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HomeAviationFastjet Tanzania signals break from parent firm

Fastjet Tanzania signals break from parent firm

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1 min read

Fastjet Tanzania has signalled its intention to disengage from its parent company in the UK to become a fully locally owned airline.

On November 6, the airline announced the appointment of the former cabinet minister, Lawrence Masha, its first executive chairman.

According to local media reports, the appointment of the former cabinet minister who is also a minority shareholder in the airline is one of the planned interventions to steady the airline from operational crosswinds.

Recently, Fastjet Plc. CEO Nico Bezuidenhout issued a warning on the company over mounting debts and an inability to fund day-to-day operations. Bezuidenhout then said that the holding company was considering closing the Tanzania operations should shareholders not urgently pump in more liquidity.

The appointment of Masha would, therefore, see him take responsibility to oversee a turnaround strategy that includes making the airline wholly owned by Tanzanians.

Jeanette Briedenhann
Jeanette Phillips joined the team in 2016. She developed a passion and love for all things-travel related in her role as travel journalist, a position she held for over seven years. A brief exodus into the corporate marketing sphere proved that there is no better industry than the travel industry. Research and writing are two of Jeanette’s greatest passions, but she is always open to new challenges and different ways of doing things.

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