Fastjet
Join Date: Jun 2012
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Hi, NR
I do think they are worth a punt! Indeed, my own hard earned is already invested and I have a great deal of hope that FJ may prove to be the exception to the rule!
But, a punt is a straightforward bet and my hopes may be unfounded and I'm fully prepared to lose my money.
I was merely adding to the info I gave a week or so back in that a retrace was not unexpected after consolidation.
It may be that FJ is 10 years too early for Africa and will not survive the difficulties of operating there.
But, and its a big if
, if it gains traction, it could return a massive profit for the early punter, sorry investor.
Hugely risky, do your own research before buying in.
I do think they are worth a punt! Indeed, my own hard earned is already invested and I have a great deal of hope that FJ may prove to be the exception to the rule!
But, a punt is a straightforward bet and my hopes may be unfounded and I'm fully prepared to lose my money.
I was merely adding to the info I gave a week or so back in that a retrace was not unexpected after consolidation.
It may be that FJ is 10 years too early for Africa and will not survive the difficulties of operating there.
But, and its a big if
, if it gains traction, it could return a massive profit for the early punter, sorry investor.Hugely risky, do your own research before buying in.
Join Date: Feb 2001
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As part of a consortium, three friends and I have bought some FJ shares. Opinion is split, two of us expect to lose our money, two of us expect to show a profit. It will be interesting to see how this goes.
Join Date: Feb 2001
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Let's put it this way : I will be neither surprised nor disappointed if I lose all of most of my investment. Should we show a profit, an almighty piss up involving lots of fillet steak and Shiraz is on the cards! Whether that makes me an optimist or pessimist is for others to judge.
Last edited by Capetonian; 27th Aug 2013 at 08:36.
Shares now down to 3.3p.
Additional shares have been issued at 4p to raise money, but Lonrho look as though they are selling their major stake - now down to around 22%.
Additional shares have been issued at 4p to raise money, but Lonrho look as though they are selling their major stake - now down to around 22%.
Join Date: Sep 2012
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Ahh, I feel for the investors, I really do. FastJet really is a great idea for Africa, but the funding required is so large to get something like this set up. There's so much corruption in certain parts that require bribes, and so many parties that don't want a newcomer there that it's almost impossible to do it "low-cost".
They've so far achieved great things, and their marketing is fantastic for a small 3 aircraft airline, but unless FastJet can have a core profitable route network soon, well... we've all seen it before - Best of intentions and all that
They've so far achieved great things, and their marketing is fantastic for a small 3 aircraft airline, but unless FastJet can have a core profitable route network soon, well... we've all seen it before - Best of intentions and all that
Join Date: May 2013
Location: Gateshead, UK
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I think they need to try and break into some new markets ASAP (obviously) but what happened with all this business that was supposed to be happening in Nigeria or whatever? I think the places they need to try and get into are Ethiopia, further into South Africa, Nigeria, Ghana, Egypt and Morocco. They could even bridge the gap to places like the UAE, Qatar, Jordan, Spain, France, UK. Obviously this is thinking 5 years down the line but they need to be aggressive if they want to work. There is so much potential there for short, medium and long haul low cost operations... There is such a wide array of markets. I hope that one day they might be a pan-African carrier like Easyjet is now in Europe. I really do have high hopes for them but it is an extremely tough environment.
Join Date: Nov 2013
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idiots
Fastjet is locally run by idiots! the accountable manager was never in tanzania until after he got his A320 type rating and had had no previous management experience apart being briefly chief pilot for fly540 in kenia, the dfo and chief pilot was only line captain before. the project is potentially very good but these people, for example, changed the company name few months ago without bothering of the consequences, just to discover them when they had to cancel the first flight to SA by the end of september!
PS: the fact that locally they are idiots should make you ask about the kind of people who put them in those positions
PS: the fact that locally they are idiots should make you ask about the kind of people who put them in those positions
From today's Telegraph city report:
Finally, small-capper Fastjet dropped as much as 17.5pc before closing down 0.4, or 11.7pc, at 3.025p after Lonrho offloaded the remainder of its stake in the African budget airline. Some 52.4m shares were sold at 2.85p apiece, raising £1.49m.
The sale marks the end of Lonrho’s involvement with Fastjet, which was spun-out of the 104-year-old conglomerate last year.
Geoffrey White, Lonrho’s chief executive, told the Daily Telegraph that the group sold down its stake because aviation was not a core business for the company.
Lonhro, made famous by businessman Tiny Rowland, left the London market earlier this year following a £175m takeover by a group of Swiss investors. Stock market filings show it had been steadily reducing its Fastjet holding over the course of October.
Finally, small-capper Fastjet dropped as much as 17.5pc before closing down 0.4, or 11.7pc, at 3.025p after Lonrho offloaded the remainder of its stake in the African budget airline. Some 52.4m shares were sold at 2.85p apiece, raising £1.49m.
