Member Info for fatherelmer

Would be interesting to know which 3 countries are being evaluated (Zambia?). Whilst the growth strategy / approach (start with a 50 seater and then move to a 100 once volumes allow) make sense the mention of Turboprops (Q400 or a Beechcraft / Caravan?) was interesting to see, though a sensible approach to non jet capable airfields, of which there are many even just within Tanzania / Zimbabwe, though the Q400 and ERJ145 have very similar minimum takeoff lengths at ca 1,400m.

Don't think the meeting is / was with Nico (who is the CEO) but rather someone else as he says the meeting was with the CCO (or Chief Commercial Officer - the role Richard Bodin previously held).

Not without finding a 75% local owner of either FJET as a whole or an SA subsidiary (merger with Airlink, SAA Express, Mango??)

marksman, don't hold your breath TravelSmart was quarterly and so the next issue of the magazine is probably not due until 1st October....

Fjetcrazy, as you say that is good (and long overdue) news. I may start to have a little more faith and even consider re-investing if the positive news keeps coming.

This is indeed good news and shows the benefit of having a more suitably sized (to the requirements of the market) aircraft. Apart from a few limited routes, the A319 was always a folly based upon too rigid an application of the European LCC model. With the 2nd ERJ145 I wonder if network expansion, in Zimbabwe, may also be on the cards - BUQ (to both HRE and JNB) would be a good start as would a formal routing between LUN and HRE. After other mooted routes included DUR and CPT.

All things from this mornings RNS would've been good to cover too... - re-fleeting / right sizing plans (as the fun and games with the fleet over the last few months have not looked slick) - confirmation as to the Jo'borg move (is this now all complete?) - Solenta's role (when will the 3 aircraft be on station - are all AOC issues now sorted?) - expansion plans with Solenta (where?) - new routes within existing spheres of operation (easiest and cheapest form of expansion eg BUQ in Zimbabwe or smaller airports in Tanzania) - cash position (as mentioned by Shylock)

shylock, as you say I suspect this was at Stelios' behest rather than something Nico actively sought. I also wonder if it basically signals an 'exit' by Stelios as he's been given a chunk of cash - for the only meaningful thing of value / connection for him - and has otherwise 'written off' his shares and prior investment, but is hedging his bets (by not selling out completely) just in case Nico does cause the Grey Parrot to rise like a majestic Phoenix!

I agree it is good that they have removed the significant risk associated with the brand by now owning it, however given the general lack of cash on hand in the last set of Finals I'm surprised that they have a 'spare $2.5m' to pay for it. It's also ironic that the RNS was referred to as a trading update but didn't really give one, though instead contained vague statements about cash flow and expansion to try and give the SP a boost / the announcement a positive spin! IMHO until there are some hard numbers demonstrating improvement / turn around this is still NOT an investable share.

Marksman, they are NOT fastjet related flights - FB is the standard designator code for Bulgaria Air (like FN is the one for fastjet) this flight, like the other one that you queried, are 'normal' Bulgaria Air scheduled operations.

But why still no BUQ?? Potentially 2 routes to HRE and JNB.

For those that are still holders I think you are in luck that there doesn't appear to be much of a market for FJET shares as in any 'normal' market these results, and some of the things that shylock points out, would be really bad news for the SP. September / October is definitely crunch time and will show whether or not the Grey Bird has any future (though my guess is if it does beyond this point it will require yet more shareholder cash / dilution, and I'm not sure there'll be much of an appetite for either). Good luck all....

I agree at the moment there is no market. However, the idea is still sound - the problem to date (now also including Nico and Co) is that the execution of the strategy has been abysmal, to say the least. If (and when?) they can begin to show deliver of a coherent strategy AND some good and encouraging financial results (something that has not happened yet and IMHO will not happen this year either) then a market may actually begin to form for the shares. My big fear is that the opportunity for fastjet has been missed as the market / competition has improved and the regulatory environment changed in a negative way for them.

Maybe / maybe not? Though I too think this is somewhat 'frothy' at the moment as I can't believe those in charge of the placing got it so wrong as even allowing for a decent discount to true value of say 20% (if such a thing is even needed at initial IPO) would only give a price of ca 177p, which co-incidentally is about where it opened, at admission, on Tuesday morning.

Shame there wasn't a retail component to the placing (which I believe was at 148p). They make really good / nice chocolate, though a bit like the boxes that they sell, I wonder if these are somewhat overpriced?