Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
https://twitter.com/theexchangeea/status/1050241023446798337?s=21
ASKY's network currently covers 22 destinations in 20 countries of West and Central Africa. ASKY operates 210 flights a week on its network.
https://twitter.com/jonrhowell/status/1049566748242993153?s=21
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Unfortunately without a paid subscription you can’t read the story, but this could be huge and stage 2 in Asky’s development. What does it mean for Fastjet too? #africa #aviation lnkd.in/gDAKeTk
Back to 2 weekly, we’d discontinued , still via LUN
https://twitter.com/atradertz/status/1049221505081626624?s=21
https://www.zimlive.com/2018/10/air-zimbabwe-goes-into-administration/
Disturbing news are emerging from Fastjet’s head office that the airline apparently decided to halt funding for their Tanzanian franchise, the first in the group to take to the skies and for many years faithfully serving Tanzanian with low fares and reliable connections.
It appears, and notably has management not responded at this time to enquiries, that the airline’s top management simply decided that enough was enough, after aviation regulators in Dar es Salaam continued their wait until forever game they played over the airline’s new fleet of ATR72 aircraft.
As said before have the Tanzanian authorities heavily tilted the playing field in favour of their own national airline, with no hesitation over the impact on the industry and the country’s standing as an investment destination – in any case falling apart over the decision to prohibit arbitration and forcing the use of a local court system which is seen abroad as far from independent and allegedly often ready to implement political decisions from the bench.
It remains now to be seen what steps will follow next but with funding from abroad halted is it now anyone’s guess for how long the airline can continue to operate, given the hostile market environment unleashed upon them.
Operations in Zimbabwe and Mozambique however will continue as usual and Fastjet there is fully supported by Solenta, one of the airline’s major shareholders, based in South Africa.
There is growing speculation when Fastjet will announce the launch of operations in South Africa, where Solenta has ready to fly operator permits available, as they incidentally do in several other countries.
Said a regular aviation source in Dar es Salaam when contacted earlier in the afternoon: ‘The writing was on the wall. Our aviation officials delayed delayed and delayed them, which can be seen as obstruction, probably aiming to please their political masters. With Fastjet out of the way will fares no doubt rise and the Tanzanian traveling public will pay the price. Other private airlines should not jubilate, because they too may well be in the cross hairs of those people who want a monopoly again for Air Tanzania which will let them set fares at will. This is a sad day for Tanzanian aviation, for investors in Tanzania, should your story be confirmed‘.
Links to previous articles on the topic:
https://atcnews.org/2018/02/06/fastjet-pulls-kigoma-flight-bookings-from-system/
https://twitter.com/whthome/status/1047889804694900746?s=21
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Dr Wolfs addition
fastjet has announced that it is no longer able to continue funding one of its airlines, fastjet Tanzania Limited due to regulatory approval delays, excessive capacity leading to unsustainable pricing levels and a domestic economic slowdown severely impacting demand.
fastjet Zimbabwe together with fastjet Mozambique (operated by Solenta Aviation Mozambique) is economically stable and will continue operating. The company said its full focus will continue to be dedicated to growing and reinforcing these markets, whilst pursuing new market opportunities.
Nico Bezuidenhout, fastjet CEO, said: “The past few days have probably been some of the most challenging times in fastjet plc’s history with some of the toughest decisions having been taken by management and the Board.”
He added a message to the trade: “On behalf of fastjet I would like to thank you for the level of support that you have shown our company and I remain confident and invested in the business development for Mozambique and Zimbabwe. We look forward to your continuous support
Revenues rise year on year from 21.2 million USD to 30.1 million USD
Loss increases year on year from 13.2 million USD to 14.6 million USD
Those were two of the key elements of the airline’s announcement in London yesterday when the H1 of 2018 results were published.
Key highlights, published below, point to continued regulatory interference and probably deliberate delays by Tanzanian aviation authorities in the registration of the airline’s ATR aircraft which were due to be deployed months ago. This suggests the full extent of what the Tanzanian government is prepared to inflict on an investor in favour of building up their hitherto almost moribund national airline, tilting the playing field and further eroding international market confidence, in part also following their decision to prohibit international arbitration, leaving investors with grievances at the mercy of a local court system under the thumbs of the powers that be.There is now a distinct possibility that, as a result of such regulatory shenanigans private airline will be pushed to the wall by creating a heavily tilted playing field in favour of Air Tanzania. It seems obvious that after serving the Tanzanian market faithfully for many years and making air travel affordable for their tens of thousands of passengers, they have served their purpose and can now go – and when that happens can ticket prices once again shoot through the roof, hitting tax payers twice.
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You could not make it up, he talks about hindsight re the ATR72, he KNEW the problems faced with E190 regulation but assumed it would be different with ATR72 as these already operating in TZ.
I wonder who he has been talking to in London and if he has come back empty handed.
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Thx for update, not a very good way of handling it by your account
Phonewind,
I’m hearing these are on a voluntary basis and temporary? ,
https://twitter.com/bbgafrica/status/1044093943145799681?s=21
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If the above happens, there may be room for us in SA
What roles? Flight/ Cabin? Engineering?
B787
The sp at time of trade 7.10/7.20
Someone did buy 240.000 shares today ahead of the very late interims, clever or plane stupid?.