First African low-cost airline fastjet on the brink of bankruptcy

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By Gordon Zammit – http://www.airliners.net/photo/Fastjet/Airbus-A319-131/3910961/L, GFDL 1.2, https://commons.wikimedia.org/w/index.php?curid=52116463

African low-cost airline fastjet is on a nosedive and on the brink of bankruptcy, several media reported today. The ailing airline is in active discussions with its major shareholders regarding a potential equity fundraising, in the absence of extra fundings the airline is at risk of not being able to continue trading as expected.

On 18 June 2018 the company had a cash balance of $3.3 million.

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