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Fastjet in Tanzania has issued a notice to staff of retrenchments by the end of September and is asking for those willing to accept voluntary redundancy to come forward in the next 3 days! According to the letter from the General Manager, staff from all departments will be affected.
This is a RAPID and to be commended response to the fast changing market in Tanzania, ATCL have as I pointed out weeks ago flooded the Tanzanian skies with unsustainable cheap fares and available seats , this will continue until the 787 heads off to longhaul routes and will not improve anytime soon as Atcl will then have the A220, we were caught with our pants down .
I’m hearing SA is being spearheaded and hoping to start operating there sooner rather than later.
At the time of the capital raising wasn't there a deal to buy FedAir? What has happened to that???
One assumes that's where the Toulouse three come in....And why Nico is sooo quiet with his head down 24\7
July 2018...
In light of the difficult outlook for operations north of the Limpopo River, the Group has now turned its attention to the South African market where, earlier this year, it commenced the process of exercising its option to acquire local carrier and brand licensee, Federal Air (7V, Durban Virginia).
"The intention, beyond this current financing, is for the Company to explore financing and/or joint venture options in South Africa to support full-scale entry into that market," it said. "As the largest aviation market in Africa, the Board believes that South Africa, particularly routes to and from Cape Town, is[sic] strategically important to Fastjet, which can utilise the current FedAir platform as well as fastjet management's relations and track record in the country."
The FedAir acquisition is dependent on all relevant South African regulatory requirements being met and completed. The Group expects to commence Fastjet South Africa-branded services in South Africa no later than early 2019, subject to obtaining the suitable additional aircraft for its fleet and the associated financing