Fastjet appoints Nico Bezuidenhout as new CEO

(ShareCast News) - Fastjet has confirmed they have appointed Nico Bezuidenhout as its new chief executive on Thursday.Bezuidenhout, 39, will join Fastjet on 1 August, after 10 years as chief executive of South African Airway's low cost subsidiary Mango Airlines. He was chief executive from the airlines inception and twice served as acting chief of the parent company.During Bezuidenhout's time at Mango, the airline's market share grew 25% of the South African domestic air travel market, the fleet grew to 10 Boeing 737-800 aircrafts, and was profitable for the past eight out of 10 years.The London-based company's previous boss Ed Winter left in March after being ousted by Fastjet's second biggest shareholder, easyJet founder Sir Stelios Haji-Iannou.Sir Stelios founded Fastjet and has a 12% stake. He claimed Winter had "burnt some £80m in the last three years".The pan-African airline warned in March that its full-year earnings would miss expectations with low demand and cash flow. Bezuidenhout joins FastJet with high expectations as the company has ambitions to become the first low-cost pan-African airline.Interim chief executive of Fastjet Colin Child said: "The board is delighted that Nico will be joining fastjet as CEO. He brings strong commercial and strategic skills and a wealth of experience of operating a low-cost carrier."This experience, together with his detailed knowledge of the markets in which Fastjet operates, will be invaluable to the company as it seeks to capture the growth opportunities in the region."Bezuidenhout added: "Although market conditions are currently challenging, I am confident that we can build on the airline's existing operational base to strengthen and develop the business and deliver on its considerable potential."