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Don't have an account? Click here to register.fastjet sees dip in passengers despite network expansion
Wed, 04th Nov 2015 15:41
(ShareCast News) - fastjet has seen a drop in passengers despite a recent expansion of its network.The Tanzania-based airline carried a total of 73,758 passengers in October, a drop of over 2,800 passengers from September.However, the airline has seen a 23% year-on-year increase in the number of passengers carried.It also had a load factor of 63%, slightly down from 64% in September and down from 74% in 2014.That's due to an increase in the amount of seats offered across the network by almost 14,000.The airline's new Harare and Victoria Falls were also included in the latest statistics, but with the service only starting in late-October it has not had much of an impact.Chief executive Ed Winter said the airline's load factor was significantly affected by a change in market demand in Tanzania due to the Presidential elections."We expected a downturn in the few days leading to the election and on the day itself."However, due to the unusually competitive nature of this year's elections, people tended to suspend travel plans until the inauguration. "Winter said there have been no significant reports of civil unrest in the country and said bookings are beginning to return to expected levels.
More News
25 Nov 2016 09:02
Fastjet shares dive after chairman resigns
(ShareCast News) - Africa's low-cost airline Fastjet tanked in early markets after its chairman resigned due to the company requiring further capital. Chairman and Director of the company Colin Child stepped down as he felt it would be inappropriate to stay on after the company decided to initiate a
Read more3 Oct 2016 16:55
Fastjet sells Airbus A319 to Avtrade
(ShareCast News) - Fastjet, an African based low-cost airline, has entered into a binding sale agreement of its solely-owned Airbus A319 with Avtrade. The consideration is to be paid $8m in cash with a 10% deposit payable on signature of the agreement and the balance on delivery. Included in the ag
Read more21 Sep 2016 11:03
Wednesday newspaper share tips: Fastjet, Pennon Group
(ShareCast News) - Fastjet has set itself from apart from its peers in Africa looking to leapfrog bottlenecks in the country's infrastructure by various means, the Financial Times said. Whereas many idealistic businesses tended to get mugged by the harsh realities of the Continent, Fastjet's travail
Read more20 Sep 2016 09:54
Fastjet's losses widen as it plans to cut costs and relocate
(ShareCast News) - Africa-based budget airline Fastjet's shares plummeted 17% on Tuesday morning as the company reported its losses widened in the first half. For the six months ended 30 June, operating losses from continuing activities rose to $31m from $12.8m the same period last year. The loss fr
Read more21 Jul 2016 13:51
Fastjet to raise £19.2m to fund new business plans
(ShareCast News) - Tanzania-based budget airline Fastjet announced a placing and open offer to raise £19.2m and said it plans to be in a cash-flow break-even position by the end of next year. The issue price of 50p represents a significant premium of around 116% to the closing price of the shares on
Read more28 Jun 2016 08:45
Fastjet to raise more funds amid challenging markets
(ShareCast News) - Tanzania-based budget airline Fastjet said on Tuesday that it needs to raise further finance to provide essential working capital and effect the necessary changes to its operations as the trading environment remains challenging. The company said it has begun the initial phases of
Read more21 Jun 2016 15:04