8 Jun 2020 13:31
fastjet Plc
("fastjet", the "Company" or the "Group")
Response to Share Price Movement
fastjet, the low-cost African airline, notes its recent share price movement and confirms that it is not aware of any specific reason for such movement.
In line with the Company's announcement on 1 May 2020, flight operations remain suspended following the country-wide lockdowns in South Africa and Zimbabwe and discussions with an investor consortium in relation to the disposal of the Group's holding in fastjet Zimbabwe (the "Disposal") will only restart when the impact and timeline of the lockdowns in South Africa and Zimbabwe are better understood.
The Company is still assessing its future funding requirements should the Disposal not proceed to enable it to continue as a going concern beyond 31 July 2020 and will issue an updated trading statement in the last week of June 2020.
fastjet plc | Tel: +27 (0) 10 070 5151 |
Mark Hurst, Group Interim Chief Executive Officer Kris Jaganah, Group Chief Financial Officer | |
Liberum Capital Limited Nominated Adviser and Broker | Tel: +44 (0) 20 3100 2222 |
Andrew Godber Clayton Bush James Greenwood William Hall | |
Citigate Dewe Rogerson Financial PR | Tel: +44 (0) 20 7638 9571 |
Angharad Couch Toby Moore Nick Hayns |
NOTES TO EDITORS
About fastjet
Fastjet is a multi-award-winning African value airline that began flight operations in 2012. Its awards include Leading African Low-Cost Carrier World Travel Awards 2016, 2017, 2018 and 2019, and Skytrax World Airline Awards Best Low-Cost Airline in Africa 2017.
Today, fastjet connects the three major cities in Zimbabwe by flying between Harare and Victoria Falls and Harare and Bulawayo. Internationally the airline offers flights from Harare and Bulawayo to Johannesburg in South Africa.
In October 2018, fastjet acquired an interest in FedAir, which provides unscheduled shuttle and charter services to the game lodges in the Southern Africa region.
Since commencing operations fastjet has flown over 3.5 million passengers and has established itself as a punctual, reliable, and affordable airline, with value-added services inclusive of free baggage allowance(s), airport lounge access, dedicated check-in and more according to the new fare attributes introduced across their network.