The sale marks the end of Lonrho’s involvement with Fastjet, which was spun-out of the 104-year-old conglomerate last year.
Geoffrey White, Lonrho’s chief executive, told the Daily Telegraph that the group sold down its stake because aviation was not a core business for the company.
Lonhro, made famous by businessman Tiny Rowland, left the London market earlier this year following a £175m takeover by a group of Swiss investors. Stock market filings show it had been steadily reducing its Fastjet holding over the course of October.
Join Date: Apr 2006
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Fastjet Reorg Raises Questions
The recent shutdown of Fastjet's 540 operations in Ghana and Angola has been explained by Fastjet focusing on their LCC model elsewhere in Africa.
OK, but why shut down West Africa completely?
Is West Africa already saturated with airline capacity? Surely growth has only just begun? Or are Ghanaian conditions proving difficult (other airlines have also pulled out recently)?
Is there another story here?
Any insights or is it as simple as little real demand for LCC's in West Africa?
OK, but why shut down West Africa completely?
Is West Africa already saturated with airline capacity? Surely growth has only just begun? Or are Ghanaian conditions proving difficult (other airlines have also pulled out recently)?
Is there another story here?
Any insights or is it as simple as little real demand for LCC's in West Africa?
Join Date: Feb 2001
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Fastjet has suspended all Fly540 operations in Ghana pending further restructuring, but is going ahead with plans to launch its low-cost model elsewhere in Africa, including a new base in South Africa.
The Group said that although Ghana had presented very significant long-term opportunities for the fastjet low-cost model, in the short term it planned to “fully focus on the considerable potential of opportunities in East and Southern Africa”.
Fastjet Chief Executive Officer, Ed Winter, commented: “Trying to transform something from an old-fashioned, African-style airline has been actually quite difficult... East and southern Africa are the key places in terms of the consumer markets, but when the time is right we can go over there... Aviation is definitely the way to move around that country.”
The Group said that although Ghana had presented very significant long-term opportunities for the fastjet low-cost model, in the short term it planned to “fully focus on the considerable potential of opportunities in East and Southern Africa”.
Fastjet Chief Executive Officer, Ed Winter, commented: “Trying to transform something from an old-fashioned, African-style airline has been actually quite difficult... East and southern Africa are the key places in terms of the consumer markets, but when the time is right we can go over there... Aviation is definitely the way to move around that country.”
Their full year figures look truly awful. Revenue $53m, operating costs $132m.
Management talk about better utliizing assets (3 x A319), which is undoubtedly possible; economies of scale (growing to 24 aircraft by 2018); and disposal of loss-making Fly540 operations. But that's a big hill to climb, especially with a bombed-out share price.
Management talk about better utliizing assets (3 x A319), which is undoubtedly possible; economies of scale (growing to 24 aircraft by 2018); and disposal of loss-making Fly540 operations. But that's a big hill to climb, especially with a bombed-out share price.
From Travel Mole:
Fastjet CFO resigns
Budget African airline Fastjet, which is backed by easyJet founder Sir Stelios Haji-Ioannou, is to lose its chief financial officer.
Angus Saunders has announced he is stepping down for personal reasons. He is also quitting his role as executive director of the Boad.
Last week, the airilne announced a full-year loss of $47.6 million.
Nick Caine, currently chief financial officer of Fiji Airways will take over both Saunders' roles on August 11.
The airline said Saunders and Caine will work together over the next two months "to ensure a smooth and orderly succession".
Interim chairman and chief executive Ed Winter said: While we are sad to see Angus leave, we thank him for his contributions during an important growth period in fastjet's history and wish him well for the future. We are pleased to welcome Nick, who has a strong track record in the aviation industry, in particular with airline start-ups, and we look forward to his involvement in fastjet's next stage of growth."
Tuesday, July 1, 2014
Fastjet CFO resigns
Budget African airline Fastjet, which is backed by easyJet founder Sir Stelios Haji-Ioannou, is to lose its chief financial officer.
Angus Saunders has announced he is stepping down for personal reasons. He is also quitting his role as executive director of the Boad.
Last week, the airilne announced a full-year loss of $47.6 million.
Nick Caine, currently chief financial officer of Fiji Airways will take over both Saunders' roles on August 11.
The airline said Saunders and Caine will work together over the next two months "to ensure a smooth and orderly succession".
Interim chairman and chief executive Ed Winter said: While we are sad to see Angus leave, we thank him for his contributions during an important growth period in fastjet's history and wish him well for the future. We are pleased to welcome Nick, who has a strong track record in the aviation industry, in particular with airline start-ups, and we look forward to his involvement in fastjet's next stage of growth."
Tuesday, July 1, 2014
