There is now an attempt by a group of Tanzanian businesses to buy out Fastjet PLC’s share in Fastjet Tanzania in order to turn the Tanzanian company into a franchise, retaining the right to use the airline’s brand name and benefitting from the association with Fastjet airlines in Southern Africa.
The buyout is anticipated following the election of Lawrence Mwasha to the position of Executive Chairman.He is a former ruling party senior cabinet minister and the airline hopes that his appointment will put relations with regulatory bodies on level keel again, though given President Magafuli’s treatment of many companies since his election, almost like a return to the old days of command economy, I wouldn’t bet on it