fastjet ends funding to fastjet Tanzania

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fastjet Tanzania
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fastjet has announced that it is no longer able to continue funding one of its airlines, fastjet Tanzania Limited due to regulatory approval delays, excessive capacity leading to unsustainable pricing levels and a domestic economic slowdown severely impacting demand.

fastjet Zimbabwe together with fastjet Mozambique (operated by Solenta Aviation Mozambique) is economically stable and will continue operating. The company said its full focus will continue to be dedicated to growing and reinforcing these markets, whilst pursuing new market opportunities.

Nico Bezuidenhout, fastjet CEO, said: “The past few days have probably been some of the most challenging times in fastjet plc’s history with some of the toughest decisions having been taken by management and the Board.”

He added a message to the trade: “On behalf of fastjet I would like to thank you for the level of support that you have shown our company and I remain confident and invested in the business development for Mozambique and Zimbabwe. We look forward to your continuous support.”