(Alliance News) - Low-cost African airline fastjet PLC on Monday said it is not aware of any specific reason behind the recent movement in its share price.
Shares in fastjet have more than doubled to 0.45 pence each in London on Monday afternoon. The stock on Friday closed at 0.17p.
The company noted that flight operations remain suspended following the government-imposed lockdowns in South Africa and Zimbabwe and discussions with an investor consortium in relation to the disposal of the company's holding in fastjet Zimbabwe will only restart when the impact and timeline of the lockdowns are better understood.
fastjet is still assessing its future funding requirements should the sale of fastjet Zimbabwe not proceed.
By Tapan Panchal; tapanpanchal@alliancenews.com
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