Fastjet gains altitude after in-line trading update29 Jan 2020 12:09
Shares in Fastjet PLC (LON:FJET) took off on Monday morning, rising 2.9% to 0.175p on a trading update.
The cash-strapped African airline said revenue, including fastjet Zimbabwe, for 2019 is expected to rise to US$42mln from U$39mln the year before, while the loss for the year is expected to narrow dramatically to somewhere between US$7mln and US$8mln from US$65mln the year before.
As at 23 January 2020, the group had cash reserves of US$ 3.0mln with no restricted cash.