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Fastjet Share Discussion Threads
Showing 17051 to 17075 of 17075 messages
|I'm back in today. I like the new CEO and his pragmatic attitude. Also Stelios wanted the Chairman out, he's got his way, and the bad news re another placement, is now out and is factored into the share price.Hopefully investors will see Nico is streamlining the business and turning things round. For those who like a little risk with high growth potential these are historically low prices.Also it can't hurt to be away from businesses dependant on the Euro.|
|I'd love to know what happened to the load factors. They were achieving a steady 70%+ at one point, next thing I know an election is being blamed for drop, and they decide to cease monthly reporting.|
|Ed was a monumental ejjiott|
|Something's brewing here, given the volume of buying the last few days?|
|Yep, I'm in with a small punt. Could well be a star in 2017|
|Maybe so, but I like the cut of the new man's gib...|
|Not for long, must be mad to invest in this pile of dung, obviously made shareholders have been right royally shafted, best turn the lights out, just another Afren, these African outfits I don't know!|
|Lights still on then?|
|Opec cut production I suppose. Oil up 10%...|
|Why are the Stock Prices of Low Cost Airlines like EasyJet and RyanAir Down?
|Quiet yes,i notice not many jumping for joy either,possibly they have all gone and leaving you to turn the light off.|
|Gone quiet here now? Where are all the bleating shorters?|
|I assume binning Colin was a precondition for ponying up the next tranche of money... He must be gutted with his 130k shares at 50p!|
|From the previous placing (at 50p) :The Issue Price of 50 pence represents a significant premium of approximately 116 per cent to the closing price of each existing ordinary share of fastjet of 23.13 pence on 20 July 2016 (being the last practicable date prior to publication of this Announcement). The Issue Price has been set at a premium to the current share price so as to enable a number of the existing shareholders to satisfy their internal ownership limits. These shareholders, representing over 50% of the share register, have indicated they are supportive of the proposed Placing which will provide the Company with sufficient funds to execute its new business plan.They are further along the execution path, so I hardly think they'll pull the plug now..|
|We'll see next year I guess. But I can't see much money for shorters at this level...|
|50p...he ll be lucky to get 15p|
|Priced to go bust. It's not going into "administration" ... Yes, more cash needed, but only for a year's worth to breakeven. Hopefully the new CEO will get it away at another 50p placing...|
|A done deal RNS. Can't buy anything online...|
|A Scorpion RNS?|
|Trading Update and Directorate Change
25 November 2016
fastjet (AIM:FJET), Africa's low-cost airline, today provides an update on current trading and its operations, in particular the progress it has made with its Stabilisation Plan and the Company's current outlook.
Further to the operational fleet update on 3 October 2016, the Company has continued to implement the Stabilisation Plan and is transitioning its fleet from the existing 145-seat A319 aircraft to smaller aircraft, initially through short term wet leases (aircraft, crew, maintenance and insurance), to be superseded by dry leases (aircraft only) in the start of H2 2017. Material progress has been made and two-thirds of the Company's A319 aircrafts have now been removed from fleet and the first wet-leased Embraer e-Jet E190 aircraft was introduced in Tanzania during October 2016.
Based on initial experience with the aircraft the Board remains confident that the original expectations of a 10 - 15% reduction in operating cost will be achieved whilst seat occupancy rates on flights conducted with the E190 has to date showed an 18-percentage point increase and average yields have increased by approximately 12%.
Rationalisation of routes
The Company has continued the process of assessing its route network and has aggressively rationalised routes and/or reduced frequencies to more sustainably match supply levels with demand. This process is nearing completion, with rationalisation of flight activities between Tanzania and Kenya, Tanzania and Uganda as well as between Tanzania and Zimbabwe taking effect on 5 December 2016. Service frequency between Harare, Zimbabwe and Johannesburg, South Africa, has been increased whilst services between Johannesburg and Victoria Falls, Zimbabwe, will be suspended as from next month. The remaining routes within Zimbabwe and Tanzania, and between these countries and South Africa, are all projected to positively contribute to fixed cost during December 2016 and will continue to be closely monitored thereafter.
The process of relocating the Company's Head Office function from London to Johannesburg has commenced, and is expected to be substantially completed by March 2017, with timings influenced by contracted notice periods and business continuity in critical functions. In this regards the Company expects annualised Head Office cost-savings of c.35% whilst achieving increased responsiveness to Passenger needs, resulting from being in closer proximity to the Company's operating markets.
The Company has furthermore embarked on an organisational restructuring process in both Zimbabwe and Tanzania, the consequence of which is a substantial reduction in the size of our expatriate workforce in these countries and a greater reliance on local talent, which will result in significant cost savings.
Revenue generating initiatives
The Company has successfully integrated a Global Distribution System (GDS) which facilitates access by Travel Agencies to fastjet's inventory, generated its first passenger-flows from its interline agreement with Emirates, and introduced new fare products aimed at connecting the various fastjet routes into single passenger journeys. These measures, along with continued leverage of fastjet's growing social media presence, has supported revenue generation despite a reduction in seats flown.
Based on the steps taken in stabilising the business, we expect Q1 2017 to show a c.25% reduction in fixed operating cost & overheads year on year and a c.35% reduction in variable operating cost year on year, in aggregate amounting to c. US$8m and contributing to a significant improvement in Q1 2017 performance relative to the current year. Although the Company has made good progress in executing the Stabilisation Plan, and fastjet is entering its busiest trading period, additional costs associated with delivering the stabilisation plan, in particular the cost and terms associated with returning leased aircraft being more onerous than previously expected, has placed greater strain on available cash-resources. For this reason, as well as allowing the Company to pursue possible synergistic opportunities identified by the CEO, the Company needs to raise further capital and expects to initiate a fundraising exercise which it plans to complete in Q1 2017.
|fastjet, the only thing fast about this is it's demise into administration|
|beware a greek or turk bearing gifts|
|Bounce coming soon guys, keep buying lol|
|apart from it being bust and worth zero it's a buy fill your boots all day long|
|72 shares traded and it's down 3%, hmmmmmm|