice." I just turned up earlier after the news to ask a question and you told me porkies about placings when theres been none all year and last years was tiny !!
Just a bit much to see you posting that the co, tell lies after that lot is all.
Might buy a few in the morning though as can see the possible turnaround story so long as the lossmaking division is sold that is.
On this.....including raising equity capital AND / or a restructuring of the Company.
If they sell on terms of RNS, then they won’t need to raise any cash as they’ve said this will provide sufficient funding till 2021. That’s why ‘and/or’ is used..!
Are you still telling your lies about placings iknowthis. I exposed you as a liar this afternoon with your claims by showing that they've had no placings since the measly $500k raised last year and now you're prattling on again?
I know it sounds harsh to talk to you this way but you were so wrong with your claims after the RNS and so unwilling to admit it it just has to be said.
" New CEO"
He is an ACTING CEO....
" It’s a commendable strategy "
The plane is in a nose dive and feet from hitting the floor....so I guess you could say that it is commendable that the pilot is looking at the proposal to lift the front end ...hummm
" The Group is therefore currently in active discussions with certain of its major shareholders to explore various options including raising equity capital and / or a restructuring of the Company"
.....including raising equity capital AND / or a restructuring of the Company
Latino
You are obviously serious and I’m lost for words
It’s a commendable strategy from new CEO, if we think about it, the company was return to profitably this year end!
But 2x issues have prevented this Moz - supply and demand issues + Zim - volatile and uncertain market conditions including currency devaluation x15 (don’t think any company can cater for this!)
So what new CEO has done to arrest losses and mitigate future risks:
1) 21st Oct - MoZ Suspended flight operations,
2) 27 Nov - Sale talks $8m + $8.6m current liabilities and future aircraft expenditure transferred to buyer + Option to buy back business in 3-5yrs
3) 26th Nov - Sold it’s share in Tanzanian Fastjet Air. Now into liquidation but no longer relate to the company.
I would say that’s proactive and pretty impressive when considering the CEO has only been in charge for less than 3 months!
New CEO online only took over a few months ago, he deserves a chance..doesn’t he? Let’s see but you have to say he’s trying for a change!
It looks like the CEO is making a fundamental change here, he is strategically changing the direction of the company naming it as ‘Franchise House’. He is acknowledging the losses of long term shareholders and realises these losses of hugh and are no longer sustainable. This
could be the start of a turnaround and change of business direction going forward...
Mark Hurst, fastjet Chief Executive Officer, commented:
"The Disposal, if agreed, approved and implemented, would be expected to de-risk the significant uncertainty and cash drain that shareholders have historically suffered and allow the Group to continue operating under a more stablised and simpler business model. This revised strategy allows the Group the opportunity to create a single fastjet brand throughout key markets in Africa, leverage its key intellectual property of its brand and airline management solutions and invest in viable, already-established airlines where it can."
The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business. The Group's strategy is to focus on franchise and providing airline management solutions to additional airlines in Africa that are independently owned, enhancing its overall revenues from these. Additionally, the Group would aim to only own airlines once they were cash generative and profitable, so avoiding the initial costs and significant cash losses through the airline startup phase and from operating in Africa's sometimes uncertain trading environment.
(Reuters) - Fastjet Plc (FJET.L) said on Wednesday it is in talks to sell its Zimbabwean operations to a consortium led by its biggest shareholder Solenta Aviation for $8 million, a deal which could help the South African low-cost carrier stay alive until 2021.
The company, whose shares plummeted 32% to a record low after the announcement, said it was also in talks with some of its major shareholders for a cash call.
A company with that much debt is'nt going to turn around.
$65 million + $7 -$8 million, especially if they are dumping the revenue creating sources.
Thats a huge turnaround a11gar. $58m to the good. Can see why the placings stopped last year.
Nuri123 went out at £60000 2 years ago must of thought there was money here at one time
Question is does it go broke or does the company turn round
Last year loss $65 million
This year loss $7 -$8 million
pawnsacrifice.... you need to take a long look at this company... it undertook multiple raises for many many millions.... going back to 2012, $500k is probably the smallest. Read their RNSs if they are still there.
This must be the strong sell
Good. But where is the bottom here never find
Make that as the seller now out..this will bounce hard as there is no real justification for this to drop over 80% in last 2 days and with today trading statement confirming sale talks..it’s a lot positive than rumours of admin..gla
nuri is short!
I have lost £300 an hour with this company.
I might step back in when it hits a rock bottom.
Maybe in a weeks time.