Sir Stelios Haji-Ioannou Demands Fastjet Directors be Sacked
As someone that had dealings with E.W when he was in British Airways, I was astonished that anyone employed him at all. He wasn't known as Thick Ed for nothing. Just goes to show how far bluster and bull**** can take you.
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Had same experience as insert name...... except i already had visa and ticket so went on holiday instead..... once bitten, twice shy, and i see they still "recruiting" on the website
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Radical rescue plan. Sir Stelios should be talking to Tehran about moving the whole Fastjet operation to Iran. 5 A319s could quickly be used on internal and medium range routes in and around Iran.
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Easy Jet holdings, who own 12.6% of the holdings of Fastjet have requested an general meeting. The meeting has been sought to propose a resolution to remove Colin Child as a director and from the board of the Company with immediate effect.
Obviously Stelios is unhappy that Colin Child has still not appointed a new CEO and the company has not yet published its financial results for last year. Rumors are that remaining operating capital is down to less than $19 million
Obviously Stelios is unhappy that Colin Child has still not appointed a new CEO and the company has not yet published its financial results for last year. Rumors are that remaining operating capital is down to less than $19 million
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No Sir Stelios want Colin Child sacked
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I believe it's a certainty that they will need another Rights Issue to raise funds to keep this company going. I would say that it is very questionable whether investors would be interested in putting more money into this company.
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Nico Bezuidenhout to be new CEO of Fastjet
Nico Bezuidenhout takes off from Mango for Fastjet | Transport & Tourism | BDlive
At last! I think Fastjet will very much benefit from the appointment of Nico as CEO. He did a great job at Mango and knows the African market. I expect to see the company HQ move from Gatwick to Dar and quite a few changes in management. He will have an uphill struggle to turn the company's finances around, but his appointment will inspire investor confidence.
This is very bad news for Mango
At last! I think Fastjet will very much benefit from the appointment of Nico as CEO. He did a great job at Mango and knows the African market. I expect to see the company HQ move from Gatwick to Dar and quite a few changes in management. He will have an uphill struggle to turn the company's finances around, but his appointment will inspire investor confidence.
This is very bad news for Mango
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I think that survival depends on the raising of more cash through a rights issue. If that is successful then Fastjet could be a worthwhile investment. It still has a big question mark hanging over it though.
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polax,
I think you're right. The share price is up 13.5% at £0.335 at present, but that will no doubt be much diluted if there's a rights issue.
Sir Stelios is still not happy though as he says that Nico had already been spotted on a list of possible candidates put forward by a head hunter he hired last November. He accused Colin Child of procrastinating and said he doesn't think he's fit to be Chairman. So the EGM is still going to be held.
Fastjet names new boss following Stelios rebellion
I think you're right. The share price is up 13.5% at £0.335 at present, but that will no doubt be much diluted if there's a rights issue.
Sir Stelios is still not happy though as he says that Nico had already been spotted on a list of possible candidates put forward by a head hunter he hired last November. He accused Colin Child of procrastinating and said he doesn't think he's fit to be Chairman. So the EGM is still going to be held.
Fastjet names new boss following Stelios rebellion
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Sir Stelios Haji-Ioannou urges Fastjet shareholders to vote to remove chairman Colin Child | City A.M.
It looks as if Stelios is stepping up his war on Colin Child. The General Meeting at Gatwick in 2 weeks should be interesting.
SAA also seem to be engaged in their own dirty tricks war against Nico Bezuidenhout, having yet again pointed out that he does not have the educational qualifications originally claimed (he doesn't have a degree or an MBA), and that Mango financially benefitted from all its aircraft being sub-leased from SAA at preferential rates.
There's more going on behind the scenes than we'll ever know
It looks as if Stelios is stepping up his war on Colin Child. The General Meeting at Gatwick in 2 weeks should be interesting.
SAA also seem to be engaged in their own dirty tricks war against Nico Bezuidenhout, having yet again pointed out that he does not have the educational qualifications originally claimed (he doesn't have a degree or an MBA), and that Mango financially benefitted from all its aircraft being sub-leased from SAA at preferential rates.
There's more going on behind the scenes than we'll ever know
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Fastjet?s new CEO mulls smaller planes to revive African airline | Fin24
HQ to move to Africa and a/c sizes to be reviewed, down to RJ's.
HQ to move to Africa and a/c sizes to be reviewed, down to RJ's.
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At Fastjet's AGM and GM in Gatwick yesterday, the institutional shareholders (mainly M&G) decided to keep Colin Childs on. Sir Stelios said that he was happy with that as it now leaves M&Gs Tom Dobell and Colin Child to clear up the mess.
However, the (wholly expected) announcement that there would be a new rights issue (having just burned through almost £50 million in the last 15 months) has further depressed the share price to 24p.
Fastjet to raise more funds as cash dwindles
However, the (wholly expected) announcement that there would be a new rights issue (having just burned through almost £50 million in the last 15 months) has further depressed the share price to 24p.
Fastjet to raise more funds as cash dwindles
