Since its formation, due to gross mis-management, Fastjet has so far lost $300 million
. However, after pressure from Sir Stelios Haji-Ioannou, many of the original senior management have now (thankfully) departed and there have been expectations that new CEO Nico Bezuidenhout, who took up the post in August 2016, may start to turn the company around with a new stabilisation plan, including getting rid of the loss-making A319s and moving the HQ from Gatwick to Johannesburg (due to happen by March 2017).
The company has still been bleeding money and severely cut its operating routes, but it will be interesting to see if today's announcement of a major injection of cash by South Africa's Solenta in return for a significant stake in Fastjet, will see the start of a turn around in the company's fortunes as predicted by Nico.
African Aerospace - Solenta Aviation to acquire 28% of Fastjet