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 VFABUQ, 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.
