Monday, 03 February 2020 11:34

Airline grows despite D-day

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FASTJET Zimbabwe operations continue as normal – for now – in the face of financial uncertainty.

The airline, which launched flights between Johannesburg and Bulawayo in December and announced this week that it would expand its network to include VFA-NLP and VFA-BUQ, released a trading update earlier this week stating that, based on current financial projections, the group would only have sufficient resources to meet operational needs until the end of March.

“Fastjet Zimbabwe services and route network remains status quo,” said Beverley Kok, gm of customer experience.

A proposal for restructuring was announced in November. At the time, the airline said further funding would be required by the end of February for the group to be able to continue operating in its current form.

Fastjet remains in discussions regarding the possible offloading of the Zimbabwe unit to an investor consortium led by its major shareholder, Solenta Aviation. If the proposal for restructuring is not carried out by the end of March, the company “will be unable to continue trading as a going concern”, the trading statement said.

Source: TU

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