An up­turn for Fast­jet

Daily Express - - CITY & BUSINESS -

FAST­JET is set to spread its wings be­yond its key Tan­za­nian mar­ket after re­duc­ing losses and rais­ing $44mil­lion (£33mil­lion) from in­vestors.

The low-cost air­line will en­ter agree­ments to ex­pand into South Africa and Mozam­bique and is con­sid­er­ing dual list­ing on the Jo­han­nes­burg Stock Ex­change.

Chief ex­ec­u­tive Nico Bezuiden­hout hailed “sig­nif­i­cant progress” as its half-year op­er­at­ing loss fell from $31mil­lion to $13.2mil­lion.

He added: “We are on track to achieve cash flow break-even by the fourth quar­ter.” Shares rose 1¼p to 22¾p.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.